Professional Office
For Sale
Contact for pricing
2500 N Buffalo Drive Suite 220, Las Vegas, NV 89128
Flexible commercial workspace supports medical, wellness, legal, financial, and general office functions.
Property Size11,996 SF
Price / SF$325
Days on Market157
Property Features for 2500 N Buffalo Drive Suite 220
General Information
Standard status
Active
Size
11,996 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Listing Agency:
Millennium Commercial Properties LLC
Listed By:
jeff chain · License #B26141
Source:
Crexi
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 3:13PM
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 Millennium Commercial Properties LLC
Investment Insights
Based on property information with market context.
Suite 220 comprises approximately 11,996 square feet of professional office space within the Las Vegas NW Medical District. The existing configuration can support medical, wellness, legal, financial services, and general office uses, while suite layouts may be adjusted or combined for larger space requirements.
The property is positioned in the Northwest/Summerlin area with access to Summerlin Parkway, US-95, and the 215 Beltway. Nearby surroundings include residential communities, retail centers, and medical and professional office users. Building features include maintained shared common areas and parking for employees and visitors.
The property is positioned in the Northwest/Summerlin area with access to Summerlin Parkway, US-95, and the 215 Beltway. Nearby surroundings include residential communities, retail centers, and medical and professional office users. Building features include maintained shared common areas and parking for employees and visitors.
Key Highlights
- Approximately 11,996 SF of professional office space
- Located within the Las Vegas NW Medical District
- Suites may be combined or reconfigured for larger users
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
$184,618
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
4.74%
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%
$3,692,360
$3.7M
Cap Rate 7%
$2,637,400
$2.6M
Cap Rate 9%
$2,051,311
$2.1M
Market Conditions
NOI Build-Up for 11,996 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
$287.9K $24.00/SF
− Vacancy
−$41.7K −$3.48/SF
EGI
$246.2K $20.52/SF
− OpEx
−$61.5K −$5.13/SF
NOI
$184.6K $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%
$3,692,360
Cap Rate 7%
$2,637,400
Cap Rate 9%
$2,051,311
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,618 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$2.27M
$1.99M – $2.65M
NOI $158,923 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$4.15M
$3.63M – $4.84M
NOI $290,159 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 89128, NV
37,882
Population
16,840
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
6.0 sq mi
ZIP Area
6,314
Density / Sq Mi
$70,641
Median Household Income
$41,581
Median Earnings
$1,621
Median Rent
$378,600
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?
Office units - Flexible commercial workspace supports medical, wellness, legal, financial, and general office functions.
Where is this office units located?
The property is located at 2500 N Buffalo Drive Suite 220 Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,898,700.
What are key features of this property?
This property features: Approximately 11,996 SF of professional office space; Located within the Las Vegas NW Medical District; Suites may be combined or reconfigured for larger users
