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

    Las Vegas, NV 89104

    • Turn key restaurants
    • 1,871 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    Jun 03, 2020
    $2,057,000
    Value Estimations
    $2,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0809615
    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

    • Turn key restaurants

    Property Details

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.45 lot acres
    Property size
    1,871 SF
    Property type
    Turn key restaurants
    APN
    162-03-302-011
    APU
    16203302011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,075,000
      ML approach
      $2,170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,075,000
      Market price range: $566k - $2.08M

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.154
    Latitude
    36.1501
    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
    $6,904
    $360,187
    $75,567
    $435,754
    -
    $1,029,106
    $215,906
    $1,245,012

    Comparable in this City

    • Value Estimation
      $670,000
      0.34 Acres

      2550 Fremont St

      RESTAURANT • 0.34 Acres
      2550 Fremont St, Las Vegas, NV 89104-2219
      View Details
    • Value Estimation
      $325,000
      0.27 Acres

      2001 Las Vegas S Blvd

      RESTAURANT • 0.27 Acres
      2001 Las Vegas S Blvd, Las Vegas, NV 89104-2522
      View Details
    • Value Estimation
      $215,000
      4,690 SF

      1810 Las Vegas S Blvd

      RESTAURANT • 4,690 SF
      1810 Las Vegas S Blvd, Las Vegas, NV 89104
      View Details
    • Value Estimation
      $185,000
      2,462 SF

      2350 Maryland Pkwy

      RESTAURANT • 2,462 SF
      2350 Maryland Pkwy, Las Vegas, NV 89104
      View Details
    • Value Estimation
      $4,525,000
      2,946 SF

      2210 Las Vegas S Blvd

      RESTAURANT • 2,946 SF
      2210 Las Vegas S Blvd, Las Vegas, NV 89104-2527
      View Details
    • Value Estimation
      $265,000
      2,740 SF

      2201 Sahara Ave

      RESTAURANT • 2,740 SF
      2201 Sahara Ave, Las Vegas, NV 89104-4105
      View Details

    Similar Nearby for Sale

    • $5,100,000
      7,985 SF

      Charleston Blvd Retail Center

      Fully Leased, High-Income Property
      2877 Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $3,400,000
      8,479 SF

      Fremont Street Entertainment Hub

      Las Vegas Event Center, Fully Remodeled
      3015 Fremont St, Las Vegas, NV 89104
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    • $11,282,000
      1.48 Acres

      56 Wells Street Office Space

      Prime Office Space: Versatile, All-Inclusive
      1700 Las Vegas Blvd, Las Vegas, NV 89104
      View Details
    • $1,500,000
      6,486 SF

      Plaza Del Vegas Storefront

      Las Vegas retail investment opportunity.
      3021 Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $950,000
      2,581 SF

      Former Convenience Store on Charleston Blvd

      2,581 SF former convenience store on high-traffic Charleston Blvd.
      3500 E Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $7,999,999
      11,500 SF

      Prime Retail Building Near Strip

      Retail building near the Las Vegas Strip and Arts District.
      1700 South Main St, Las Vegas, NV 89104
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      16,664 SF

      4G Plaza Retail Spaces Available

      High-traffic retail spaces, excellent location.
      4235 Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $18 SF/Yr
      6,000 SF

      Sahara Ave Medical Office Space

      6,000 SF Medical Office Suite in Las Vegas
      953 Sahara Ave, Las Vegas, NV 89104
      View Details
    • Contact for pricing
      3,503 SF

      Retail Opportunity on Sahara Avenue

      New retail space with high traffic exposure on Sahara.
      2921 W Sahara Ave, Las Vegas, NV 89104
      View Details
    • $2 SF/Yr
      1,800 SF

      Retail Space in Power Center

      High-visibility retail space in busy, anchored shopping center.
      4559-4575 W Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $1.25 SF/Yr
      2,568 SF

      Retail Space on East Charleston

      Retail space available with signage opportunity and ample parking.
      3700 E Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $1.00 SF/Yr
      3,662 SF

      Retail Anchor Box For Lease

      Retail anchor box available in central east submarket.
      1860-1866 E Charleston Blvd, Las Vegas, NV 89104
      View Details
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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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