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Property profile & analytics
OFF-MARKET
Estimated value
$4,725,000
Office buildings
9948 Covington Cross Dr Las Vegas, NV 89144-6834
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-0354925
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
CONCRETE
Total area
18,793 SF
Lot
5.57 ac (242,629 SF)
APN
138-30-113-007
UPID
US62-0354925
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.75M
Comparable Approach
Comparable
$5.19M
Blend (final)
Blend
$4.73M
Owner & transaction history
G4 Properties LLC · 11 yrs held
G4 Properties LLC
since 2014
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.0M
+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%
$5,140,000
6.5%
$4,745,000
7%
$4,405,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,690,000
Current use
RETAIL STORES
$7,025,000
Change: +23% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$5,565,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$4.73M
Range $4.25M – $5.20M · ±10%
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
$251 / 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
$90,672
Tax year 2023
Assessed value
$4,096,280
Assessed 2024
Previous assessed
$3,830,703
+6.9% YoY
Effective rate
2.21%
On assessed value
Assessed land
$1,698,403
Assessed improvement
$2,397,877
Land market value
$4,852,580
Improvement market value
$6,851,077
Total market value
$11,703,657
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
1996
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
4
Stories
1
Total area
18,793 SF
Lot
5.57 ac (242,629 SF)
APN
138-30-113-007
UPID
US62-0354925
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
$5.7M
RETAIL STORES
Est. value
$7.0M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
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
1996
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
4
Lot
5.57 ac
Current owner
From public records · entity-resolved
G4 Properties LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1201 N TOWN CTR DR, LAS VEGAS, NV 89144-6307
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2014
—
G4 Properties LLC
Crossing Business Center 5a
Grant Deed
related
—
Oct 8, 2014
$9,999,999
G4 Properties LLC
Crossing Business Center 5a
Grant Deed
—
Oct 2, 2012
$4,016,500
Crossing Business Center 5 A
9950-9980 Covington Cross LLC
Grant Deed
related
—
May 16, 2008
—
9950-9980 Covington Cross LLC
Howard Hughes Properties
Grant Deed
—
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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