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Property profile & analytics
OFF-MARKET
Estimated value
$31,675,000
Outlet malls
771 Rainbow Blvd 1160 Las Vegas, NV 89145-6224
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0810142
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1996
Construction
FRAME
Total area
51,784 SF
Lot
6.89 ac (300,128 SF)
APN
138-34-717-013
UPID
US62-0810142
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pet Supplies Plus Las Vegas - Rainbow Blvd. (Bike/Boat/Book/etc) Store Pet Store & Service
-
Advance Auto Parts Auto Parts Store
-
Sprouts Farmers Market Grocery & Convenience Store Food Market
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.77M
Blend (final)
Blend
$31.68M
Owner & transaction history
Rainbow Station South LLC · 4 yrs held
Rainbow Station South LLC
since 2021
Last sale
$34.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$37.3M
+92.8%
Commercial (general)
$32.8M
+69.2%
Auto repair, garage
$28.8M
+48.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Vegas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$40,120,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$19,360,000
Current use
RESTAURANT
$37,320,000
Change: +93% · Conversion: Easy
COMMERCIAL (GENERAL)
$32,750,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$28,760,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$22,480,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$31.68M
Range $28.51M – $34.84M · ±10% · vs last sale $34.75M (Dec 3 2021)
Last sale anchor
$34.75M
Dec 3 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$612 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$121,383
Tax year 2023
Assessed value
$4,305,712
Assessed 2024
Previous assessed
$3,758,670
+14.6% YoY
Effective rate
2.82%
On assessed value
Assessed land
$1,472,728
Assessed improvement
$2,832,984
Land market value
$4,207,794
Improvement market value
$8,094,240
Total market value
$12,302,034
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
HEAT PUMP
Buildings
5
Stories
1
Total area
51,784 SF
Lot
6.89 ac (300,128 SF)
APN
138-34-717-013
UPID
US62-0810142
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$19.4M
RESTAURANT
Est. value
$37.3M
COMMERCIAL (GENERAL)
Est. value
$32.8M
AUTO REPAIR, GARAGE
Est. value
$28.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.5M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Buildings
5
Lot
6.89 ac
Current owner
From public records · entity-resolved
Rainbow Station South LLC
Entity
Free & Clear · 4 yrs held
Mailing address
11501 NORTHLAKE DR, CINCINNATI, OH 45249-1669
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2021
$34,750,000
Rainbow Station South LLC
Brixton Alto Rainbow LLC
Bargain And Sale Deed
—
Jan 29, 2021
—
Brixton-alto Rainbow LLC
—
Deed
related
$43,000,000 · Prlap
—
—
Brixton-alto Rainbow LLC
—
Loan Modification
related
$43,000,000 · Prlap
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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