Las Vegas Multi-Tenant Commercial
For Sale
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2578 Belcastro St, Las Vegas, NV 89117
Well-maintained office/flex building near the Las Vegas Strip.
Property Size8,535 SF
Price / SF$310.49
Days on Market508
Property Features for 2578 Belcastro St
General Information
Standard status
Active
Size
8,535 SF
Class
B
Property subtype
Office
Zoning
Commercial Professional (CP)
Occupancy
100%
Lease Type
Gross
Net Operating Income
$163,872
Building Details
Year Built
1999
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Las Vegas
(702) 853-2444
Listed By:
David Houle · License #DRE# 02240880
Source:
Crexi
Added: Apr 5, 2025
Changed: Aug 25
Last Checked: Aug 24 at 3:07PM
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 Realty Las Vegas
Investment Insights
Based on property information with market context.
The property at 2578 Belcastro St is a well-maintained, multi-tenant commercial building. Located minutes from the Las Vegas Strip, this office/flex building features established tenants, ample parking, and street visibility. The property is situated in a commercial corridor with access to I-15 and US-95. The building features clean architecture and updated finishes. The property contains 8,535 square feet.
Key Highlights
- Prime Location: Minutes from the Las Vegas Strip.
- Strong Investment: Well‑maintained commercial property with established tenants.
- High Visibility: Excellent street visibility.
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
$131,354
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
4.96%
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%
$2,627,080
$2.6M
Cap Rate 7%
$1,876,486
$1.9M
Cap Rate 9%
$1,459,489
$1.5M
Market Conditions
NOI Build-Up for 8,535 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
$204.8K $24.00/SF
− Vacancy
−$29.7K −$3.48/SF
EGI
$175.1K $20.52/SF
− OpEx
−$43.8K −$5.13/SF
NOI
$131.4K $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%
$2,627,080
Cap Rate 7%
$1,876,486
Cap Rate 9%
$1,459,489
Alternative Uses
Best Use
Office B
$1.88M
$1.64M – $2.19M
NOI $131,354 @ 7.0% cap · market cap 4.96%
Second Best
Industrial
$724.3K
$633.8K – $845.0K
NOI $50,702 @ 7.0% cap · market cap 1.91%
Theoretical Best
Specialty Retail
$2.95M
$2.58M – $3.44M
NOI $206,444 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,811
Businesses Nearby
Explore this area
Business Placement
Demographics for 89117, NV
57,497
Population
25,494
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
9.2 sq mi
ZIP Area
6,250
Density / Sq Mi
$71,497
Median Household Income
$40,187
Median Earnings
$1,691
Median Rent
$481,900
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 building - Well-maintained office/flex building near the Las Vegas Strip.
Where is this office building located?
The property is located at 2578 Belcastro St Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Prime Location: Minutes from the Las Vegas Strip.; Strong Investment: Well‑maintained commercial property with established tenants.; High Visibility: Excellent street visibility.
