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

    840 S Commerce St Las Vegas, NV 89106

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $19,800,000

    6.5 acres in Downtown Civic & Business District.

    Lot size:
    6.50 Acres

    Property Features for 840 S Commerce St

    General Information

    Property type
    Land
    Standard status
    Active
    Lot size
    6.50 Acres

    We can help!

    Listing Contact
    Tanya J Murray
    Tanya J Murray
    Source: Elliman

    Listing Agency: Las Vegas-ERA Brokers Consolidated Listing Agent: Tanya J Murray

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Las Vegas Development Opportunity

    Located at the intersection of Bonneville and Main in the Downtown Civic & Business District, this property is suitable for mixed-use, industrial, office, and retail development. The site consists of two contiguous parcels totaling 6.5 acres. It features dedicated access from Main St. and Commerce St. Zoned Industrial District (M), the property has utilities available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Hair Salon Auto Repair Shop Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.15257
    Latitude
    36.163189

    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 Ave, Las Vegas, NV 89101
      View Details
    • New
      $3,499,000
      3,616 SF

      Las Vegas Penthouse with Panoramic Views

      Luxury penthouse with strip views and five-star amenities.
      4471 Dean Martin Dr, Las Vegas, NV 89103
      View Details
    • $435,000
      0.06 Acres

      Resort-Style Living in Las Vegas

      Move-in-ready property with outdoor living and resort-style amenities.
      8175 Arville St, Las Vegas, NV 89139
      View Details
    • New
      $999,000
      860 SF

      Upgraded Resort-Style Living in Las Vegas

      Upgraded, fully enclosed structure on an oversized lot in Las Vegas.
      8175 Arville St, Las Vegas, NV 89139
      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 Rd, Las Vegas, NV 89109
      View Details
    • New
      $999,999
      2,805 SF

      Luxury High-Rise with City Views

      Ultra-luxury tower near the Las Vegas Strip with stunning views.
      2747 Paradise Rd, Las Vegas, NV 89109
      View Details
    • $3,890,000
      4,826 SF

      Las Vegas Penthouse with Strip Views

      Unique penthouse with strip and stadium views in Las Vegas.
      4471 Dean Martin Dr, Las Vegas, NV 89103
      View Details
    • $329,000
      520 SF

      Penthouse Studio with Strip Views

      Rare penthouse studio with panoramic Strip views and oversized balcony.
      135 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $300,000
      534 SF

      Luxurious High-Rise Studio in Las Vegas

      Fully furnished condo/hotel suite with premium amenities and Strip views.
      2000 N Fashion Show Dr, Las Vegas, NV 89109
      View Details
    • $319,888
      520 SF

      Las Vegas Penthouse Studio

      Strip-side penthouse studio with balcony, views, and AirBNB approval.
      125 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $350,000
      534 SF

      Trump International Hotel Studio Residence

      Sophisticated studio with Strip views in Trump International Hotel.
      2000 N Fashion Show Dr, Las Vegas, NV 89109
      View Details
    • $990,000
      2,805 SF

      Luxury High-Rise Condo with Strip Views

      Upscale Las Vegas condo with private elevator and stunning views.
      2857 Paradise Rd, Las Vegas, NV 89109
      View Details

    FAQs

    What type of property is this?
    Land - 6.5 acres in Downtown Civic & Business District.
    Where is this land located?
    The property is located at 840 S Commerce St Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $19,800,000.
    What are key features of this property?
    This property features: - Prime location in the Downtown Civic & Business District at the intersection of Bonneville and Main.; - Suited for Mixed Use, Industrial, Office, and Retail development.; - Two contiguous parcels totaling 6.5 acres.
    (702) 241-4494
    Request Owner's contact information
    840 S Commerce St Las Vegas, NV 89106
    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.
    840 S Commerce St
    Las Vegas, NV 89106
    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
    840 S Commerce St Las Vegas, NV 89106
    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

    We can help!
    Listing Contact
    Tanya J Murray
    Tanya J Murray
    Real Estate License ID: S.51142
    (702) 241-4494 (702) 873-4500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!