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    861 N Nellis Blvd Las Vegas, NV 89110
    Property profile & analytics

    861 N Nellis Blvd, Las Vegas, NV 89110

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    • Strip malls
    • 21,168 SF
    • 1.85 lot acres
    For Lease
    $1.00 SF/Yr
    View Listing →
    Retail Space on Nellis Boulevard For Lease
    $1.00 SF/Yr
    1,100 SF

    Retail Space on Nellis Boulevard

    Retail spaces available in busy Las Vegas corridor.

    861 N Nellis Blvd, Las Vegas, NV
    View Listing
    Property ID
    US62-0045356
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by 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

    Property Details for 861 N Nellis Blvd

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.85 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    140-29-716-003
    APU
    14029716003

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,710,000
      6.5%
      $5,270,000
      7%
      $4,895,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.063
    Latitude
    36.1801
    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
    $26,681
    $253,846
    $582,749
    $836,595
    -
    $725,274
    $1,664,997
    $2,390,271

    Comparable in this City

    • Value Estimation
      $1,145,000
      7,688 SF

      1514 Nellis Blvd

      SHOPPING CENTER, STRIP CENTER
      1514 Nellis Blvd, Las Vegas, NV 89110-0018
      View Details
    • Value Estimation
      $6,090,000
      32,460 SF

      4440 Washington Ave Ste, Unit 105

      SHOPPING CENTER, STRIP CENTER
      4440 Washington Ave Ste, Las Vegas, NV 89110-5793
      View Details
    • Value Estimation by Request
      0.57 Acres

      1115 Nellis Blvd

      SHOPPING CENTER, STRIP CENTER
      1115 Nellis Blvd, Las Vegas, NV 89110-5334
      View Details
    • Value Estimation
      $4,340,000
      28,122 SF

      320 Nellis Blvd

      SHOPPING CENTER, STRIP CENTER
      320 Nellis Blvd, Las Vegas, NV 89110-0052
      View Details
    • Value Estimation
      $1,555,000
      13,705 SF

      3965 Owens Ave Ste, Unit 140

      SHOPPING CENTER, STRIP CENTER
      3965 Owens Ave Ste, Las Vegas, NV 89110-7033
      View Details
    • Value Estimation
      $875,000
      8,280 SF

      4416 Bonanza Rd, Unit 150

      SHOPPING CENTER, STRIP CENTER
      4416 Bonanza Rd, Las Vegas, NV 89110-6349
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,960 SF

      High-Traffic Corner Retail Opportunity

      Corner retail property with development potential in high-traffic Las Vegas.
      714 N Nellis Blvd, Las Vegas, NV 89110
      View Details
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      Las Vegas Automotive & Restaurant

      Fully occupied automotive and restaurant property in East Las Vegas.
      734 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • $1,750,000

      Single-Tenant Retail Space Investment

      NNN leased retail space in growing Las Vegas submarket.
      555 Page St, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      2,581 SF

      Former Convenience Store on Charleston Blvd

      2,581 SF former convenience store on high-traffic Charleston Blvd.
      3500 E Charleston Blvd, Las Vegas, NV 89110
      View Details
    • $1,995,000

      Land Near US-95

      Land in Northeast Las Vegas, close to amenities and US-95.
      6027-6042 Charleston Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing

      Las Vegas Land For Sale

      Land available for sale in Las Vegas, Nevada.
      3829 N Nellis Blvd, Las Vegas, NV 89110
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      895 SF

      Retail Space Available For Lease

      Retail spaces available for lease with high traffic counts.
      601-719 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space on Nellis Boulevard

      Retail spaces available in busy Las Vegas corridor.
      861 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      14,680 SF

      Smith's Anchored Retail Space Available

      Retail spaces available in well-maintained, Smith’s anchored shopping center.
      420-560 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      7,296 SF

      Remodeled Grocery Anchored Retail Center

      Remodeled retail center with spaces and pad sites available for lease.
      5001-5051 E Bonanza Rd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      1,000 SF

      Remodeled Retail Center Coming Soon

      Grocery-anchored retail center with spaces and pad sites available for lease.
      5051 E Bonanza Rd, Las Vegas, NV 89110
      View Details
    • Contact for pricing

      Retail Space in Friendly Bear Plaza

      Neighborhood retail center with high traffic and visibility.
      861-871 N Nellis Blvd Las, Las Vegas, NV 89110
      View Details
    View Listing
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    Las Vegas, NV 89110
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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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