Renovated Downtown Las Vegas
For Sale
Contact for pricing
1101 E Clark Ave, Las Vegas, NV 89101
Fully renovated 10-unit apartment building in Downtown Las Vegas.
Property Size7,000 SF
Lot Size0.25 Acres
Price / SF$264.29
Days on Market313
Property Features for 1101 E Clark Ave
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Zoning
L:R-4
Building Details
Year Built
1954
Listing Agency:
Northcap Commercial
Listed By:
Jerad Roberts · License #NV 144595
Source:
Crexi
Added: Oct 4, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northcap Commercial
Investment Insights
Based on property information with market context.
The Clark Apartments, located at 1101 E Clark Ave in Downtown Las Vegas, is a fully renovated 10-unit multi-family apartment building. Constructed in 1954, this two-story garden-style building features wood frame construction, a stucco exterior, and a flat roof. The property spans 7,000 square feet on a 0.25-acre corner lot at the intersection of 11th Street and East Clark Avenue. The unit mix includes six one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units. Each unit is equipped with individual HVAC systems, air conditioning/heating, oven/stove, range, and refrigerator. Electricity is individually metered for each unit. Situated in the Legal District of Downtown Las Vegas, the property benefits from the area's blend of historic charm and modern revival. The neighborhood offers a mix of commercial, cultural, and culinary experiences, including fine dining, live music venues, art galleries in the nearby Arts District, and the Fremont Street Experience. The area features boutique shops, breweries, and community events.
Key Highlights
- Fully renovated 10‑unit multi‑family apartment building in Downtown Las Vegas.
- Prime location in the Legal District, near dining, arts, and Fremont Street.
- Attractive mix of six 1‑bedroom/1‑bathroom and four 2‑bedroom/1‑bathroom units.
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
$74,456
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
4.02%
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%
$1,489,120
$1.5M
Cap Rate 7%
$1,063,657
$1.1M
Cap Rate 9%
$827,289
$827.3K
Market Conditions
NOI Build-Up for 7,000 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
$142.8K $20.40/SF
− Vacancy
−$7.4K −$1.06/SF
EGI
$135.4K $19.34/SF
− OpEx
−$60.9K −$8.70/SF
NOI
$74.5K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /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%
$1,489,120
Cap Rate 7%
$1,063,657
Cap Rate 9%
$827,289
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$930.7K – $1.24M
NOI $74,456 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.82M
NOI $169,316 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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 - Fully renovated 10-unit apartment building in Downtown Las Vegas.
Where is this apartment building located?
The property is located at 1101 E Clark Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Fully renovated 10‑unit multi‑family apartment building in Downtown Las Vegas.; Prime location in the Legal District, near dining, arts, and Fremont Street.; Attractive mix of six 1‑bedroom/1‑bathroom and four 2‑bedroom/1‑bathroom units.
