Professional Office Space in Las
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2500 N Buffalo Drive Suite 285, Las Vegas, NV 89128
Professional office space in the Las Vegas NW Medical District.
Property Size3,111 SF
Price / SF$325
Days on Market175
Property Features for 2500 N Buffalo Drive Suite 285
General Information
Standard status
Active
Size
3,111 SF
Property subtype
Office
Listing Agency:
Millennium Commercial Properties LLC
Listed By:
jeff chain · License #B26141
Source:
Crexi
Added: Mar 6
Changed: Aug 16
Last Checked: Aug 26 at 10:43AM
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 285 provides approximately 3,111 square feet of professional office space. It is situated within The Las Vegas NW Medical District, specifically in the Northwest/Summerlin area. The suite features a functional office layout suitable for various professional uses, including medical, wellness, legal, financial services, and general office purposes. Multiple suite sizes are available within the building, and suites can be combined or reconfigured to accommodate larger users or specific layout requirements. The property benefits from convenient access to Summerlin Parkway, US-95, and the 215 Beltway, facilitating connectivity throughout the Las Vegas Valley. The surrounding area comprises a mix of residential neighborhoods, retail centers, and professional office users. The building is professionally maintained and offers shared common area amenities. Ample parking is available for both employees and visitors.
Key Highlights
- Functional office layout ideal for medical, wellness, legal, financial services, and general office use.
- Located in The Las Vegas NW Medical District in the Northwest/Summerlin area.
- Convenient access to Summerlin Parkway, US‑95, and the 215 Beltway.
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
$47,878
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%
$957,560
$957.6K
Cap Rate 7%
$683,971
$684.0K
Cap Rate 9%
$531,978
$532.0K
Market Conditions
NOI Build-Up for 3,111 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
$74.7K $24.00/SF
− Vacancy
−$10.8K −$3.48/SF
EGI
$63.8K $20.52/SF
− OpEx
−$16.0K −$5.13/SF
NOI
$47.9K $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%
$957,560
Cap Rate 7%
$683,971
Cap Rate 9%
$531,978
Alternative Uses
Best Use
Office B
$684.0K
$598.5K – $798.0K
NOI $47,878 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$588.8K
$515.2K – $686.9K
NOI $41,215 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$1.07M
$940.6K – $1.25M
NOI $75,249 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Professional office space in the Las Vegas NW Medical District.
Where is this office units located?
The property is located at 2500 N Buffalo Drive Suite 285 Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,011,075.
What are key features of this property?
This property features: Functional office layout ideal for medical, wellness, legal, financial services, and general office use.; Located in The Las Vegas NW Medical District in the Northwest/Summerlin area.; Convenient access to Summerlin Parkway, US‑95, and the 215 Beltway.
