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Property profile & analytics
OFF-MARKET
Estimated value
$16,345,000
Grocery and convenience stores
8050 Rainbow Blvd Las Vegas, NV 89139-6477
Individually Owned
12-yr Hold
Free & Clear
Property ID
US62-0519987
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
65,312 SF
Lot
16.11 ac (701,752 SF)
APN
176-11-416-003
UPID
US62-0519987
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
-
Primo Water Refill & Exchange Big Box & Wholesale Store
-
Lawrence E. Palochik, RPH Pharmacy
-
TNT Fireworks Discount Store Party Supply Store
-
US Bank Mortgage Loan Service Bank
-
Smith's Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$22.69M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.35M
Owner & transaction history
Southwest Marketplace Station · 12 yrs held
Southwest Marketplace Station
since 2014
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$24,575,000
6.5%
$22,685,000
7%
$21,065,000
Alternative Use
Use
Estimation
RETAIL STORES
$24,415,000
Current use
OFFICE BUILDING
$19,780,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$16.35M
Range $14.71M – $17.98M · ±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
$250 / 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
$212,307
Tax year 2023
Assessed value
$11,206,220
Assessed 2024
Previous assessed
$9,946,273
+12.7% YoY
Effective rate
1.89%
On assessed value
Assessed land
$4,912,264
Assessed improvement
$6,293,956
Land market value
$14,035,040
Improvement market value
$17,982,731
Total market value
$32,017,771
Applied tax rate
635.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
9
Stories
1
Total area
65,312 SF
Lot
16.11 ac (701,752 SF)
APN
176-11-416-003
UPID
US62-0519987
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
$24.4M
OFFICE BUILDING
Est. value
$19.8M
RETAIL STORES Current
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
9
Lot
16.11 ac
Current owner
From public records · entity-resolved
Southwest Marketplace Station
Individual
Free & Clear · 12 yrs held
Mailing address
11501 NORTHLAKE DR, CINCINNATI, OH 45249-1669
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2014
$30,400,000
Southwest Marketplace Station
Lbg Sw Marketplace LLC
Grant Deed
—
Jul 6, 2011
$16,500,000
Lbg Sw Marketplace LLC
Windmill Retail I LLC
Grant Deed
$12,250,000 · Protective Life Insurance Co
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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