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    1 Hughes Center Dr Las Vegas, NV 89169

    Sponsored
    For Sale
    $7,250,000

    High Rise, High Rise,Penthouse - Las Vegas, NV

    Property size:
    6,779 SF
    Days on Market:
    32
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for 1 Hughes Center Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Den, Dining Room, Kitchen, Living Room
    Bedrooms
    3
    Bathrooms
    6
    APN
    162-16-814-083
    Parking features
    Assigned, Covered, Guest, Valet
    Interior features
    Wet Bar, Built In Features, Ceiling Fans, Window Treatments, Programmable Thermostat, Fireplace
    Exterior features
    Courtyard, Outdoor Kitchen, Community Pool
    Fireplace
    1
    Appliances
    Cooktop, Dishwasher, Dryer, Garbage Disposer, Microwave, Oven, Refrigerator, Washer
    Size
    6,779 SF

    Taxes and HOA fees

    Expense value
    6183
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Natural Gas
    Cooling system
    Electric

    Building Details

    Year built
    2000
    Architectural style
    High Rise
    Additional Structures
    Outdoor Kitchen

    We can help!

    Listing Contact
    Randall J. Char
    Randall J. Char

    Synergy Sotheby's International Realty (702) 360-1414

    Listing agent Randall J. Char (702) 360-1414 License #BS.0143566

    Listing date Jan 20, 2026

    MLS# 2688785 Listing URL

    Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Luxury Penthouse with Panoramic Strip Views

    This two-story penthouse at Park Towers offers panoramic views of the Las Vegas Strip, including The Sphere, High Roller, and surrounding mountains. The expansive living areas feature hardwood floors and custom cabinetry. The chef’s kitchen is equipped with top-tier appliances and ample counter space. The primary suite includes dual baths, dressing rooms, and a freestanding tub with Strip views. Two additional suites provide space and privacy for guests. A home theater delivers a cinematic experience. Automated lighting and sound systems enhance the ambiance. This residence offers an exclusive chance to own a premier Las Vegas residence at Park Towers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ParkTowersLasVegas507.info General Contractor Park Towers At Hughes ... Condominium Complex Private Jet Charters ... Freight Service

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Restaurant Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.159289
    Latitude
    36.116039

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    FAQs

    What type of property is this?
    Apartment building - Exclusive two-story penthouse in Las Vegas' premier high-rise.
    Where is this apartment building located?
    The property is located at 1 Hughes Center Dr Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: - Unmatched panoramic views of the Las Vegas Strip, including The Sphere, High Roller, and mountains.; - Luxurious primary suite with dual baths, dressing rooms, and freestanding tub with Strip views.; - Chef's kitchen equipped with top-tier appliances and ample counter space.
    (702) 544-0384
    Request Owner's contact information
    1 Hughes Center Dr Las Vegas, NV 89169
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    Las Vegas, NV 89169
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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
    1 Hughes Center Dr Las Vegas, NV 89169
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    We can help!
    Listing Contact
    Randall J. Char
    Randall J. Char
    Real Estate License ID: BS.0143566
    (702) 544-0384 (702) 360-1414
    Learn more
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