East Las Vegas Medical
For Sale
$7,800,000
3059 & 3061 Maryland Pkwy, Las Vegas, NV 89101
Two-building medical campus in the East Las Vegas medical District.
Property Size48,903 SF
Price / SF$159.50
Days on Market112
Property Features for 3059 & 3061 Maryland Pkwy
General Information
Standard status
Active
Size
48,903 SF
Class
C
Property subtype
Office
Building Details
Building Size
48,903 SF
Year Built
2003
Listing Agency:
MDL Group
Listed By:
Michael Greene, CCIM · License #NV #S.0186326
(917) 414-9558
Source:
Corfac
Added: May 16
Changed: Sep 4
Last Checked: Aug 29 at 1:56AM
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 MDL Group
Investment Insights
Based on property information with market context.
The Maryland Medical Center, located at 3059 & 3061 S. Maryland Parkway, is situated in the East Las Vegas medical District. This professional campus consists of two 2-story buildings totaling approximately 48,903 square feet. Constructed in 2003, the second-generation professional/medical office spaces feature 9-foot ceilings. The property has frontage directly across from Sunrise Hospital Medical Center. Located between the Las Vegas Country Club and the city, it is minutes from The Strip and Downtown. There are 51 surface parking spaces, as well as covered parking options.
Key Highlights
- Premier location in the East Las Vegas Medical District, directly across from Sunrise Hospital Medical Center.
- Value‑add opportunity with two 2‑story buildings totaling ±48,903 square feet.
- Second‑generation professional/medical office spaces feature 9’ ceilings.
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
$647,867
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
8.31%
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%
$12,957,340
$13.0M
Cap Rate 7%
$9,255,243
$9.3M
Cap Rate 9%
$7,198,522
$7.2M
Market Conditions
NOI Build-Up for 48,903 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
$1.17M $24.00/SF
− Vacancy
−$93.9K −$1.92/SF
EGI
$1.08M $22.08/SF
− OpEx
−$431.9K −$8.83/SF
NOI
$647.9K $13.25/SF
Area
Las Vegas, NV
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$12,957,340
Cap Rate 7%
$9,255,243
Cap Rate 9%
$7,198,522
Alternative Uses
Best Use
Office B
$10.75M
$9.41M – $12.54M
NOI $752,617 @ 7.0% cap · market cap 9.65%
Second Best
Healthcare Medical
$9.26M
$8.10M – $10.80M
NOI $647,867 @ 7.0% cap · market cap 8.31%
Theoretical Best
Specialty Retail
$16.90M
$14.79M – $19.71M
NOI $1,182,863 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,391
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Zulu's Vet Pros — 3507 S Maryland Pkwy, Las Vegas, NV 89169
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-building medical campus in the East Las Vegas medical District.
Where is this medical office space located?
The property is located at 3059 & 3061 Maryland Pkwy Las Vegas, NV.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Premier location in the East Las Vegas Medical District, directly across from Sunrise Hospital Medical Center.; Value‑add opportunity with two 2‑story buildings totaling ±48,903 square feet.; Second‑generation professional/medical office spaces feature 9’ ceilings.
