Professional-Zoned Mixed-Use
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For Sale
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1505 South Eastern Avenue, Las Vegas, NV 89104
The property carries Professional zoning and is located in Las Vegas.
Property Size1,418 SF
Price / SF$211.56
Days on Market6
Property Features for 1505 South Eastern Avenue
General Information
Standard status
Active
Size
1,418 SF
Property subtype
Retail, Office
Zoning
Professional
Additional Details
Public Transit
Yes
Building Details
Year Built
1953
Stories
1
Listing Agency:
Wardley Real Estate
(831) 430-6005
Listed By:
Tracy Winkelman · License #NV 0174101
Source:
Crexi
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 11 at 6:57PM
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 Wardley Real Estate
Investment Insights
Based on property information with market context.
Located at 1505 South Eastern Avenue in Las Vegas, Nevada, this mixed-use commercial property was constructed in 1953. The asset is designated Professional under the stated zoning classification, supporting its commercial positioning within an established Las Vegas corridor.
The property is situated near established businesses and major transit routes. Its Eastern Avenue location places it within a developed commercial setting with access and frontage identified among the property’s physical characteristics.
The property is situated near established businesses and major transit routes. Its Eastern Avenue location places it within a developed commercial setting with access and frontage identified among the property’s physical characteristics.
Key Highlights
- Mixed‑use commercial property at 1505 South Eastern Avenue, Las Vegas, NV 89104
- Professional zoning designation
- Year built: 1953
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
$21,823
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
7.27%
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%
$436,460
$436.5K
Cap Rate 7%
$311,757
$311.8K
Cap Rate 9%
$242,478
$242.5K
Market Conditions
NOI Build-Up for 1,418 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
$34.0K $24.00/SF
− Vacancy
−$4.9K −$3.48/SF
EGI
$29.1K $20.52/SF
− OpEx
−$7.3K −$5.13/SF
NOI
$21.8K $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%
$436,460
Cap Rate 7%
$311,757
Cap Rate 9%
$242,478
Alternative Uses
Best Use
Retail
$457.3K
$400.2K – $533.5K
NOI $32,012 @ 7.0% cap · market cap 10.67%
Second Best
Office B
$311.8K
$272.8K – $363.7K
NOI $21,823 @ 7.0% cap · market cap 7.27%
Theoretical Best
Specialty Retail
$490.0K
$428.7K – $571.7K
NOI $34,299 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,283
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
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?
Mixed-use property - The property carries Professional zoning and is located in Las Vegas.
Where is this mixed-use property located?
The property is located at 1505 South Eastern Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Mixed‑use commercial property at 1505 South Eastern Avenue, Las Vegas, NV 89104; Professional zoning designation; Year built: 1953
