East Las Vegas Medical
For Sale
Contact for pricing
3059 S Maryland Parkway, Las Vegas, NV 89109
Two-building medical campus in the East Las Vegas medical District.
Property Size48,903 SF
Price / SF$159.50
Days on Market103
Property Features for 3059 S Maryland Parkway
General Information
Standard status
Active
Size
48,903 SF
Total Parking Spaces
225
Property subtype
Office
Zoning
General Commercial (C-2)
Occupancy
67%
Investment Type
Value Add
Building Details
Year Built
2003
Buildings
2
Stories
2
Units
225
Tenancy
Multi
Listing Agency:
MDL Group
(702) 388-1800
Listed By:
Hayim Mizrachi, SIOR, CCIM · License #NV 143643
Source:
Crexi
Added: May 15
Changed: Aug 17
Last Checked: Aug 22 at 2:54PM
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 89109, NV
7,728
Population
12,053
Households
0.6
Avg Household Size
47
Median Age
38%
College-Educated
92%
High-School Grad
4.1 sq mi
ZIP Area
1,885
Density / Sq Mi
$54,917
Median Household Income
$55,296
Median Earnings
$1,208
Median Rent
$494,800
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?
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 S Maryland Parkway 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.
