Freestanding Single-Story
For Sale
Contact for pricing
139 E Warm Springs, Las Vegas, NV 89123
Professional workspace includes private offices, meeting rooms, a kitchen, and dedicated parking.
Property Size6,300 SF
Price / SF$336.51
Days on Market8
Property Features for 139 E Warm Springs
General Information
Standard status
Active
Size
6,300 SF
Total Parking Spaces
32
Property subtype
Office
Zoning
CP
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Cap Rate
5.5%
Highway Access
Yes
Office Units
1
Amenities
22 private offices
three conference rooms
kitchen/breakroom
equipment and prep area
IT room
large reception/lobby
Building Details
Year Built
2005
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Crown Point Realty
Listed By:
Gidget Graham · License #NV - B.0143551
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 9:44AM
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 Crown Point Realty
Investment Insights
Based on property information with market context.
This 6,300-square-foot office property is a freestanding, single-story building completed in 2005. The interior includes 22 private offices, three conference rooms, a kitchen and breakroom, an equipment and preparation area, an IT room, and a reception and lobby area. Thirty-two parking spaces support the existing professional office configuration.
The property is located at 139 E. Warm Springs in Las Vegas, with access to I-15 and the I-215 Beltway. Harry Reid International Airport and the Las Vegas Strip are identified as nearby destinations, while the central Las Vegas Valley setting provides reach toward Henderson, Summerlin, and surrounding communities.
A single tenant has occupied the building since 2016. The current NNN lease runs through May 2028, and the property is reported at a 5.5% CAP rate. Zoning is CP.
The property is located at 139 E. Warm Springs in Las Vegas, with access to I-15 and the I-215 Beltway. Harry Reid International Airport and the Las Vegas Strip are identified as nearby destinations, while the central Las Vegas Valley setting provides reach toward Henderson, Summerlin, and surrounding communities.
A single tenant has occupied the building since 2016. The current NNN lease runs through May 2028, and the property is reported at a 5.5% CAP rate. Zoning is CP.
Key Highlights
- 6,300‑square‑foot freestanding office building
- Single‑story layout with 22 private offices and three conference rooms
- 32 parking spaces
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
$96,957
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
4.57%
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%
$1,939,140
$1.9M
Cap Rate 7%
$1,385,100
$1.4M
Cap Rate 9%
$1,077,300
$1.1M
Market Conditions
NOI Build-Up for 6,300 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
$151.2K $24.00/SF
− Vacancy
−$21.9K −$3.48/SF
EGI
$129.3K $20.52/SF
− OpEx
−$32.3K −$5.13/SF
NOI
$97.0K $15.39/SF
Area
Las Vegas, NV
Vacancy
14.50%
Lease Rate
$24.00 /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%
$1,939,140
Cap Rate 7%
$1,385,100
Cap Rate 9%
$1,077,300
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $96,957 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.18M
$1.90M – $2.54M
NOI $152,384 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 89123, NV
55,584
Population
25,246
Households
2.2
Avg Household Size
42
Median Age
32%
College-Educated
92%
High-School Grad
10.4 sq mi
ZIP Area
5,345
Density / Sq Mi
$80,992
Median Household Income
$46,838
Median Earnings
$1,641
Median Rent
$424,900
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional workspace includes private offices, meeting rooms, a kitchen, and dedicated parking.
Where is this office building located?
The property is located at 139 E Warm Springs Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,120,000.
What are key features of this property?
This property features: 6,300‑square‑foot freestanding office building; Single‑story layout with 22 private offices and three conference rooms; 32 parking spaces
