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

    7668 W Lake Mead Blvd Las Vegas, NV 89128

    • Strip malls
    • 7,840 SF
    • 1.09 lot acres
    For Lease
    View listing
    $2 SF/Yr
    Last Sale
    Jan 17, 2025
    $5,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0275606
    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

    • G.O.A.T. Pickleball / (Bike/Boat/Book/etc) Store
    • Island Flavor / Restaurant
    • Lighthouse Financial Group / Loan Service
    • Honey's Grooming Shack / Pet Grooming Service
    • Mom & Pop's Drycleaning / (Bike/Boat/Book/etc) Store

    Property Details for 7668 W Lake Mead Blvd

    Year built
    1999
    Construction
    FRAME
    Lot size
    1.09 lot acres
    Property size
    7,840 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    138-21-622-008
    APU
    13821622008

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,160,000
      6.5%
      $2,915,000
      7%
      $2,710,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,442,000
      Market price range: $1.75M - $6.20M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,405,000
      Current use
      RESTAURANT
      $5,650,000
      Change: +66% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,960,000
      Change: +46% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,355,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $2,930,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.262
    Latitude
    36.1968
    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
    $22,249
    $299,124
    $478,592
    $777,716
    -
    $854,640
    $1,367,406
    $2,222,046

    Comparable in this City

    • Value Estimation
      $23,880,000
      22,302 SF

      7175 Lk Mead Blvd

      SHOPPING CENTER, STRIP CENTER • 22,302 SF
      7175 Lk Mead Blvd, Las Vegas, NV 89128-1302
      View Details
    • Value Estimation
      $695,000
      3,840 SF

      2620 Regatta Dr Ste, Unit 121

      SHOPPING CENTER, STRIP CENTER • 3,840 SF
      2620 Regatta Dr Ste, Las Vegas, NV 89128-6891
      View Details
    • Value Estimation
      $6,615,000
      28,970 SF

      1780 Buffalo Dr Ste, Unit 107

      SHOPPING CENTER, STRIP CENTER • 28,970 SF
      1780 Buffalo Dr Ste, Las Vegas, NV 89128-2675
      View Details
    • Value Estimation
      $5,775,000
      27,462 SF

      911 Buffalo Dr

      SHOPPING CENTER, STRIP CENTER • 27,462 SF
      911 Buffalo Dr, Las Vegas, NV 89128-0379
      View Details
    • Value Estimation
      $10,880,000
      29,852 SF

      8401 Lk Mead Blvd

      SHOPPING CENTER, STRIP CENTER • 29,852 SF
      8401 Lk Mead Blvd, Las Vegas, NV 89128
      View Details
    • Value Estimation
      $3,500,000
      19,854 SF

      2267 Rampart Blvd

      SHOPPING CENTER, STRIP CENTER • 19,854 SF
      2267 Rampart Blvd, Las Vegas, NV 89128-7640
      View Details

    Similar Nearby for Sale

    • $4,736,000
      5,525 SF

      New Retail Space For Sale

      New construction retail space with freeway access and strong population.
      2131 Rock Springs Dr, Las Vegas, NV 89128
      View Details
    • $219,900
      1,136 SF

      Condo with Community Pools and Spas

      First-floor condo with open layout, fireplace, and community amenities.
      1104 Pinto Rock Ln, Las Vegas, NV 89128
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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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    • $755,000
      2,649 SF

      Las Vegas Medical Office Suite

      2,649 SF Medical Office, $755,000
      2501 Fire Mesa St, Las Vegas, NV 89128
      View Details
    • $249,990
      1,062 SF

      Meticulously Maintained Condo with Upgrades

      Well-maintained condo with upgraded features and resort-style amenities.
      1150 N Buffalo Dr, Las Vegas, NV 89128
      View Details
    • $3,000,000
      7,872 SF

      Summerlin Freestanding Investment Opportunity

      Fully occupied commercial building in Summerlin with long-term tenant.
      2121 Harbor Island Dr, Las Vegas, NV 89128
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      41,110 SF

      8510 Lake Mead Blvd

      Neighborhood centers • 41,110 SF
      8510 Lake Mead Blvd, Las Vegas, NV 89128
      View Details
    • Contact for pricing

      Retail Center on Lake Mead

      Neighborhood retail center with strong demographics and high visibility.
      8401-8475 W Lake Mead Blvd, Las Vegas, NV 89128
      View Details
    • Contact for pricing

      Anchored Shopping Center on Lake Mead

      High-traffic shopping center with strong demographics and daily needs operators.
      7501-7591 West Lake Mead Blvd, Las Vegas, NV 89128
      View Details
    • $30 SF/Yr
      36,390 SF

      Las Vegas Retail Center Investment

      36,390 SF Retail Center, Great Location
      8401 Lake Mead Blvd, Las Vegas, NV 89128
      View Details
    • Contact for pricing
      90,373 SF

      Lake Mead Retail Center Opportunity

      Whole Foods-anchored, multiple spaces available
      7290 Lake Mead Blvd, Las Vegas, NV 89128
      View Details
    • $2 SF/Yr
      20,964 SF

      West Las Vegas Retail/Office Building

      Multi-tenant building in West Las Vegas with high visibility.
      7421 W Lake Mead Blvd, Las Vegas, NV 89128
      View Details
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    Las Vegas, NV 89128
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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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