Built-Out Professional Office
For Sale
Contact for pricing
1880 E Warm Springs Rd Suite 135, Las Vegas, NV 89119
Turnkey office suite with multiple private offices, conference rooms, reception, restrooms, and breakroom setup.
Property Size2,652 SF
Price / SF$395.93
Days on Market55
Property Features for 1880 E Warm Springs Rd Suite 135
General Information
Standard status
Active
Size
2,652 SF
Property subtype
Office
Zoning
Commercial Professional (CP)
Investment Type
Owner/User
Building Details
Year Built
2007
Listing Agency:
Cambridge Group
(702) 335-7719
Listed By:
Jordan Hanley · License #BS.014889
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 11 at 6:55PM
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 Cambridge Group
Investment Insights
Based on property information with market context.
This fully built-out professional office suite offers an efficient layout designed for day-to-day operations. The space includes multiple private offices, conference rooms, an open work area, reception, private restrooms, and a breakroom. The suite is well-suited for an owner-user who wants immediate functionality without added build-out requirements, and it also offers flexibility since it can be demised into two separate units.
The property is positioned along the Warm Springs corridor, with convenient access to Interstate 215 and Interstate 15. Additional regional connectivity includes Harry Reid International Airport and access to the Las Vegas Strip, supporting a broad range of professional tenant and user needs.
From a tenant or buyer perspective, the interior configuration supports a range of office uses that require both collaborative and private work settings. The ability to operate as a single suite or as two units can help accommodate changing occupancy strategies while keeping the premises purpose-built for professional work environments.
The property is positioned along the Warm Springs corridor, with convenient access to Interstate 215 and Interstate 15. Additional regional connectivity includes Harry Reid International Airport and access to the Las Vegas Strip, supporting a broad range of professional tenant and user needs.
From a tenant or buyer perspective, the interior configuration supports a range of office uses that require both collaborative and private work settings. The ability to operate as a single suite or as two units can help accommodate changing occupancy strategies while keeping the premises purpose-built for professional work environments.
Key Highlights
- 2,652 SF professional office suite built in 2007
- Efficient layout with multiple private offices, conference rooms, open work areas, and reception
- Includes private restrooms and a breakroom
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
$40,814
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
3.89%
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%
$816,280
$816.3K
Cap Rate 7%
$583,057
$583.1K
Cap Rate 9%
$453,489
$453.5K
Market Conditions
NOI Build-Up for 2,652 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
$63.6K $24.00/SF
− Vacancy
−$9.2K −$3.48/SF
EGI
$54.4K $20.52/SF
− OpEx
−$13.6K −$5.13/SF
NOI
$40.8K $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%
$816,280
Cap Rate 7%
$583,057
Cap Rate 9%
$453,489
Alternative Uses
Best Use
Office B
$583.1K
$510.2K – $680.2K
NOI $40,814 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$916.4K
$801.8K – $1.07M
NOI $64,146 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
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 - Turnkey office suite with multiple private offices, conference rooms, reception, restrooms, and breakroom setup.
Where is this office units located?
The property is located at 1880 E Warm Springs Rd Suite 135 Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2,652 SF professional office suite built in 2007; Efficient layout with multiple private offices, conference rooms, open work areas, and reception; Includes private restrooms and a breakroom
