Two-Building Office
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For Sale
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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 Market7
Property Features for 1480 Center Crossing Road
General Information
Standard status
Active
Size
50,223 SF
Property subtype
Office
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: Sep 15
Last Checked: Sep 15 at 6:49AM
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
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 = 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
$772,932
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
3.04%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,943
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Office in Las Vegas, NV
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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
