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

    7351 Pr Falcon Rd Las Vegas, NV 89128-0819

    • Office buildings
    • 13,800 SF
    • 1.21 lot acres
    OFF-MARKET
    Value Estimations
    $2,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-1295293
    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

    • Dr. Ann C. Childress, MD / Child Psychiatrist
    • Family and Sports Physical Therapy / Physical Therapy Clinic / Sports Medicine Clinic
    • Center for Psychiatry and Behavioral Medicine, Inc. / Psychiatric Hospital
    • X Radio Biz / Radio Broadcaster
    • Linda Frantom / Psychologist

    Property Details for 7351 Pr Falcon Rd

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    1.21 lot acres
    Property size
    13,800 SF
    Property type
    Office buildings
    APN
    138-15-410-045
    APU
    13815410045

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,442,000
      Market price range: $520k - $2.66M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,825,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.254
    Latitude
    36.206
    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
    $21,219
    $276,717
    $444,473
    $721,190
    -
    $790,620
    $1,269,923
    $2,060,543

    Comparable in this City

    • Value Estimation
      $8,645,000
      53,487 SF

      7473 Lk Mead Blvd, Unit 203

      OFFICE BUILDING • 53,487 SF
      7473 Lk Mead Blvd, Las Vegas, NV 89128-0265
      View Details
    • Value Estimation
      $775,000
      2,584 SF

      7301 Peak Dr

      OFFICE BUILDING • 2,584 SF
      7301 Peak Dr, Las Vegas, NV 89128-9037
      View Details
    • Value Estimation
      $12,275,000
      44,407 SF

      2700 Fire Mesa St

      OFFICE BUILDING • 44,407 SF
      2700 Fire Mesa St, Las Vegas, NV 89128-9005
      View Details
    • Value Estimation
      $4,310,000
      26,004 SF

      2400 10th Way

      OFFICE BUILDING • 26,004 SF
      2400 10th Way, Las Vegas, NV 89128-0420
      View Details
    • Value Estimation
      $2,435,000
      8,800 SF

      2601 10th Way

      OFFICE BUILDING • 8,800 SF
      2601 10th Way, Las Vegas, NV 89128-0427
      View Details
    • Value Estimation
      $2,715,000
      15,760 SF

      2450 Box Cyn Dr

      OFFICE BUILDING • 15,760 SF
      2450 Box Cyn Dr, Las Vegas, NV 89128-0428
      View Details

    Similar Nearby for Sale

    • $755,000
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      Las Vegas Medical Office Suite

      2,649 SF Medical Office, $755,000
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    • $959,700
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      Las Vegas Executive Office Suite

      Modern office condo, prime location.
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    • $219,900
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      Condo with Community Pools and Spas

      First-floor condo with open layout, fireplace, and community amenities.
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    • $330,000
      1,392 SF

      Summerlin Condo with Resort Amenities

      ADA accessible 2-bedroom condo in Summerlin's Red Hills community.
      1713 Sky Of Red Dr, Las Vegas, NV 89128
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    • $249,990
      1,062 SF

      Meticulously Maintained Condo with Upgrades

      Well-maintained condo with upgraded features and resort-style amenities.
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    • $3,000,000
      7,872 SF

      Summerlin Freestanding Investment Opportunity

      Fully occupied commercial building in Summerlin with long-term tenant.
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    Similar Nearby for Lease

    • $8,800,000
      6,757 SF

      Professional Office Building For Lease

      Two-story office building with remodeled suites and ample parking.
      1333 N Buffalo Dr, Las Vegas, NV 89128
      View Details
    • $1.65 SF/Yr
      50,000 SF

      Freestanding Office Building in Tech Center

      Two-story office building in Las Vegas Technology Center for lease.
      7250 Peak Dr, Las Vegas, NV 89128
      View Details
    • $18 SF/Yr
      14,201 SF

      Professional Office Building For Rent

      Two-story office building near Desert Shores Community, built in 2002.
      2500 N Buffalo Dr, Las Vegas, NV 89128
      View Details
    • $500 /Mo
      29,612 SF

      Modern Office Space in Las Vegas

      Premier commercial space with modern design and convenient location.
      2400-2402 N Tenaya Way, Las Vegas, NV 89128
      View Details
    • $1.65 SF/Yr
      50,000 SF

      Peak Professional Office Suites

      Las Vegas Executive Office Space Available
      7250 Peak Dr, Las Vegas, NV 89128
      View Details
    • $12 SF/Yr
      6,249 SF

      Las Vegas Office Space for Lease

      Flexible workspace solutions in prime location.
      2410 Fire Mesa St, Las Vegas, NV 89128
      View Details
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    7351 Pr Falcon Rd
    Las Vegas, NV 89128-0819
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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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