Freestanding Industrial
For Sale
$3,700,000
2017 West Gowan Road, North Las Vegas, NV 89032
M-2 zoning, office space, loading doors, and a private yard support the property’s industrial configuration.
Property Size18,572 SF
Price / SF$199.22
Days on Market55
Property Features for 2017 West Gowan Road
General Information
Standard status
Active
Size
18,572 SF
Property subtype
Industrial
Zoning
M-2
Occupancy
100%
Net Operating Income
$198,606
Warehouse & Industrial
Warehouse Space
17,444 SF
Office Build-Out
1,128 SF
Drive-In Doors
3
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
18,572 SF
Year Built
1984
Buildings
1
Tenancy
Single
Listing Agency:
(702) 610-1002
Listed By:
Jarrad Katz, SIOR, CCIM · License #NV #B.0145888.LLC
(702) 610-1002
Source:
Corfac
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 30 at 1:45PM
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 Jarrad Katz, SIOR, CCIM
Investment Insights
Based on property information with market context.
The freestanding industrial warehouse at 2017 West Gowan Road contains approximately 18,572 SF, including approximately 1,128 SF of office space with a lobby, three private offices, and three restrooms. Approximately 17,444 SF is dedicated to warehouse space. Three exterior grade-level loading doors serve the building, with two at the front and one along the side. The property also includes an approximately 8,500 SF private yard.
The building was constructed in 1984 and is zoned M-2. It is currently 100% occupied, with the tenant willing to vacate for an owner-user purchase. The property is in the North Las Vegas submarket, surrounded by residential planned neighborhoods and retail amenities. It is approximately 3.7 miles from North Las Vegas Airport, 4.9 miles from the I-11 Freeway, and 3.1 miles from the I-15 Freeway.
The building was constructed in 1984 and is zoned M-2. It is currently 100% occupied, with the tenant willing to vacate for an owner-user purchase. The property is in the North Las Vegas submarket, surrounded by residential planned neighborhoods and retail amenities. It is approximately 3.7 miles from North Las Vegas Airport, 4.9 miles from the I-11 Freeway, and 3.1 miles from the I-15 Freeway.
Key Highlights
- ±18,572 SF freestanding industrial building
- ±17,444 SF warehouse area plus ±1,128 SF of office space
- Three exterior grade‑level loading doors: two front and one side
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
$164,486
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
4.45%
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%
$3,289,720
$3.3M
Cap Rate 7%
$2,349,800
$2.3M
Cap Rate 9%
$1,827,622
$1.8M
Market Conditions
NOI Build-Up for 18,572 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
$211.7K $11.40/SF
− Vacancy
−$18.2K −$0.98/SF
EGI
$193.5K $10.42/SF
− OpEx
−$29.0K −$1.56/SF
NOI
$164.5K $8.86/SF
Area
North Las Vegas, NV
Vacancy
8.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
15.00%
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%
$3,289,720
Cap Rate 7%
$2,349,800
Cap Rate 9%
$1,827,622
Alternative Uses
Best Use
Warehouse
$2.35M
$2.06M – $2.74M
NOI $164,486 @ 7.0% cap · market cap 4.45%
Second Best
Industrial
$1.94M
$1.69M – $2.26M
NOI $135,459 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$5.03M
$4.40M – $5.86M
NOI $351,813 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89032, NV
47,324
Population
16,514
Households
2.9
Avg Household Size
36
Median Age
16%
College-Educated
82%
High-School Grad
10.0 sq mi
ZIP Area
4,732
Density / Sq Mi
$74,661
Median Household Income
$40,155
Median Earnings
$1,646
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - M-2 zoning, office space, loading doors, and a private yard support the property’s industrial configuration.
Where is this warehouse located?
The property is located at 2017 West Gowan Road North Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: ±18,572 SF freestanding industrial building; ±17,444 SF warehouse area plus ±1,128 SF of office space; Three exterior grade‑level loading doors: two front and one side
