Professional Medical Office
For Sale
Contact for pricing
2500 N Buffalo Drive Suite 105, Las Vegas, NV 89128
Suite 105 offers professional office space with a functional layout in the Las Vegas NW Medical District.
Property Size9,271 SF
Price / SF$325
Days on Market130
Property Features for 2500 N Buffalo Drive Suite 105
General Information
Standard status
Active
Size
9,271 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Millennium Commercial Properties LLC
Listed By:
jeff chain · License #B26141
Source:
Crexi
Added: Mar 30
Changed: Jul 21
Last Checked: Aug 5 at 8:41AM
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 105 provides approximately 9,271 SF of professional office space within The Las Vegas NW Medical District in the Northwest/Summerlin area. The suite is laid out to support a range of professional uses, and additional suite sizes are available within the building; suites may be combined or reconfigured for larger requirements or specific layout needs. The building is professionally maintained and includes shared common area amenities, along with ample parking for employees and visitors.
Convenient access is provided to Summerlin Parkway, US-95, and the 215 Beltway, supporting travel throughout the Las Vegas Valley. The surrounding area features a mix of residential neighborhoods, retail centers, and medical/professional office users.
For sale, this suite is a straightforward option for organizations seeking dedicated, professionally maintained office space within a medical district setting.
Convenient access is provided to Summerlin Parkway, US-95, and the 215 Beltway, supporting travel throughout the Las Vegas Valley. The surrounding area features a mix of residential neighborhoods, retail centers, and medical/professional office users.
For sale, this suite is a straightforward option for organizations seeking dedicated, professionally maintained office space within a medical district setting.
Key Highlights
- Suite 105 provides approximately 9,271 SF of professional office space in The Las Vegas NW Medical District.
- Functional suite layout suitable for medical, wellness, legal, financial services, and general office uses.
- Suite sizes in the building can be combined or reconfigured for larger users or specific layout needs.
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
$142,681
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%
$2,853,620
$2.9M
Cap Rate 7%
$2,038,300
$2.0M
Cap Rate 9%
$1,585,344
$1.6M
Market Conditions
NOI Build-Up for 9,271 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
$222.5K $24.00/SF
− Vacancy
−$32.3K −$3.48/SF
EGI
$190.2K $20.52/SF
− OpEx
−$47.6K −$5.13/SF
NOI
$142.7K $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%
$2,853,620
Cap Rate 7%
$2,038,300
Cap Rate 9%
$1,585,344
Alternative Uses
Best Use
Office B
$2.04M
$1.78M – $2.38M
NOI $142,681 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$1.75M
$1.54M – $2.05M
NOI $122,822 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$3.20M
$2.80M – $3.74M
NOI $224,246 @ 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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Suite 105 offers professional office space with a functional layout in the Las Vegas NW Medical District.
Where is this medical office space located?
The property is located at 2500 N Buffalo Drive Suite 105 Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,013,075.
What are key features of this property?
This property features: Suite 105 provides approximately 9,271 SF of professional office space in The Las Vegas NW Medical District.; Functional suite layout suitable for medical, wellness, legal, financial services, and general office uses.; Suite sizes in the building can be combined or reconfigured for larger users or specific layout needs.
