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 Market188
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
Bedroom 23, Bedroom 20, Bathroom 7, Bedroom 22, Bedroom 14, Bedroom 24, Bedroom 1, Bedroom 13, Bedroom 11, Bedroom 2, Bathroom 11, Bedroom 6, Bathroom 5, Bathroom 1, Bedroom 12, Bathroom 9, Bathroom 10, Bedroom 17, Bedroom 5, Bathroom 8, Bathroom 12, Bathroom 4, Bedroom 10, Bedroom 16, Bedroom 18, Bedroom 21, Bedroom 8, Bedroom 9, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 15, Bedroom 7, Bathroom 2, Bedroom 19, Bathroom 6
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
Heat Pump (Heating), Electric (Heating), Central, Forced Air
Cooling system
Heat Pump, Electric, Central Air
Building Details
Year built
2024
Floors in Building
2
Number of units
12
Roof type
Tile
Architectural style
Other
Listing Agency:
Prime Properties Mesquite
(702) 701-3326
Listed By:
E. Shaun Caldwell · License #B.0143955.LLC
(702) 701-3326
Added: Feb 15
Changed: Aug 19
Last Checked: Aug 22 at 5:06PM
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.
New apartment building offering 12 units built in 2024. Each unit is a two-bedroom, one-bath layout with 900 SF, and features include ceiling fans, carpet and laminate flooring, vaulted ceilings, and wheelchair accessibility with an accessible approach ramp. Heating is forced air with central electric and heat pump systems, and cooling is electric/heat pump with central air. The building is roofed with tile and each unit includes in-unit appliances such as a dishwasher, microwave, refrigerator, garbage disposal, and washer and dryer hookups.
Set on a 0.73-acre lot, the property is located behind the Mesquite City offices near the city center, with the units described as having mountain views to the south. Ample parking is noted, and the property is off the main streets for a quieter location.
Operationally, the property is reported as fully occupied with a 1.7% vacancy factor in 2025. A 4.9% net net cap rate is cited based on the stated assumptions at list price, with room noted for rent growth over time.
Set on a 0.73-acre lot, the property is located behind the Mesquite City offices near the city center, with the units described as having mountain views to the south. Ample parking is noted, and the property is off the main streets for a quieter location.
Operationally, the property is reported as fully occupied with a 1.7% vacancy factor in 2025. A 4.9% net net cap rate is cited based on the stated assumptions at list price, with room noted for rent growth over time.
Key Highlights
- 12 units, each a two‑bedroom, one‑bath layout at 900 SF
- New construction completed in 2024 with wheelchair‑accessible ramp approach
- 0.73‑acre lot with ample parking and described mountain views to the south
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
Property Profile
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
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 - Zoned multi-family with 12 new two-bedroom, one-bath units, fully occupied with ample parking and central HVAC.
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 units, each a two‑bedroom, one‑bath layout at 900 SF; New construction completed in 2024 with wheelchair‑accessible ramp approach; 0.73‑acre lot with ample parking and described mountain views to the south
