Two-Building Office
For Sale
Contact for pricing
1480 Center Crossing Road, Las Vegas, NV 89144
Modern office asset with triple net leases and annual rent increases.
Property Size50,223 SF
Price / SF$505.74
Days on Market53
Property Features for 1480 Center Crossing Road
General Information
Standard status
Active
Size
50,223 SF
Property subtype
Office
Site & Location
Neighborhood
Sun City Summerlin
Additional Details
Cap Rate
6%
Building Details
Year Built
2024
Buildings
2
Listing Agency:
IREPLV LLC
Listed By:
Mike Young · License #B.0146036.LLC
Source:
Crexi
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 30 at 11:28AM
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 IREPLV LLC
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Investment Insights
Based on property information with market context.
This office property comprises two 2024-constructed buildings totaling 50,223 square feet. The buildings are located at 1480 Center Crossing Road and 1490 Center Crossing Road within an office park in Summerlin, a master-planned community in Las Vegas.
Leasing is established across both buildings, with 1480 Center Crossing Road 91.2% leased and 1490 Center Crossing Road fully leased. The latter is anchored by Americana, a national credit tenant with approximately 7.5 years remaining on its current term. The asset is structured with triple net leases and 3% annual rent increases.
Leasing is established across both buildings, with 1480 Center Crossing Road 91.2% leased and 1490 Center Crossing Road fully leased. The latter is anchored by Americana, a national credit tenant with approximately 7.5 years remaining on its current term. The asset is structured with triple net leases and 3% annual rent increases.
Key Highlights
- Two 2024‑constructed office buildings totaling 50,223 square feet
- 1480 Center Crossing Road is 91.2% leased
- 1490 Center Crossing Road is 100% leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$772,932
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,458,640
$15.5M
Cap Rate 7%
$11,041,886
$11.0M
Cap Rate 9%
$8,588,133
$8.6M
Market Conditions
NOI Build-Up for 50,223 SF
Gross rent
$1.21M $24.00/SF
− Vacancy
−$174.8K −$3.48/SF
EGI
$1.03M $20.52/SF
− OpEx
−$257.6K −$5.13/SF
NOI
$772.9K $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 Rate 5%
$15,458,640
Cap Rate 7%
$11,041,886
Cap Rate 9%
$8,588,133
Alternative Uses
Best Use
Office B
$11.04M
$9.66M – $12.88M
NOI $772,932 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$17.35M
$15.18M – $20.25M
NOI $1,214,791 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
1,943
Businesses Nearby
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Business Placement
Demographics for 89144, NV
19,533
Population
8,684
Households
2.2
Avg Household Size
43
Median Age
47%
College-Educated
94%
High-School Grad
4.5 sq mi
ZIP Area
4,341
Density / Sq Mi
$100,398
Median Household Income
$60,841
Median Earnings
$1,907
Median Rent
$486,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Las Vegas, NV
Frequently Asked Questions
What type of property is this?
Office building - Modern office asset with triple net leases and annual rent increases.
Where is this office building located?
The property is located at 1480 Center Crossing Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $25,400,000.
What are key features of this property?
This property features: Two 2024‑constructed office buildings totaling 50,223 square feet; 1480 Center Crossing Road is 91.2% leased; 1490 Center Crossing Road is 100% leased
