New 12-Unit Apartment
For Sale
$2,500,000
Pending
100 E 1st S St, Mesquite, NV 89027
Multi Family, 2 story above ground, Mesquite, NV
Property Size10,800 SF
Lot Size0.73 Acres
Days on Market216
Property Features for 100 E 1st S St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
24
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 10, Bedroom 11, Bedroom 19, Bedroom 13, Bedroom 6, Bedroom 8, Bathroom 8, Bedroom 2, Bathroom 9, Bedroom 7, Bedroom 24, Bedroom 12, Bathroom 7, Bedroom 4, Bathroom 12, Bedroom 16, Bedroom 14, Bathroom 1, Bedroom 15, Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 23, Bedroom 17, Bathroom 11, Bedroom 18, Bathroom 5, Bathroom 6, Bedroom 10, Bedroom 22, Bathroom 2, Bedroom 20, Bedroom 1, Bathroom 4, Bedroom 21, Bedroom 9
Interior features
Ceiling Fans, Flooring- Carpet, Flooring- Laminate, Wheelchair Accessible, Vaulted Ceilings
Accessibility
Accessible Approach with Ramp
Appliances
Dishwasher, Freezer, Garbage Disposal, Microwave, Refrigerator, W/D Hookups, Washer & Dryer, Water Heater- Electric, Oven/Range, Oven/Range- Electric
Subdivision
None (No Subdivision)
Lot features
Corner Lot, Cul-de-sac, Landscape- Full, Sidewalks, Sprinklers- Drip System, View of City, View of Mountains
Elementary school
Virgin Valley
Middle school
Charles A. Hughes
High school
Virgin Valley
Standard status
Pending
APN
00116702001
Size
10,800 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
14126
Utilities
Utilities
Cable Available
Heating system
Central, Electric (Heating), Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air, Electric
Building Details
Year built
2024
Floors in Building
2
Number of units
12
Roof type
Tile
Architectural style
Other
Listing Agency:
Prime Properties Mesquite
Listed By:
E. Shaun Caldwell · License #B.0143955.LLC
(702) 701-3326
Added: Feb 15
Changed: Sep 15
Last Checked: Sep 19 at 3:06PM
MLS# 1127401
Copyright © 2026 Mesquite Real Estate Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2024, this 12-unit apartment property contains 10,800 square feet across 0.73 acres. Each residence provides two bedrooms, one bathroom, and approximately 900 square feet, with vaulted ceilings, a mix of carpet and laminate flooring, ceiling fans, and wheelchair-accessible features. Kitchens include an electric range, refrigerator, microwave, dishwasher, and garbage disposal, while washer and dryer hookups are also provided. Central electric heating and cooling serve the units, and the building has a tile roof.
The property is located at 100 E 1st S St in Mesquite, behind the Mesquite City offices and near the city center. Its setting provides access to nearby daily needs within walking distance while remaining off the main streets. Residents also have south-facing mountain views and ample parking. The property is zoned Multi-Family.
The property is located at 100 E 1st S St in Mesquite, behind the Mesquite City offices and near the city center. Its setting provides access to nearby daily needs within walking distance while remaining off the main streets. Residents also have south-facing mountain views and ample parking. The property is zoned Multi-Family.
Key Highlights
- 12‑unit apartment property built in 2024
- All 12 units include 2 bedrooms, 1 bathroom, and 900 sf
- 10,800 square feet situated on 0.73 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,306
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,546,120
$2.5M
Cap Rate 7%
$1,818,657
$1.8M
Cap Rate 9%
$1,414,511
$1.4M
Market Conditions
NOI Build-Up for 10,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$243.6K $22.56/SF
− Vacancy
−$12.2K −$1.13/SF
EGI
$231.5K $21.43/SF
− OpEx
−$104.2K −$9.64/SF
NOI
$127.3K $11.79/SF
Area
Clark County, NV
Vacancy
5.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,546,120
Cap Rate 7%
$1,818,657
Cap Rate 9%
$1,414,511
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,306 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,187 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 89027, NV
17,547
Population
9,972
Households
1.8
Avg Household Size
59
Median Age
22%
College-Educated
89%
High-School Grad
12.5 sq mi
ZIP Area
1,404
Density / Sq Mi
$71,176
Median Household Income
$35,938
Median Earnings
$1,106
Median Rent
$343,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently built residences offer two-bedroom layouts, south-facing mountain views, and ample on-site parking.
Where is this apartment building located?
The property is located at 100 E 1st S St Mesquite, NV.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12‑unit apartment property built in 2024; All 12 units include 2 bedrooms, 1 bathroom, and 900 sf; 10,800 square feet situated on 0.73 acres
