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Property profile & analytics
OFF-MARKET
Estimated value
$29,730,000
Office buildings
9911 Covington Cross Dr Las Vegas, NV 89144-7033
Entity Owned
Free & Clear
Property ID
US62-0382006
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Construction
FRAME
Total area
118,937 SF
Lot
14.5 ac (631,620 SF)
APN
138-30-212-003
UPID
US62-0382006
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
-
SKR Real Estate Services, LLC Property Management Company
-
Engage Studio Training Center Tutoring Service
-
PCI Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.04M
Comparable Approach
Comparable
$32.87M
Blend (final)
Blend
$29.73M
Owner & transaction history
Nevada Power Company
Nevada Power Company
since 2025
Last sale
$28.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$44.5M
+23.5%
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%
$32,540,000
6.5%
$30,040,000
7%
$27,890,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$36,020,000
Current use
RETAIL STORES
$44,465,000
Change: +23% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$35,215,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$29.73M
Range $26.76M – $32.70M · ±10% · vs last sale $28.00M (Jun 24 2025)
Last sale anchor
$28.00M
Jun 24 2025
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
$250 / 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
$259,731
Tax year 2023
Assessed value
$11,413,927
Assessed 2024
Previous assessed
$10,671,557
+7.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$4,863,474
Assessed improvement
$6,550,453
Land market value
$13,895,640
Improvement market value
$18,715,580
Total market value
$32,611,220
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1995
Construction
FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
2
Total area
118,937 SF
Lot
14.5 ac (631,620 SF)
APN
138-30-212-003
UPID
US62-0382006
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
OFFICE BUILDING Current
Est. value
$36.0M
RETAIL STORES
Est. value
$44.5M
INDUSTRIAL (GENERAL)
Est. value
$35.2M
OFFICE BUILDING Current
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1995
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
14.5 ac
Current owner
From public records · entity-resolved
Nevada Power Company
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 460189, HOUSTON, TX 77056-8189
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2025
$28,000,000
Nevada Power Company
Capital One NA
Bargain & Sale Deed
—
Jul 24, 2012
—
Capital One
Hsbc Card Services INC
Grant Deed
related
—
Jul 5, 2012
—
Capital One
Hsbc Card Services INC
Grant Deed
related
—
May 7, 2012
$19,700,000
One NA Capital
Hsbc Card Services INC
Grant Deed
related
—
Feb 10, 1995
$22,340,000
Household Credit Services INC
Howard Hughes Properties LP
Grant Deed
related
—
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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