Functional Office Warehouse with
For Sale
Contact for pricing
2785 N Lamb Blvd. North Las Vegas NV 89115, North Las Vegas, NV 89115
6,347 SF office warehouse with yard for sale.
Property Size6,347 SF
Lot Size0.47 Acres
Price / SF$228.45
Days on Market486
Property Features for 2785 N Lamb Blvd. North Las Vegas NV 89115
General Information
Standard status
Active
Size
6,347 SF
Lot size
0.47 Acres
Property subtype
Industrial, Special Purpose
Zoning
IP
Building Details
Year Built
2008
Buildings
1
Stories
1
Units
1
Listing Agency:
Griffis Realty Investments
(702) 406-6867
Listed By:
Joe Griffis · License #NV 0077170
Source:
Crexi
Added: Apr 25, 2025
Changed: Aug 16
Last Checked: Aug 21 at 10:19AM
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 Griffis Realty Investments
Investment Insights
Based on property information with market context.
This property features a functional layout with 6,347 square feet of space, including 647 square feet of open office space, a private bathroom, and a reception area. An additional approximately 1,000 square feet of HVAC serviced warehouse space can be used for office, production, or storage. The property also includes a break room. The office area is serviced by HVAC, while the warehouse is cooled by two evaporative coolers. A private warehouse bathroom with a shower is available. The warehouse benefits from eight skylights and a 16-foot clear height. It has a front roll-up door and a rear roll-up door. The property is equipped with 400 amp/120-208v 3-phase power and a clear span warehouse. The yard area is approximately 3,000 square feet, and the buyer has the ability to fence it. Constructed in 2008, the property is zoned IP (Industrial Park). The estimated lot size is 0.47 acres. The property is located in North Las Vegas, NV.
Key Highlights
- Functional office warehouse with yard: combines office, warehouse, and yard space.
- Ample 400amp/120‑208v 3‑phase power.
- Climate controlled spaces: HVAC in office areas and evaporative coolers in the warehouse.
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
$86,884
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
5.99%
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%
$1,737,680
$1.7M
Cap Rate 7%
$1,241,200
$1.2M
Cap Rate 9%
$965,378
$965.4K
Market Conditions
NOI Build-Up for 6,347 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
$137.1K $21.60/SF
− Vacancy
−$21.2K −$3.35/SF
EGI
$115.8K $18.25/SF
− OpEx
−$29.0K −$4.56/SF
NOI
$86.9K $13.69/SF
Area
ZIP 89115
Vacancy
15.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,737,680
Cap Rate 7%
$1,241,200
Cap Rate 9%
$965,378
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $86,884 @ 7.0% cap · market cap 5.99%
Second Best
Warehouse
$972.1K
$850.6K – $1.13M
NOI $68,048 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,830 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 6,347 SF office warehouse with yard for sale.
Where is this warehouse located?
The property is located at 2785 N Lamb Blvd. North Las Vegas NV 89115 North Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Functional office warehouse with yard: combines office, warehouse, and yard space.; Ample 400amp/120‑208v 3‑phase power.; Climate controlled spaces: HVAC in office areas and evaporative coolers in the warehouse.
