Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Las Vegas, NV 89149

    • Strip malls
    • 10,030 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Apr 26, 2023
    $6,000,000
    Value Estimations
    $5,520,000
    Show details
    Cap Rate Potential
    4.3%
    Strip malls
    Location Intelligence
    Property ID
    US62-1207706
    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

    • Strip malls

    Property Details

    Year built
    2022
    Construction
    FRAME
    Lot size
    0.89 lot acres
    Property size
    10,030 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    125-28-511-002
    APU
    12528511002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,675,000
      ML approach
      $5,655,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,045,000
      6.5%
      $3,730,000
      7%
      $3,465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,362,000
      Market price range: $2.24M - $7.93M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,355,000
      Current use
      RESTAURANT
      $7,230,000
      Change: +66% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,345,000
      Change: +46% Conversion: Easy
      AUTO REPAIR, GARAGE
      $5,570,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $3,750,000
      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
    -115.269
    Latitude
    36.2757
    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
    $23,615
    $242,203
    $682,359
    $924,562
    -
    $692,009
    $1,949,597
    $2,641,606

    Comparable in this City

    • Value Estimation
      $440,000
      14,575 SF

      7500 Oso Blanca Rd

      SHOPPING CENTER, STRIP CENTER • 14,575 SF
      7500 Oso Blanca Rd, Las Vegas, NV 89149
      View Details
    • Value Estimation
      $1,670,000
      3,315 SF

      7890 Ann Rd

      SHOPPING CENTER, STRIP CENTER • 3,315 SF
      7890 Ann Rd, Las Vegas, NV 89149-5209
      View Details
    • Value Estimation
      $295,000
      6,330 SF

      6750 Hualapai Way

      SHOPPING CENTER, STRIP CENTER • 6,330 SF
      6750 Hualapai Way, Las Vegas, NV 89149
      View Details
    • Value Estimation
      $520,000
      18,000 SF

      6750 Hualapai Way

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      6750 Hualapai Way, Las Vegas, NV 89149
      View Details
    • Value Estimation
      $4,040,000
      1,247 SF

      6955 Durango Dr, Unit 1002

      SHOPPING CENTER, STRIP CENTER • 1,247 SF
      6955 Durango Dr, Las Vegas, NV 89149-4412
      View Details
    • Value Estimation
      $4,040,000
      1,247 SF

      6955 Durango Dr, Unit 1004

      SHOPPING CENTER, STRIP CENTER • 1,247 SF
      6955 Durango Dr, Las Vegas, NV 89149-4412
      View Details

    Similar Nearby for Sale

    • $5,000,000
      Pending

      Commercial Land Near 215 Interchange

      5.16 acres of commercial land in Las Vegas, Nevada.
      5889 N Shaumber Rd, Las Vegas, NV 89149
      View Details
    • $450,000
      1.00 Acre

      Las Vegas Acre Lot

      One-acre lot near Durango Dr. and Lone Mountain Rd.
      4850 Durango Rd, Las Vegas, NV 89149
      View Details
    • $405,000
      Pending

      Las Vegas Land Opportunity

      One-acre lot in Northwest Las Vegas, ready for development.
      5975 N El Capitan Way, Las Vegas, NV 89149
      View Details
    • $2,250,000
      4.20 Acres

      Residential Land in Prime Location

      4.2 acres of residential land in Las Vegas, Nevada.
      5583 Ruffian Rd, Las Vegas, NV 89149
      View Details
    • $950,000
      2.50 Acres

      Durango Commercial Land - Las Vegas

      Prime 2.5-acre commercial lot, excellent location.
      0 2.5 Ac Durango Land, Las Vegas, NV 89149
      View Details
    • $2,000,000
      5.00 Acres

      Commercial Land in Centennial Gateway

      2.0 Acres of commercial land with high traffic counts.
      Durango And Centennial, Las Vegas, NV 89149
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,432 SF

      Las Vegas Retail Opportunity

      High-traffic shopping center space available in Las Vegas.
      7791 W Tropical Pkwy, Las Vegas, NV 89149
      View Details
    • $3 SF/Yr
      1,500 SF

      Former Pizzeria in Thriving Center

      Former pizzeria with equipment in a busy commercial center.
      5758 Centennial Center Blvd, Las Vegas, NV 89149
      View Details
    • $3 SF/Yr
      84,258 SF

      Restaurant Space in Centennial Center

      Former pizzeria in a thriving retail plaza, ideal for restaurant.
      5770 Centennial Center Blvd, Las Vegas, NV 89149
      View Details
    • $3 SF/Yr
      1,428 SF

      Former Pizzeria in Thriving Center

      Former pizzeria with equipment in a busy commercial center.
      5720-5780 Centennial Center Blvd, Las Vegas, NV 89149
      View Details
    • $48 SF/Yr
      3,000 SF

      Shops at Town Center, Las Vegas

      Prime Retail/Restaurant Space Available
      6401 Durango Dr, Las Vegas, NV 89149
      View Details
    • $1.35 SF/Yr
      37,950 SF

      Industrial Space in Las Vegas

      37,950 SF industrial property available for lease.
      6950 S Miller Ln, Las Vegas, NV 89149
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Las Vegas, NV 89149
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.