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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7220 W Azure Dr Las Vegas, NV 89130

    • Strip malls
    • 22,859 SF
    • 6.29 lot acres
    For Lease
    View listing
    $2 SF/Yr
    Last Sale
    May 25, 2022
    $17,350,000
    Value Estimations
    $17,415,000
    Cap Rate Potential
    3.3%
    Strip malls
    Location Intelligence
    Property ID
    US62-0217574
    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

    • Strip malls

    Property Details for 7220 W Azure Dr

    Year built
    2005
    Construction
    FRAME
    Lot size
    6.29 lot acres
    Property size
    22,859 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    125-27-113-007
    APU
    12527113007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,065,000
      Market price range: $5.11M - $18.1M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $16,475,000
      COMMERCIAL (GENERAL)
      $14,460,000
      AUTO REPAIR, GARAGE
      $12,695,000

    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
    36.2742
    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
    $77,623
    $1,534,355
    $2,220,142
    $3,754,497
    -
    $4,383,871
    $6,343,263
    $10,727,134

    Comparable in this City

    • Value Estimation
      $14,010,000
      40,400 SF

      3281 Decatur Blvd Ste, Unit 185

      SHOPPING CENTER, STRIP CENTER • 40,400 SF
      3281 Decatur Blvd Ste, Las Vegas, NV 89130-3266
      View Details
    • Value Estimation
      $6,320,000
      10,082 SF

      6090 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 10,082 SF
      6090 Craig Rd, Las Vegas, NV 89130-2570
      View Details
    • Value Estimation
      $2,715,000
      6,600 SF

      4831 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      4831 Craig Rd, Las Vegas, NV 89130-2728
      View Details
    • Value Estimation
      $3,175,000
      11,400 SF

      4921 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 11,400 SF
      4921 Craig Rd, Las Vegas, NV 89130-2730
      View Details
    • Value Estimation
      $2,250,000
      13,740 SF

      5081 Rainbow Blvd

      SHOPPING CENTER, STRIP CENTER • 13,740 SF
      5081 Rainbow Blvd, Las Vegas, NV 89130-1626
      View Details
    • Value Estimation
      $8,535,000
      46,466 SF

      4878 Lone Mtn Rd

      SHOPPING CENTER, STRIP CENTER • 46,466 SF
      4878 Lone Mtn Rd, Las Vegas, NV 89130-2239
      View Details

    Similar Nearby for Sale

    • $7,700,000
      61,450 SF

      Anchored Shopping Center Opportunity

      Value-add shopping center with junior-anchor opportunity in Las Vegas.
      4810-4920 W Lone Mountain Rd, Las Vegas, NV 89130
      View Details
    • Contact for pricing
      0.50 Acres

      The Bell Building: Downtown Office Space

      Art Deco gem, 8 suites available, CBD location.
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    • $750,000
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      Las Vegas Commercial Land - 0.74 Acres

      Prime Commercial Lot, High Traffic Area, Build-Ready
      0 Rainbow Commercial Pad, Las Vegas, NV 89130
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    • $1,500,000

      Commercial Corner Lot For Sale

      Commercial land available in Lone Mountain District, Las Vegas.
      5620 N Jones Blvd, Las Vegas, NV 89130
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    • $249,995
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      Vacant Lot on Rio Vista

      Spacious lot ready for a custom single-family home.
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    • $399,900
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      Commercial Land in Las Vegas

      Two commercial office parcels available in Las Vegas, Nevada.
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    Similar Nearby for Lease

    • $2 SF/Yr
      1,380 SF

      Centennial Hills Retail Center Space

      Retail space in a high-traffic Centennial Hills shopping center.
      7220 W Azure Dr, Las Vegas, NV 89130
      View Details
    • $3,500,000
      6,211 SF

      Albertsons Anchored Retail Space

      Retail space in Albertsons anchored shopping center for lease.
      4830 W Craig Rd, Las Vegas, NV 89130
      View Details
    • $1.10 SF/Yr
      143,466 SF

      Renovated Retail and Warehouse Space

      Located at a busy intersection near North Las Vegas Airport.
      3231-3281 W Cheyenne Ave, Las Vegas, NV 89130
      View Details
    • Contact for pricing

      Centennial Hills Retail Center Space

      Retail spaces in a well-located, high-traffic Centennial Hills center.
      7220-7290 W Azure Rd, Las Vegas, NV 89130
      View Details
    • Contact for pricing
      9,311 SF

      Las Vegas Retail Space - 9,311 SF

      Prime Las Vegas retail space, ideal for auto services.
      4141 Rancho Dr, Las Vegas, NV 89130
      View Details
    • $1.50 SF/Yr
      1,000 SF

      Retail Space Available For Lease

      Second generation retail space available for lease.
      4570 N Rancho Dr, Las Vegas, NV 89130
      View Details
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    Las Vegas, NV 89130
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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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