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Property profile & analytics
OFF-MARKET
Estimated value
$3,930,000
Retail space
7890 Tropical Pkwy Las Vegas, NV 89149-4568
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-1021875
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Construction
FRAME
Total area
13,863 SF
Lot
18.86 ac (821,542 SF)
APN
125-28-610-004
UPID
US62-1021875
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
-
Panera Bread Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.93M
Owner & transaction history
Shake Shack Nevada LLC · 1 yrs held
Shake Shack Nevada LLC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.0M
+16.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,215,000
6.5%
$4,815,000
7%
$4,470,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,185,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,020,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$4,200,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.93M
Range $3.54M – $4.32M · ±10%
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
$283 / 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
$283,170
Tax year 2023
Assessed value
$10,965,800
Assessed 2024
Previous assessed
$10,277,851
+6.7% YoY
Effective rate
2.58%
On assessed value
Assessed land
$5,434,500
Assessed improvement
$5,531,300
Land market value
$15,527,143
Improvement market value
$15,803,714
Total market value
$31,330,857
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
16
Stories
1
Total area
13,863 SF
Lot
18.86 ac (821,542 SF)
APN
125-28-610-004
UPID
US62-1021875
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
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
OFFICE BUILDING
Est. value
$4.2M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2002
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
16
Lot
18.86 ac
Current owner
From public records · entity-resolved
Shake Shack Nevada LLC
Entity
Mailing address
30 S MERIDIAN ST STE #1100, INDIANAPOLIS, IN 46204-3565
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2025
—
Shake Shack Nevada LLC
Krg Las Vegas Centennial Center LLC
Deed
—
Feb 25, 2013
—
Diversified Las Vegas C Inland
Centennial Centre LLC
Grant Deed
related
—
Dec 31, 2012
—
Diversified Las Vegas C Inland
—
Deed Of Trust
related
$70,455,000 · Cantor Commercial Real Estate
Dec 28, 2012
$64,709,512
Diversified Las Vegas C Inland
Centennial Centre LLC
Grant Deed
—
Apr 16, 2012
—
Centennial Centre LLC
—
Deed Of Trust
related
$47,000,000 · Teachers Insurance & Annuity
Dec 22, 2003
—
Centential Center LLC
—
Deed Of Trust
related
$47,000,000 · Teachers Insurance & Annuity
Feb 14, 2003
—
Centennial Centre LLC
—
Deed Of Trust
related
$2,305,031 · Nevada State Bank
—
—
Centennial Centre LLC
—
Deed Of Trust
related
$470,000 · Nevada State Bank
—
—
Gopher Wood Properties LLC
—
Deed Of Trust
related
$1,150,000 · Consolidated Mortgage INC
—
—
Gopher Wood Properties LLC
—
Deed Of Trust
related
$1,185,000 · Wilshire State Bank
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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