Office/Warehouse Flex Condo with Roll-Up
For Sale
Contact for pricing
Pending
3068 E Sunset Rd, Las Vegas, NV 89120
A furnished office-and-warehouse flex condo with a grade-level roll-up door and approximately 18-foot+ clear ceilings in an airport submarket.
Property Size1,747 SF
Days on Market99
Property Features for 3068 E Sunset Rd
General Information
Standard status
Pending
Size
1,747 SF
Total Parking Spaces
105
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Sprinkler System
Yes
Conditioned Warehouse
Yes
Amenities
Security camera system
Kitchen/break room
Bathroom with shower
Building Details
Buildings
1
Listing Agency:
Lindsey Butler Real Estate
(702) 823-3600
Listed By:
Lindsey Butler · License #175279.LLC
(702) 883-4393
Source:
Moodyscre
Added: Jun 10
Changed: Aug 8
Last Checked: Sep 15 at 9:51AM
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 Lindsey Butler Real Estate
Investment Insights
Based on property information with market context.
This office/warehouse flex condo is located within the Insight Aircenter building and offers a finished office area paired with warehouse space. The layout includes two private offices, an open office/copy area, and a reception/lobby with a glass storefront entry, plus a kitchen/break room and two bathrooms, including one with a full shower. The warehouse side features skylights and exposed steel trusses with approximately 18-foot+ clear ceilings, along with a grade-level roll-up door. Fire sprinklers are installed in both the office and warehouse areas.
Interior upgrades include upgraded tile flooring, interior glass windows between offices, and black trim and baseboards. The space also includes a security camera system.
The condo is situated on Sunset Road, a high-traffic corridor with up to 35,500 vehicles per day, providing seamless access to I-15, I-215, and I-515. The building includes 105+ shared parking spaces with covered areas at both ends.
This configuration is well suited for light manufacturing, distribution, contractor operations, e-commerce fulfillment, or professional services requiring on-site office space and warehouse functionality.
Interior upgrades include upgraded tile flooring, interior glass windows between offices, and black trim and baseboards. The space also includes a security camera system.
The condo is situated on Sunset Road, a high-traffic corridor with up to 35,500 vehicles per day, providing seamless access to I-15, I-215, and I-515. The building includes 105+ shared parking spaces with covered areas at both ends.
This configuration is well suited for light manufacturing, distribution, contractor operations, e-commerce fulfillment, or professional services requiring on-site office space and warehouse functionality.
Key Highlights
- Insight Aircenter building office/warehouse flex condo with 100% HVAC
- Approximately 18‑foot+ clear ceilings with exposed steel trusses and skylights
- Grade‑level roll‑up door plus fire sprinklers in office and warehouse areas
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
$26,886
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
4.68%
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%
$537,720
$537.7K
Cap Rate 7%
$384,086
$384.1K
Cap Rate 9%
$298,733
$298.7K
Market Conditions
NOI Build-Up for 1,747 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
$41.9K $24.00/SF
− Vacancy
−$6.1K −$3.48/SF
EGI
$35.8K $20.52/SF
− OpEx
−$9.0K −$5.13/SF
NOI
$26.9K $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%
$537,720
Cap Rate 7%
$384,086
Cap Rate 9%
$298,733
Alternative Uses
Best Use
Office B
$384.1K
$336.1K – $448.1K
NOI $26,886 @ 7.0% cap · market cap 4.68%
Second Best
Warehouse
$180.0K
$157.5K – $210.0K
NOI $12,602 @ 7.0% cap · market cap 2.19%
Theoretical Best
Specialty Retail
$603.7K
$528.2K – $704.3K
NOI $42,256 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,516
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Las Vegas, NV
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Frequently Asked Questions
What type of property is this?
Flex space - A furnished office-and-warehouse flex condo with a grade-level roll-up door and approximately 18-foot+ clear ceilings in an airport submarket.
Where is this flex space located?
The property is located at 3068 E Sunset Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Insight Aircenter building office/warehouse flex condo with 100% HVAC; Approximately 18‑foot+ clear ceilings with exposed steel trusses and skylights; Grade‑level roll‑up door plus fire sprinklers in office and warehouse areas
