Downtown Multifamily
For Sale
Contact for pricing
223 N 9th St, Las Vegas, NV 89101
Multi-unit residential property with a central Downtown Las Vegas location and access to nearby dining, entertainment, and transit.
Property Size11,120 SF
Price / SF$233.81
Days on Market180
Property Features for 223 N 9th St
General Information
Standard status
Active
Size
11,120 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Investment Type
Sale/Leaseback
Net Operating Income
$41,773
Additional Details
Public Transit
Yes
Building Details
Year Built
1970
Units
27
Listing Agency:
Vice Realty Group
Listed By:
Derek Moellinger · License #NV B.1006381
(702) 825-4663
Source:
Crexi
Added: Apr 23
Changed: Oct 13
Last Checked: Oct 16 at 6:48AM
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 Vice Realty Group
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Investment Insights
Based on property information with market context.
This multifamily property contains 11,120 square feet and was built in 1970. The multi-unit configuration supports residential income use, with the property positioned in Downtown Las Vegas.
The location places the property near Fremont Street, dining, entertainment, and transit. It also offers central access to the Strip and employment hubs, with walkable connections to surrounding amenities.
The location places the property near Fremont Street, dining, entertainment, and transit. It also offers central access to the Strip and employment hubs, with walkable connections to surrounding amenities.
Key Highlights
- 11,120‑square‑foot multifamily property
- Built in 1970
- Located in Downtown Las Vegas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,279
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,365,580
$2.4M
Cap Rate 7%
$1,689,700
$1.7M
Cap Rate 9%
$1,314,211
$1.3M
Market Conditions
NOI Build-Up for 11,120 SF
Gross rent
$226.8K $20.40/SF
− Vacancy
−$11.8K −$1.06/SF
EGI
$215.1K $19.34/SF
− OpEx
−$96.8K −$8.70/SF
NOI
$118.3K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,365,580
Cap Rate 7%
$1,689,700
Cap Rate 9%
$1,314,211
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,279 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.84M
$3.36M – $4.48M
NOI $268,970 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,732
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit residential property with a central Downtown Las Vegas location and access to nearby dining, entertainment, and transit.
Where is this multifamily property located?
The property is located at 223 N 9th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 11,120‑square‑foot multifamily property; Built in 1970; Located in Downtown Las Vegas
