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    Property profile & analytics

    901 Rancho Dr Las Vegas, NV 89106

    • Grocery and convenience stores
    • 2,400 SF
    • 0.41 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0200822
    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

    • Jackson Hewitt Tax Service / Tax Preparation / Tax Consultant
    • A 501 S Rancho Drive / Attorney
    • Bank of America Financial Center / Financial Planner / Financial Consultant
    • Spring mountain rd / Hotel
    • Styles by Li / Hair Salon

    Property Details for 901 Rancho Dr

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.41 lot acres
    Property size
    2,400 SF
    Property type
    Grocery and convenience stores
    APN
    139-29-213-027
    APU
    13929213027

    Description

    This exceptional retail property, located at 901 S Rancho Drive in Las Vegas, Nevada (zip code 89106), offers 22,729 square feet of versatile space. Currently featuring multiple tenancies, the center boasts 11 suites, with 8,011 square feet currently vacant, offering a minimum divisible space of 800 square feet. The property's prime location at the intersection of Charleston and Rancho Drives ensures high visibility and accessibility. Its T-5 zoning allows for a variety of uses, including retail, office, and medical. The center benefits from strong anchor tenants, including Bank of America and Walgreens Specialty Pharmacy, attracting a significant daytime business population. Situated near a historic residential district and a thriving medical district, with proximity to UMC and Valley Hospitals, this location offers unparalleled convenience and access to a diverse customer base. The property's Asset Parcel Number (APN) is 13932804001. This is an excellent opportunity for businesses seeking a well-established and highly visible location in a rapidly growing area of Las Vegas. The property's strategic positioning and strong tenant mix make it an ideal investment for long-term growth and profitability. Don't miss this chance to secure your space in this vibrant and dynamic retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $970,000
      6.5%
      $895,000
      7%
      $830,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,040,000
      Current use
      RETAIL STORES
      $895,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.18
    Latitude
    36.1814
    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
    $5,037
    $75,008
    $101,396
    $176,404
    -
    $214,309
    $289,703
    $504,012

    Comparable in this City

    • Value Estimation
      $650,000
      2,504 SF

      720 Owens Ave

      CONVENIENCE STORE • 2,504 SF
      720 Owens Ave, Las Vegas, NV 89106-2720
      View Details
    • Value Estimation
      $1,010,000
      3,444 SF

      99 Martin L King Blvd

      CONVENIENCE STORE • 3,444 SF
      99 Martin L King Blvd, Las Vegas, NV 89106-4340
      View Details
    • Value Estimation
      $845,000
      4,523 SF

      2151 Rancho Dr

      CONVENIENCE STORE • 4,523 SF
      2151 Rancho Dr, Las Vegas, NV 89106-1013
      View Details
    • Value Estimation by Request
      1,968 SF

      1550 Rancho Dr

      CONVENIENCE STORE • 1,968 SF
      1550 Rancho Dr, Las Vegas, NV 89106-1017
      View Details
    • Value Estimation
      $820,000
      4,635 SF

      1602 H St

      GROCERY, SUPERMARKET • 4,635 SF
      1602 H St, Las Vegas, NV 89106-2502
      View Details
    • Value Estimation
      $13,545,000
      55,129 SF

      850 Rancho Dr

      GROCERY, SUPERMARKET • 55,129 SF
      850 Rancho Dr, Las Vegas, NV 89106-3810
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      87,294 SF

      Rancho Towne & Country Retail Space

      Prime Retail Space, Multiple Tenants Available
      0 Charleston Blvd, Las Vegas, NV 89106
      View Details
    • $1.50 SF/Yr
      2,399 SF

      Retail Space in High-Traffic Area

      Multi-tenant retail property with high visibility and ample parking.
      701-721 N Rancho Dr, Las Vegas, NV 89106
      View Details
    • $1.35 SF/Yr
      1,500 SF

      Retail Space on Rancho Drive

      9000 SF retail space with excellent visibility.
      3900 N Rancho Dr, Las Vegas, NV 89106
      View Details
    • Contact for pricing
      12,637 SF

      Retail & Restaurant Space Available

      Retail and restaurant spaces available within a multifamily project.
      250 Promenade Pl, Las Vegas, NV 89106
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    • Contact for pricing

      Retail Space Available

      Retail property for rent at 3602 E Bonanza Rd, Las Vegas.
      3602 E Bonanza Rd, Las Vegas, NV 89106
      View Details
    • Contact for pricing
      22,729 SF

      Rancho Drive Retail Center

      Las Vegas Retail Space - High Visibility
      901 Rancho Dr, Las Vegas, NV 89106
      View Details
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    Las Vegas, NV 89106
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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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