Warehouse with Two-Story
New
For Sale
$3,570,000
2965 Coleman Street, North Las Vegas, NV 89032
M-1-zoned industrial space combines warehouse capacity with private offices, reception, and a mezzanine.
Property Size13,468 SF
Lot Size0.88 Acres
Price / SF$265.07
Days on Market2
Property Features for 2965 Coleman Street
General Information
Standard status
Active
Size
13,468 SF
Lot size
0.88 Acres
Property subtype
Industrial
Zoning
M-1
Warehouse & Industrial
Clear Height
24 ft
Warehouse Space
11,132 SF
Office Build-Out
2,336 SF
Dock-High Doors
3
Drive-In Doors
2
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Asking Price
$3,570,000
Building Details
Buildings
1
Building Size
13,468 SF
Listed By:
Lauren Willmore, Member Associate, Society of Industrial and Office Realtors · License #S.0188698
(702) 369-4825
Source:
Cbre
Added: Sep 26
Last Checked: Sep 26 at 3:28PM
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 Lauren Willmore, Member Associate, Society of Industrial and Office Realtors
Investment Insights
Based on property information with market context.
The 13,468 SF industrial property sits on 0.88 acres and includes 11,132 SF of warehouse space alongside a 2,336 SF, two-story office. The office area has three private offices, reception, two single-stall restrooms, and a utility closet; a mezzanine adds another functional component. Warehouse features include 24-foot clear height, ESFR fire sprinklers, and 3-phase power. Loading is supported by three dock-high doors and two grade-level doors.
Zoned M-1 (Business Park Industrial), the property is located at 2965 Coleman Street in North Las Vegas. The offering is fee-simple.
Zoned M-1 (Business Park Industrial), the property is located at 2965 Coleman Street in North Las Vegas. The offering is fee-simple.
Key Highlights
- 13,468 SF industrial building on 0.88 acres
- 11,132 SF warehouse and 2,336 SF two‑story office
- Three dock‑high doors and two grade‑level doors
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
$119,281
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
3.34%
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%
$2,385,620
$2.4M
Cap Rate 7%
$1,704,014
$1.7M
Cap Rate 9%
$1,325,344
$1.3M
Market Conditions
NOI Build-Up for 13,468 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
$153.5K $11.40/SF
− Vacancy
−$13.2K −$0.98/SF
EGI
$140.3K $10.42/SF
− OpEx
−$21.0K −$1.56/SF
NOI
$119.3K $8.86/SF
Area
North Las Vegas, NV
Vacancy
8.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
15.00%
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%
$2,385,620
Cap Rate 7%
$1,704,014
Cap Rate 9%
$1,325,344
Alternative Uses
Best Use
Warehouse
$1.70M
$1.49M – $1.99M
NOI $119,281 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,127 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
24 ft
Clear height
3
Dock-high doors
2
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89032, NV
47,324
Population
16,514
Households
2.9
Avg Household Size
36
Median Age
16%
College-Educated
82%
High-School Grad
10.0 sq mi
ZIP Area
4,732
Density / Sq Mi
$74,661
Median Household Income
$40,155
Median Earnings
$1,646
Median Rent
$346,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - M-1-zoned industrial space combines warehouse capacity with private offices, reception, and a mezzanine.
Where is this warehouse located?
The property is located at 2965 Coleman Street North Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,570,000.
What are key features of this property?
This property features: 13,468 SF industrial building on 0.88 acres; 11,132 SF warehouse and 2,336 SF two‑story office; Three dock‑high doors and two grade‑level doors
