Freestanding Remodeled Office
New
For Sale
$1,000,000
3036 E Russell Rd, Las Vegas, NV 89120
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 Market3
Property Features for 3036 E Russell Rd
General Information
Standard status
Active
Size
4,094 SF
Class
B
Lot size
0.47 Acres
Property subtype
Office
Additional Details
Asking Price
$1,000,000
Building Details
Building Size
4,094 SF
Year Built
1972
Year Renovated
2000
Buildings
1
Listing Agency:
SVN | The Equity Group
(702) 824-1614
Listed By:
Amelia Henry, CCIM · License #NV #BS.144825
(702) 824-1614
Source:
Svn-theequitygroup
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 3:26PM
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
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 = 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
$63,007
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
6.30%
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%
$1,260,140
$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
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
$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 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%
$1,260,140
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,534
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 Office in Las Vegas, NV
Questions? Ask Rey
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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
