Leased Office Condo Investment
For Sale
$1,525,000
1358 Paseo Verde Parkway, Henderson, NV 89012
100% leased office condo with long-term healthcare tenants.
Property Size4,493 SF
Days on Market333
Property Features for 1358 Paseo Verde Parkway
General Information
Standard status
Active
Size
4,493 SF
Class
B
Property subtype
Office
Zoning
Office Professional
Amenities
Location-215/Stephanie On Ramp
High Image-Architectural masterpiece
Signalized Intersection
Retail amenities all around
Huge Residential development area in a 3 mile Radius
100% Leased Investment with long term tenants, and long term leases in place (5+ years)
Quality second Story offering.
Building Details
Building Size
4,493 SF
Year Built
2013
Listing Agency:
RE/MAX
(702) 287-6553
Listed By:
Wes Drown,CCIM · License #BS000387
(702) 287-6553
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 23 at 2:25AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This second-floor office condo features three suites and is currently 100% leased. The primary tenant, Optimal Physical Therapy, has occupied approximately 70% of the property since 2014. All three suites feature modern finishes. One suite, comprising 746 square feet, was recently leased for a 2-year term. The owner is seeking to lease back Suite C, which measures 660 square feet. The elevator serving the top floor is covered and located outside the building structure, shared by three buildings in a four-building cluster. This design contributes to a minimal load factor and low operating costs. The property is a true NNN investment opportunity with two long-term healthcare tenants in place since the building's construction, both under new 5-7 year leases. The property is located in Crowne Professional Park, situated in Henderson, Nevada, on the 215 Beltway near the Stephanie on-ramp. The location offers high visibility and is considered an architectural masterpiece at a signalized intersection with retail amenities nearby. A large residential development area is located within a 3-mile radius.
Key Highlights
- 100% leased office condo with long‑term tenants (5+ year leases) in place, providing immediate income.
- Located in a high‑growth area of Henderson, Nevada, near the 215 Beltway and Stephanie on‑ramp.
- True NNN investment property with low operating costs and built‑in annual income escalations.
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
$73,727
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
4.83%
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%
$1,474,540
$1.5M
Cap Rate 7%
$1,053,243
$1.1M
Cap Rate 9%
$819,189
$819.2K
Market Conditions
NOI Build-Up for 4,493 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
$119.2K $26.52/SF
− Vacancy
−$20.9K −$4.64/SF
EGI
$98.3K $21.88/SF
− OpEx
−$24.6K −$5.47/SF
NOI
$73.7K $16.41/SF
Area
Henderson, NV
Vacancy
17.50%
Lease Rate
$26.52 /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%
$1,474,540
Cap Rate 7%
$1,053,243
Cap Rate 9%
$819,189
Alternative Uses
Best Use
Office B
$1.05M
$921.6K – $1.23M
NOI $73,727 @ 7.0% cap · market cap 4.83%
Second Best
Healthcare Medical
$888.0K
$777.0K – $1.04M
NOI $62,160 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,175 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
886
Businesses Nearby
Explore this area
Business Placement
Demographics for 89012, NV
35,211
Population
16,776
Households
2.1
Avg Household Size
44
Median Age
44%
College-Educated
97%
High-School Grad
10.7 sq mi
ZIP Area
3,291
Density / Sq Mi
$97,468
Median Household Income
$56,708
Median Earnings
$1,915
Median Rent
$472,100
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.
Frequently Asked Questions
What type of property is this?
Office units - 100% leased office condo with long-term healthcare tenants.
Where is this office units located?
The property is located at 1358 Paseo Verde Parkway Henderson, NV.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 100% leased office condo with long‑term tenants (5+ year leases) in place, providing immediate income.; Located in a high‑growth area of Henderson, Nevada, near the 215 Beltway and Stephanie on‑ramp.; True NNN investment property with low operating costs and built‑in annual income escalations.
