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    Property profile & analytics

    7204 Craig Rd Las Vegas, NV 89129-6030

    • Office buildings
    • 600 SF
    • 3.82 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    3.1%
    Office buildings
    Location Intelligence
    Property ID
    US62-0351924
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Chase Bank / Bank / Atm
    • Chase ATM / Atm
    • Chase Mortgage / Mortgage Lender

    Property Details for 7204 Craig Rd

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.82 lot acres
    Property size
    600 SF
    Property type
    Office buildings
    APN
    138-03-201-008
    APU
    13803201008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $262,000
      Market price range: $120k - $263k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.253
    Latitude
    36.2412
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,652
    $320,318
    $40,983
    $361,301
    -
    $915,194
    $117,094
    $1,032,288

    Comparable in this City

    • Value Estimation
      $1,255,000
      30,940 SF

      10501 Gowan Rd Ste, Unit 120

      OFFICE BUILDING • 30,940 SF
      10501 Gowan Rd Ste, Las Vegas, NV 89129-6602
      View Details
    • Value Estimation
      $1,160,000
      41,012 SF

      8670 Cheyenne Ave

      OFFICE BUILDING • 41,012 SF
      8670 Cheyenne Ave, Las Vegas, NV 89129-7456
      View Details
    • Value Estimation
      $790,000
      23,576 SF

      9910 Cheyenne Ave

      OFFICE BUILDING • 23,576 SF
      9910 Cheyenne Ave, Las Vegas, NV 89129-7707
      View Details
    • Value Estimation
      $1,030,000
      31,074 SF

      7710 Cheyenne Ave

      OFFICE BUILDING • 31,074 SF
      7710 Cheyenne Ave, Las Vegas, NV 89129-6752
      View Details
    • Value Estimation
      $1,365,000
      2,440 SF

      3285 Ft Apache Rd

      OFFICE BUILDING • 2,440 SF
      3285 Ft Apache Rd, Las Vegas, NV 89129-0200
      View Details
    • Value Estimation
      $1,120,000
      31,635 SF

      3320 Buffalo Dr, Unit 109

      OFFICE BUILDING • 31,635 SF
      3320 Buffalo Dr, Las Vegas, NV 89129-7443
      View Details

    Similar Nearby for Sale

    • $6,100,000
      33,098 SF

      Vacant Office Building Near Summerlin

      33,098 SF vacant office building near Summerlin in Las Vegas.
      9950 W Cheyenne Ave, Las Vegas, NV 89129
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    • $9,049,638
      36,200 SF

      Las Vegas Office Building For Sale

      36,200 SF office building on 2.81 acres.
      3280 N Cimarron Rd, Las Vegas, NV 89129
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    • $2,900,000
      7,468 SF

      Established Office Building For Sale

      7,468 SF office building on 0.78 acres, built 2004.
      7610 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • Contact for pricing
      74,920 SF

      Vacant Office Building For Sale

      Vacant office building with parking garage and freeway access.
      7690 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $8,461,000
      33,980 SF

      Las Vegas Office Building For Sale

      33,980 SF office building on 2.3 acres.
      7710 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $9,250,000
      22,221 SF

      Cheyenne Ave Medical Office Building

      Prime Medical Office, Las Vegas, NV
      9970 Cheyenne Ave, Las Vegas, NV 89129
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      1,286 SF

      Medical Office Space Available

      Medical office space for lease with on-site amenities.
      7730 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $1.75 SF/Yr
      12,896 SF

      Pointe North Office Campus

      Office campus near Northwest Medical District with flexible floor plans.
      7312-7324 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $21 SF/Yr
      1,488 SF

      Las Vegas Office Space Available

      Office space available for lease in Las Vegas, Nevada.
      7324 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $26 SF/Yr
      323,000 SF

      Cheyenne Corporate Center: Las Vegas Office Space

      Las Vegas office suites, ample parking, modern design.
      3301 Cheyenne Ave & Buffalo Dr, Las Vegas, NV 89129
      View Details
    • $2 SF/Yr
      3,640 SF

      Medical Office Space Available

      Medical office space in Las Vegas Medical District for rent.
      8630 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • $30 SF/Yr
      646 SF

      Office Space Available For Rent

      646 square feet office space for rent.
      7312 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
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    7204 Craig Rd
    Las Vegas, NV 89129-6030
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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