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Property profile & analytics
FOR LEASE
Strip malls
861 N Nellis Blvd Las Vegas, NV 89110
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US62-0045356
For Lease
1 / 2
$4,040,000
861 N Nellis Blvd, Las Vegas, NV 89110
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
FRAME
Total area
21,168 SF
Lot
1.85 ac (80,586 SF)
APN
140-29-716-003
UPID
US62-0045356
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
-
Nicola Chiropractic Alternative Medicine Practice
-
Western Union Bank Credit Union
-
Dr. Joseph Nicola Alternative Medicine Practice
-
Tacos Los Toritos Restaurant
-
Vegas Market & Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.04M
Owner & transaction history
Friendly Bear Plaza LLC · 18 yrs held
Friendly Bear Plaza LLC
since 2007
7 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%
$5,710,000
6.5%
$5,270,000
7%
$4,895,000
Blend value · Realmo final
$4.04M
Range $3.64M – $4.44M · ±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
$191 / 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
$26,681
Tax year 2023
Assessed value
$836,595
Assessed 2024
Previous assessed
$813,789
+2.8% YoY
Effective rate
3.19%
On assessed value
Assessed land
$253,846
Assessed improvement
$582,749
Land market value
$725,274
Improvement market value
$1,664,997
Total market value
$2,390,271
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1998
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
21,168 SF
Lot
1.85 ac (80,586 SF)
APN
140-29-716-003
UPID
US62-0045356
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
Building & site characteristics
From public records
Year built
1998
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
1.85 ac
Current owner
From public records · entity-resolved
Friendly Bear Plaza LLC
Entity
Mailing address
19052 E SMILEY DR, ORANGE, CA 92869-4152
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2019
—
Friendly Bear Plaza LLC
—
Deed
related
$600,000 · Minh T Quach
Mar 22, 2017
—
Friendly Bear Plaza LLC
—
Deed
related
$650,000 · Minh T Quach
Dec 24, 2007
$3,750,000
Friendly Bear Plaza LLC
Friendly Bear Plaza Ltd
Bargain And Sale Deed
$2,200,000 · Us Bank NA
Dec 17, 1998
—
Friendly Bear Plaza INC
Nellis Blvd Partners Viii
Quit Claim Deed
related
$1,800,000 · Commercial Federal Bank
Mar 4, 1997
$525,000
Nellis Blvd Partners Vii
Group Management INC
Grant Deed
$395,000 · Seller
—
—
Friendly Bear Plaza LLC
—
Deed Of Trust
related
$600,000 · Minh T Quach
—
—
Friendly Bear Plaza INC
—
Deed Of Trust
related
$200,000 · Asw Enterprises Ltd Psp
—
—
Friendly Bear Plaza LLC
—
Deed Of Trust
related
$650,000 · Minh T Quach
—
—
Friendly Bear Plaza Ltd
—
Deed Of Trust
related
$125,912 · Commercial Federal 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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