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Property profile & analytics
OFF-MARKET
Estimated value
$9,075,000
Drug stores
9420 Lk Mead Blvd Las Vegas, NV 89134-8312
Entity Owned
5-yr Hold
Free & Clear
Property ID
US62-0030710
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,104 SF
Lot
1.39 ac (60,548 SF)
APN
138-18-821-005
UPID
US62-0030710
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
-
Bitcoin Depot | BDCheckout Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.80M
Blend (final)
Blend
$9.08M
Owner & transaction history
845 Pierce Street LLC · 5 yrs held
845 Pierce Street LLC
since 2020
Last sale
$8.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.2M
+92.8%
Commercial (general)
$8.9M
+69.2%
Auto repair, garage
$7.8M
+48.6%
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
$10,070,000
ML approach
$9,905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$10,165,000
Change: +93% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,920,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,835,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,125,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$9.08M
Range $8.17M – $9.98M · ±10% · vs last sale $8.80M (Sep 17 2020)
Last sale anchor
$8.80M
Sep 17 2020
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
$643 / 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
$19,894
Tax year 2023
Assessed value
$1,091,696
Assessed 2024
Previous assessed
$987,428
+10.6% YoY
Effective rate
1.82%
On assessed value
Assessed land
$381,452
Assessed improvement
$710,244
Land market value
$1,089,863
Improvement market value
$2,029,269
Total market value
$3,119,132
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 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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
14,104 SF
Lot
1.39 ac (60,548 SF)
APN
138-18-821-005
UPID
US62-0030710
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
RESTAURANT
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$7.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.1M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
845 Pierce Street LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2021
—
2845 Pierce Street LLC
—
Deed
related
$4,000,000 · Us Bank NA
Jan 20, 2021
—
2845 Pierce Street LLC
—
Deed
related
$4,000,000 · Us Bk
Sep 17, 2020
$8,800,000
845 Pierce Street LLC
Cardinal Green Investments LLC
Grant Deed
—
Aug 18, 2020
$6,880,000
Cardinal Green Investments LLC
A & M Lake Mead LLC
Grant Deed
—
May 23, 2007
—
A & M Lake Mead LLC
Ghiam,albert
Quit Claim Deed
related
—
Apr 13, 2007
—
Mardkhai Ghiam
Ghiam,vida
Quit Claim Deed
related
—
Apr 13, 2007
$6,670,000
Albert Ghiam
South Tech Lake Mead W9420 LLC
Grant Deed
$2,000,000 · Sean Leoni
Jun 12, 2006
—
Tech Lake Mead W 9420 Ll South
—
Deed Of Trust
related
$3,600,000 · Amera Mortgage Corp
Jan 17, 2006
$6,500,000
South Tech Lake Mead W9420 LLC
Barrington Imperial 1840-1900 LLC
Bargain And Sale Deed
$100,000 · Black Mountain Community Bank
May 23, 2005
$6,166,000
Barrington Imperial 1840-1900
Las Vegas Liberty Assocs LLC
Grant Deed
—
Oct 29, 1997
$4,910,000
Las Vegas Liberty Assoc LLC
Cap II
Grant Deed
$3,435,750 · Lehman Capital Corp
—
—
2845 Pierce Street LLC
—
Deed Of Trust
related
$4,000,000 · Us Bk
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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