Freestanding Remodeled Office
3036 E Russell Rd, Las Vegas, NV 89120
For Sale
$1,000,000
Remodeled freestanding office property with gated, covered parking in an established Las Vegas business setting.
Property Size4,094 SF
Lot Size0.47 Acres
Price / SF$244.26
Days on Market94
Property Features for 3036 E Russell Rd
General Information
Standard status
Size
Class
Lot size
Property subtype
Additional Details
Asking Price
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
SVN | The Equity Group
Listed By:
Amelia Henry, CCIM · License #NV #BS.144825
(702) 824-1614
Source:
Svn
Added: Aug 8
Changed: Oct 25
Last Checked: Nov 8 at 3:41AM
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 SVN | The Equity Group
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Investment Insights
Based on property information with market context.
This freestanding office property contains 4,094 square feet on an approximately 0.47-acre site at 3036 E Russell Rd in Las Vegas. Constructed in 1972 and remodeled in 2000, the building offers an established commercial setting for professional or business operations. Private gated, covered parking is included on the property.
The office is situated in the Las Vegas market, with Harry Reid Airport and the Las Vegas Strip located minutes away. Its standalone configuration, updated improvements, and dedicated parking provide a practical office setting at a central Las Vegas address.
The office is situated in the Las Vegas market, with Harry Reid Airport and the Las Vegas Strip located minutes away. Its standalone configuration, updated improvements, and dedicated parking provide a practical office setting at a central Las Vegas address.
Key Highlights
- 4,094‑square‑foot freestanding office building
- Approximately 0.47‑acre site
- Remodeled in 2000 after original construction in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,007
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,140
$1.3M
Cap Rate 7%
$900,100
$900.1K
Cap Rate 9%
$700,078
$700.1K
Market Conditions
NOI Build-Up for 4,094 SF
Gross rent
$98.3K $24.00/SF
− Vacancy
−$14.2K −$3.48/SF
EGI
$84.0K $20.52/SF
− OpEx
−$21.0K −$5.13/SF
NOI
$63.0K $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 Rate 5%
$1,260,140
Cap Rate 7%
$900,100
Cap Rate 9%
$700,078
Alternative Uses
Best Use
Office B
$900.1K
$787.6K – $1.05M
NOI $63,007 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $99,025 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
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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
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Market
Properties on Market for Office buildings in Las Vegas
Vacancy Rate% for Office in Las Vegas, NV
Frequently Asked Questions
What type of property is this?
Office building - Remodeled freestanding office property with gated, covered parking in an established Las Vegas business setting.
Where is this office building located?
The property is located at 3036 E Russell Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 4,094‑square‑foot freestanding office building; Approximately 0.47‑acre site; Remodeled in 2000 after original construction in 1972
