Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8988 W Cheyenne Ave # 120 Las Vegas Las Vegas, NV 89129

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Well-maintained medical suite built out for physical therapy use.

    Type:Hospitality
    Property size:
    4 SF
    Added:
    Sep 10, 2025
    Days on Market:
    233
    Last Refresh:
    Apr 5 at 8:21 pm

    Property Features for 8988 W Cheyenne Ave # 120 Las Vegas

    General Information

    Standard status
    Active
    Size
    4 SF
    Property subtype
    Hospitality

    Building Details

    Year Built
    2016

    We can help!

    Listing Contact
    Ron Opfer
    Ron Opfer

    Listing agent Ron Opfer

    Listing office Coldwell Banker Commercial | Premier Realty

    Listing date Sep 10, 2025

    Source Cbcworldwide

    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 Coldwell Banker Commercial | Premier Realty

    Overview

    Medical Suite Ideal for Therapy

    This well-maintained suite is built out for physical therapy use and is suitable for various medical or wellness practices. The layout features four private rooms and a spacious open treatment area. It includes two restrooms, one of which has a shower. A break room is equipped with washer and dryer hookups. The suite also has a centrally located sink in the open area, a welcoming reception area, and modern finishes. The property is located in Las Vegas, Nevada.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness 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
    -115.294
    Latitude
    36.2191

    Nearby Similar for Sale

    • $575,000
      1,882 SF

      Downtown Las Vegas Live/Work Unit

      Commercial storefront with attached condominium in downtown Las Vegas.
      353 E Bonneville Avenue, Las Vegas, NV 89101
      View Details
    • $350,000
      1,077 SF

      Las Vegas High-Rise Loft Living

      Modern loft with city views near the Arts District.
      200 Hoover Avenue, Las Vegas, NV 89101
      View Details
    • $599,995
      1,524 SF

      Las Vegas Penthouse with Strip Views

      Corner penthouse with mountain, sunset, and Strip views.
      8255 Las Vegas Boulevard, Las Vegas, NV 89123
      View Details
    • $3,250,000
      4,826 SF

      Las Vegas Penthouse with Strip Views

      Custom penthouse loft with panoramic views near Aria and CityCenter.
      4471 DEAN MARTIN Drive, Las Vegas, NV 89103
      View Details
    • $795,000
      2,494 SF

      Renovated High-Rise Corner Unit

      Modern Las Vegas corner unit with strip and Red Rocks views.
      4575 Dean Martin Drive, Las Vegas, NV 89103
      View Details
    • $390,000

      Entertainer's Dream Motorcoach Living Site

      Impeccable Las Vegas site built for year-round comfort.
      8175 Arville Street, Las Vegas, NV 89139
      View Details
    • $330,000
      520 SF

      Las Vegas High-Rise Studio

      Fully furnished, turnkey studio with Strip views and income potential.
      135 E Harmon Avenue, Las Vegas, NV 89109
      View Details
    • $499,888
      910 SF

      Luxury High-Rise Condo, Las Vegas

      Fully furnished 1-bedroom condo with rental program potential.
      2000 FASHION SHOW Drive, Las Vegas, NV 89109
      View Details
    • $598,000
      1,296 SF

      Las Vegas High-Rise Residence

      Corner residence near the Las Vegas Strip with city views.
      205 E Harmon Avenue, Las Vegas, NV 89169
      View Details
    • $380,000

      Las Vegas Motorcoach Resort Site

      Fully loaded site with rare privacy and luxury amenities.
      8175 Arville Street, Las Vegas, NV 89139
      View Details
    • $999,999
      2,805 SF

      Luxury High-Rise with City Views

      Ultra-luxury tower near the Las Vegas Strip with stunning views.
      2747 Paradise Road, Las Vegas, NV 89109
      View Details
    • $935,000
      2,805 SF

      Luxury High-Rise Residence in Las Vegas

      Fully furnished 3-bedroom residence with stunning views and modern amenities.
      2747 Paradise Road, Las Vegas, NV 89109
      View Details

    FAQs

    What type of property is this?
    Medical space - Well-maintained medical suite built out for physical therapy use.
    Where is this medical space located?
    The property is located at 8988 W Cheyenne Ave # 120 Las Vegas Las Vegas, NV.
    What are key features of this property?
    This property features: Built‑out for physical therapy, ideal for medical/wellness practices.; Features **four private rooms** and a **spacious open treatment area.**; Two restrooms, one with a shower.
    (702) 900-3102
    We can help!
    Listing Contact
    Ron Opfer
    Ron Opfer
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!