Las Vegas Estate with
For Sale
Contact for pricing
2880 E Quail Ave, Las Vegas, NV 89120
Custom 9-bedroom estate near the airport, ideal for income.
Property Size4,348 SF
Lot Size0.50 Acres
Price / SF$275.99
Days on Market173
Property Features for 2880 E Quail Ave
General Information
Standard status
Active
Size
4,348 SF
Lot size
0.50 Acres
Property subtype
Mixed Use, Multifamily
Zoning
Residential
Building Details
Year Built
1973
Stories
2
Listing Agency:
NV Broker & Associates, LLC
(702) 748-2377
Listed By:
Marissa Anderson · License #NV 145181
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 29 at 2:59AM
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 NV Broker & Associates, LLC
Investment Insights
Based on property information with market context.
This custom Las Vegas estate, situated on over half an acre without HOA restrictions, is currently operating as a pilot crash pad with month-to-month leasing. The property features 9 bedrooms and 5.5 bathrooms, offering flexibility as a private residence or income property. The home includes an open floor plan with light-filled living areas, plantation shutters, and a versatile great room suitable for use as a game or media room. The entire second floor is dedicated to a private owner’s suite, complete with a spa-like bath and private balcony. Stackable sliding doors open to a backyard designed for entertaining, featuring a pool, covered patio, built-in BBQ with refrigerator, an outdoor island/breakfast bar, and a putting green. A separate guest house provides additional space for visitors or tenants. Parking includes a 4-car carport, 2-car garage, and RV gate with parking. The property offers resort-style living and is located minutes from Harry Reid International Airport. The property size is 4348 square feet.
Key Highlights
- Large lot (over half an acre) with no HOA offering unparalleled privacy.
- 9‑bedroom, 5½‑bath home with a separate guest house, providing flexibility for living and/or rental income.
- Resort‑style backyard with pool, covered patio, built‑in BBQ, outdoor island/breakfast bar, and putting green.
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
$46,248
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
3.85%
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%
$924,960
$925.0K
Cap Rate 7%
$660,686
$660.7K
Cap Rate 9%
$513,867
$513.9K
Market Conditions
NOI Build-Up for 4,348 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
$88.7K $20.40/SF
− Vacancy
−$4.6K −$1.06/SF
EGI
$84.1K $19.34/SF
− OpEx
−$37.8K −$8.70/SF
NOI
$46.2K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$924,960
Cap Rate 7%
$660,686
Cap Rate 9%
$513,867
Alternative Uses
Best Use
Apartment 5plus
$660.7K
$578.1K – $770.8K
NOI $46,248 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,169 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 89120, NV
24,813
Population
9,861
Households
2.5
Avg Household Size
40
Median Age
26%
College-Educated
88%
High-School Grad
7.1 sq mi
ZIP Area
3,495
Density / Sq Mi
$75,813
Median Household Income
$38,774
Median Earnings
$1,467
Median Rent
$364,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Custom 9-bedroom estate near the airport, ideal for income.
Where is this multifamily property located?
The property is located at 2880 E Quail Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Large lot (over half an acre) with no HOA offering unparalleled privacy.; 9‑bedroom, 5½‑bath home with a separate guest house, providing flexibility for living and/or rental income.; Resort‑style backyard with pool, covered patio, built‑in BBQ, outdoor island/breakfast bar, and putting green.
