Freestanding Single-Story Office
For Sale
$2,440,476
2635 Box Canyon Drive, Las Vegas, NV 89128
Single-story commercial space adjoins Mountain View Hospital within a garden-style business park.
Property Size7,750 SF
Price / SF$314.90
Days on Market90
Property Features for 2635 Box Canyon Drive
General Information
Standard status
Active
Size
7,750 SF
Property subtype
Office
Building Details
Buildings
1
Stories
1
Listing Agency:
CBRE | Las Vegas
(702) 369-4924
Listed By:
Linda Gonzales · License #BS. 0049667
(702) 369-4924
Source:
Cbre
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 30 at 2:00PM
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 CBRE | Las Vegas
Investment Insights
Based on property information with market context.
This 7,750-square-foot office building is a freestanding, single-story improvement within a garden-style business park. Its configuration provides a dedicated commercial setting for office operations, with proximity to the healthcare services and activity associated with the adjacent hospital campus.
The property is located at 2635 Box Canyon Drive in Las Vegas, within the Northwest sub-market and the area identified as the medical triangle. Mountain View Hospital is next door and operates as a full-service medical facility with 340 beds under the Sunrise Health System, placing the building near an established healthcare institution.
The property is located at 2635 Box Canyon Drive in Las Vegas, within the Northwest sub-market and the area identified as the medical triangle. Mountain View Hospital is next door and operates as a full-service medical facility with 340 beds under the Sunrise Health System, placing the building near an established healthcare institution.
Key Highlights
- 7750‑square‑foot freestanding office building
- Single‑story commercial configuration
- Located within a garden‑style business park
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
$119,273
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
4.89%
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%
$2,385,460
$2.4M
Cap Rate 7%
$1,703,900
$1.7M
Cap Rate 9%
$1,325,256
$1.3M
Market Conditions
NOI Build-Up for 7,750 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
$186.0K $24.00/SF
− Vacancy
−$27.0K −$3.48/SF
EGI
$159.0K $20.52/SF
− OpEx
−$39.8K −$5.13/SF
NOI
$119.3K $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%
$2,385,460
Cap Rate 7%
$1,703,900
Cap Rate 9%
$1,325,256
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.99M
NOI $119,273 @ 7.0% cap · market cap 4.89%
Second Best
Healthcare Medical
$1.47M
$1.28M – $1.71M
NOI $102,672 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$2.68M
$2.34M – $3.12M
NOI $187,457 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,381
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Single-story commercial space adjoins Mountain View Hospital within a garden-style business park.
Where is this office building located?
The property is located at 2635 Box Canyon Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,440,476.
What are key features of this property?
This property features: 7750‑square‑foot freestanding office building; Single‑story commercial configuration; Located within a garden‑style business park
