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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    865 Lamb Blvd Las Vegas, NV 89110

    • Strip malls
    • 12,976 SF
    • 0.49 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $325,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0449306
    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.

    Current Use by Public Records

    • Dotty's Gaming & Spirits / Casino
    • Cricket Wireless Authorized Retailer / Cell Phone Store
    • CASH 1 Loans / Loan Agency
    • The Chicken Spot / Chicken Restaurant / Restaurant
    • ATM (ATM Link, Inc.) / Atm

    Property Details for 865 Lamb Blvd

    Year built
    1988
    Construction
    FRAME
    Lot size
    0.49 lot acres
    Property size
    12,976 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    140-29-301-002
    APU
    14029301002

    Description

    This exceptional Class B retail property, known as Lamb Square, presents a compelling investment opportunity in the vibrant Northeast Las Vegas submarket. Located at 865 N Lamb Blvd, Las Vegas, NV 89110, this single-story freestanding building boasts a total of 12,977 square feet situated on a 0.49-acre lot. Currently featuring multiple tenants, including established businesses like Dotty's, Jackson Hewitt Tax Services, and Cricket Wireless, this property offers immediate income potential. The building was constructed in 1988 and provides ample parking with 68 spaces. The property is zoned C1 and has a Clark County APN of 140-29-301-003. There are no elevators. One space of 1,396 square feet is currently available. The property's strategic location on Lamb Boulevard, with its convenient access to Washington Street, ensures high visibility and accessibility for customers. This is an ideal opportunity for investors seeking a well-established retail center in a thriving area of Las Vegas. The property's strong tenant mix and ample parking make it a highly desirable investment. This freestanding retail center offers a unique blend of established businesses and potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $344,000
      Market price range: $334k - $691k

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.08
    Latitude
    36.1803
    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
    $11,837
    $59,763
    $347,301
    $407,064
    -
    $170,751
    $992,289
    $1,163,040

    Comparable in this City

    • Value Estimation
      $330,000
      7,688 SF

      1514 Nellis Blvd

      SHOPPING CENTER, STRIP CENTER • 7,688 SF
      1514 Nellis Blvd, Las Vegas, NV 89110-0018
      View Details
    • Value Estimation
      $625,000
      32,460 SF

      4440 Washington Ave Ste, Unit 105

      SHOPPING CENTER, STRIP CENTER • 32,460 SF
      4440 Washington Ave Ste, Las Vegas, NV 89110-5793
      View Details
    • Value Estimation
      $685,000
      21,168 SF

      861 Nellis Blvd, Unit 1

      SHOPPING CENTER, STRIP CENTER • 21,168 SF
      861 Nellis Blvd, Las Vegas, NV 89110-5386
      View Details
    • Value Estimation
      $3,705,000
      6,160 SF

      4552 Bonanza Rd

      SHOPPING CENTER, STRIP CENTER • 6,160 SF
      4552 Bonanza Rd, Las Vegas, NV 89110
      View Details
    • Value Estimation
      $250,000
      2,179 SF

      1499 Lamb Blvd, Unit 120

      SHOPPING CENTER, STRIP CENTER • 2,179 SF
      1499 Lamb Blvd, Las Vegas, NV 89110-1386
      View Details
    • Value Estimation
      $565,000
      16,200 SF

      5051 Stewart Ave Ste, Unit 110

      SHOPPING CENTER, STRIP CENTER • 16,200 SF
      5051 Stewart Ave Ste, Las Vegas, NV 89110-3530
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $2.00 SF/Yr
      3,000 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
    • $1.25 SF/Yr
      1,100 SF

      Retail Space on Nellis Boulevard

      Retail spaces available in busy Las Vegas corridor.
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      View Details
    • $12 SF/Yr
      21,200 SF

      Friendly Bear Plaza Retail Center

      Las Vegas retail space, 2 units available
      861-871 Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      7,045 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
      1,500 SF

      Anchored Shopping Center Retail Space

      Retail spaces available in well-maintained, Smith’s anchored shopping center.
      400 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      3,107 SF

      Retail Space in Walmart Center

      Retail space available within a busy Walmart shopping center.
      15-171 N Nellis Blvd, Las Vegas, NV 89110
      View Details
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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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