Medical Office Building with Cell
For Sale
$2,250,000
2458 East Russell Road, Las Vegas, NV 89120
Built-out facility contains two dental offices, is fully occupied, and carries Commercial Professional (CP) zoning.
Property Size5,080 SF
Days on Market294
Property Features for 2458 East Russell Road
General Information
Standard status
Active
Size
5,080 SF
Class
A
Property subtype
HC, OFC, SPEC
Zoning
Commercial Professional (CP)
Occupancy
100%
Building Details
Building Size
5,080 SF
Year Built
1994
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams - VIP
(702) 301-4275
Listed By:
Kim Henry · License #BS.0144445.LLC
Source:
Realnex
Added: Nov 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:00AM
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 Keller Williams - VIP
Investment Insights
Based on property information with market context.
This medical office property was constructed in 1994 and is configured with two dental offices in a built-out professional setting. The building is fully occupied and situated on a large lot, providing an established operating profile for an office-focused owner or investor.
A cell tower is located on the property and generates additional revenue through a ground lease. The tower may also be available for separate sale. The property is zoned Commercial Professional (CP) and is located at 2458 East Russell Road in Las Vegas, Nevada.
A cell tower is located on the property and generates additional revenue through a ground lease. The tower may also be available for separate sale. The property is zoned Commercial Professional (CP) and is located at 2458 East Russell Road in Las Vegas, Nevada.
Key Highlights
- Two dental offices within a built‑out medical facility
- Fully occupied medical office property
- Cell tower provides additional revenue through a ground lease
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
$78,181
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
3.47%
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%
$1,563,620
$1.6M
Cap Rate 7%
$1,116,871
$1.1M
Cap Rate 9%
$868,678
$868.7K
Market Conditions
NOI Build-Up for 5,080 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
$121.9K $24.00/SF
− Vacancy
−$17.7K −$3.48/SF
EGI
$104.2K $20.52/SF
− OpEx
−$26.1K −$5.13/SF
NOI
$78.2K $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%
$1,563,620
Cap Rate 7%
$1,116,871
Cap Rate 9%
$868,678
Alternative Uses
Best Use
Office B
$1.12M
$977.3K – $1.30M
NOI $78,181 @ 7.0% cap · market cap 3.47%
Second Best
Healthcare Medical
$961.4K
$841.3K – $1.12M
NOI $67,300 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,875 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89120, NV
24,813
Population
9,861
Households
2.5
Avg Household Size
40
Median Age
26%
College-Educated
88%
High-School Grad
7.1 sq mi
ZIP Area
3,495
Density / Sq Mi
$75,813
Median Household Income
$38,774
Median Earnings
$1,467
Median Rent
$364,800
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.
Similar Off Market Nearby
- PetSmart Veterinary Services - Las Vegas (McCarran Mkt P) — 5915 S Eastern Ave, Las Vegas, NV 89119
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out facility contains two dental offices, is fully occupied, and carries Commercial Professional (CP) zoning.
Where is this medical office space located?
The property is located at 2458 East Russell Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Two dental offices within a built‑out medical facility; Fully occupied medical office property; Cell tower provides additional revenue through a ground lease
