Medical Suite in Siena Office
For Sale
$1,626,000
2904 West Horizon Ridge Parkway, Henderson, NV 89052
First-floor medical suite near St. Rose Dominican Hospital.
Property Size4,222 SF
Lot Size3.25 Acres
Price / SF$385.13
Days on Market148
Property Features for 2904 West Horizon Ridge Parkway
General Information
Standard status
Active
Size
4,222 SF
Lot size
3.25 Acres
Property subtype
Office
Listing Agency:
CBRE | Las Vegas
(702) 369-4924
Listed By:
Linda Gonzales · License #BS. 0049667
(702) 369-4924
Source:
Cbre
Added: Mar 25
Changed: Aug 9
Last Checked: Aug 19 at 5:29AM
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.
Located in the Willow Creek Siena Office Park, this first-floor medical suite offers approximately 4,222 square feet. The layout includes twelve medical exam and private offices, a break-room, one private restroom, a large reception area, and a back office. The property provides monument signage and ample parking, including six covered parking spaces. Situated near the Siena Campus of St. Rose Dominican Hospital, a 230-bed full-service hospital managed by Dignity Health, it also benefits from proximity to the Master Plan Community of Green Valley Ranch, Anthem, Seven Hills, Inspirada, and Silverado Ranch. The location offers convenient access to surrounding retail amenities, dining, and shopping, as well as the 215-Beltway via St. Rose Parkway. It is also located minutes from the I-15 freeway, the Las Vegas Strip, Harry Reid International Airport, and the Henderson Executive Airport. Built in 2004, the property is zoned CO and has a parking ratio of 4.82/1000. The parcel number is 177-25-411-018, and the land area is 3.25 acres. The property is part of an office campus setting and has multiple entrances.
Key Highlights
- Located next to the Siena Campus of St. Rose Dominican Hospital (Dignity Health)
- First floor medical suite featuring 4,222 square feet with 12 exam/private offices
- Ample parking with covered spaces (6 covered spaces, 4.82/1000 ratio)
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
$62,697
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
3.86%
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%
$1,253,940
$1.3M
Cap Rate 7%
$895,671
$895.7K
Cap Rate 9%
$696,633
$696.6K
Market Conditions
NOI Build-Up for 4,222 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
$101.3K $24.00/SF
− Vacancy
−$17.7K −$4.20/SF
EGI
$83.6K $19.80/SF
− OpEx
−$20.9K −$4.95/SF
NOI
$62.7K $14.85/SF
Area
ZIP 89052
Vacancy
17.50%
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%
$1,253,940
Cap Rate 7%
$895,671
Cap Rate 9%
$696,633
Alternative Uses
Best Use
Office B
$895.7K
$783.7K – $1.04M
NOI $62,697 @ 7.0% cap · market cap 3.86%
Second Best
Healthcare Medical
$802.5K
$702.2K – $936.3K
NOI $56,176 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.73M
NOI $103,529 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,977
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89052, NV
59,987
Population
26,456
Households
2.3
Avg Household Size
46
Median Age
47%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
3,680
Density / Sq Mi
$98,462
Median Household Income
$57,772
Median Earnings
$1,938
Median Rent
$595,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor medical suite near St. Rose Dominican Hospital.
Where is this medical office space located?
The property is located at 2904 West Horizon Ridge Parkway Henderson, NV.
What is the asking price?
The asking price for this property is $1,626,000.
What are key features of this property?
This property features: Located next to the Siena Campus of St. Rose Dominican Hospital (Dignity Health); First floor medical suite featuring 4,222 square feet with 12 exam/private offices; Ample parking with covered spaces (6 covered spaces, 4.82/1000 ratio)
