Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    723 3rd St Las Vegas, NV 89101-6702

    • Office buildings
    • 11,272 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2024
    $1,685,000
    Value Estimations
    $1,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0444367
    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

    • Aisen, Gill & Associates, LLP / Service Establishment / Law Firm
    • Coombs & Martinez / Law Firm
    • simply construction / General Contractor
    • NO citations / Law Firm
    • Workplace Harassment Lawyers Las Vegas / Law Firm / Employment Attorney

    Property Details for 723 3rd St

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    11,272 SF
    Property type
    Office buildings
    APN
    139-34-410-114
    APU
    13934410114

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,685,000
      ML approach
      $1,685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,685,000
      Market price range: $2.69M - $5.97M
      AI Estimate
      $1,081,000
      Market price range: $1.08M - $3.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.148
    Latitude
    36.1623
    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
    $8,659
    $95,895
    $179,457
    $275,352
    -
    $273,986
    $512,734
    $786,720

    Comparable in this City

    • Value Estimation
      $355,000
      1,483 SF

      529 10th St

      OFFICE BUILDING • 1,483 SF
      529 10th St, Las Vegas, NV 89101-7025
      View Details
    • Value Estimation
      $355,000
      1,568 SF

      811 6th St

      OFFICE BUILDING • 1,568 SF
      811 6th St, Las Vegas, NV 89101-6923
      View Details
    • Value Estimation
      $410,000
      1,304 SF

      719 6th St

      OFFICE BUILDING • 1,304 SF
      719 6th St, Las Vegas, NV 89101-6921
      View Details
    • Value Estimation
      $350,000
      935 SF

      512 8th St

      OFFICE BUILDING • 935 SF
      512 8th St, Las Vegas, NV 89101-7003
      View Details
    • Value Estimation
      $375,000
      1,617 SF

      600 7th St

      OFFICE BUILDING • 1,617 SF
      600 7th St, Las Vegas, NV 89101-6906
      View Details
    • Value Estimation
      $875,000
      1,652 SF

      651 Clark Ave

      OFFICE BUILDING • 1,652 SF
      651 Clark Ave, Las Vegas, NV 89101-6942
      View Details

    Similar Nearby for Sale

    • $2,250,000
      5,000 SF

      Downtown Las Vegas Office Building

      5,000 SF office building in downtown Las Vegas.
      630 S 3Rd St, Las Vegas, NV 89101
      View Details
    • $449,990
      3 SF

      Downtown Las Vegas Office Building

      Office building in redeveloping Downtown Las Vegas area for sale.
      1800 Lewis Ave, Las Vegas, NV 89101
      View Details
    • $2,195,000
      17,552 SF

      Downtown Las Vegas Redevelopment Opportunity

      Redevelopment opportunity in the heart of Downtown Las Vegas.
      333 S 6Th St, Las Vegas, NV 89101
      View Details
    • $892,500
      2,676 SF

      Downtown Las Vegas Commercial Building

      Freestanding commercial building in Downtown Las Vegas, ideal for various uses.
      510 S 8Th St, Las Vegas, NV 89101
      View Details
    • $3,650,000
      8,000 SF

      Downtown Las Vegas Office Building

      8,000 SF office building in Downtown Las Vegas.
      530 S 6Th St, Las Vegas, NV 89101
      View Details
    • $519,900
      3,154 SF

      3,154 SF Office Building For Sale

      3,154 SF Office Building For Sale
      1800 Lewis Ave, Las Vegas, NV 89101
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      9,880 SF

      Multi-Tenant Office Building For Rent

      Four-story office building with frontage on Las Vegas Boulevard.
      823 S Las Vegas Blvd, Las Vegas, NV 89101
      View Details
    • $24 SF/Yr
      3,600 SF

      Downtown Las Vegas Office Building

      Three-story professional office building in Downtown Las Vegas.
      228 S 4Th St, Las Vegas, NV 89101
      View Details
    • $0.99 SF/Yr
      4,794 SF

      Downtown Las Vegas Office Buildings

      Two single-story office buildings in Downtown Las Vegas for lease.
      526 S 7Th St, Las Vegas, NV 89101
      View Details
    • $2 SF/Yr
      8,760 SF

      Downtown Las Vegas Landmark Office

      Class A office building in downtown Las Vegas.
      300 S 4Th St, Las Vegas, NV 89101
      View Details
    • $1.50 SF/Yr
      1,747 SF

      Downtown Office Space Available

      92,402 SF office building in booming downtown Las Vegas.
      411 E Bonneville Ave, Las Vegas, NV 89101
      View Details
    • $2.00 SF/Yr
      32,176 SF

      Downtown Las Vegas Office Building

      Three-story office building in the heart of downtown Las Vegas.
      520 S 4Th St, Las Vegas, NV 89101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    723 3rd St
    Las Vegas, NV 89101-6702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.