Fully Rented
For Sale
$270,000
Pending
309 N 8th Street, Las Vegas, NV 89101
Residential, Las Vegas, NV
Property Size1,686 SF
Lot Size0.16 Acres
Days on Market38
Property Features for 309 N 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Oven, Range, Refrigerator
Subdivision
Bucks Sub
Elementary school
,
Directions
Downtown Las Vegas. From interstate i11 and Las Vegas Blvd South to Stewart Avenue. Proceed East on Stewart to 8th Street. Turn left (North) on 8th Street, property is on the right.
Standard status
Pending
APN
139-34-512-084
Size
1,686 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1312
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet
Building materials
Stucco, Wood Frame
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Western Realty
(725) 204-1177
Listed By:
Brian Knaff · License #BS.1000586
(702) 595-5416
Added: Jul 23
Changed: Aug 19
Last Checked: Aug 29 at 12:06AM
MLS# 2803585
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1937, this duplex contains 1,686 square feet on a 0.16-acre lot at 309 N 8th Street. The property is fully rented and includes stucco and wood-frame construction, composition and shingle roofing, tile and carpet flooring, electric heat, and a kitchen package with an oven, range, and refrigerator. Building maintenance is needed.
The property is situated in the East Fremont District of Las Vegas near Stewart Avenue. Public water and public sewer serve the property, providing established utility connections for the existing residential use.
The property is situated in the East Fremont District of Las Vegas near Stewart Avenue. Public water and public sewer serve the property, providing established utility connections for the existing residential use.
Key Highlights
- Fully rented duplex at 309 N 8th Street
- 1,686‑square‑foot building on a 0.16‑acre lot
- Built in 1937; maintenance is needed
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
$19,406
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
7.19%
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%
$388,120
$388.1K
Cap Rate 7%
$277,229
$277.2K
Cap Rate 9%
$215,622
$215.6K
Market Conditions
NOI Build-Up for 1,686 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
$29.3K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$27.7K $16.44/SF
− OpEx
−$8.3K −$4.93/SF
NOI
$19.4K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$388,120
Cap Rate 7%
$277,229
Cap Rate 9%
$215,622
Alternative Uses
Best Use
Multifamily LT 5
$277.2K
$242.6K – $323.4K
NOI $19,406 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$256.2K
$224.2K – $298.9K
NOI $17,933 @ 7.0% cap · market cap 6.64%
Theoretical Best
Specialty Retail
$582.6K
$509.8K – $679.7K
NOI $40,781 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,712
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with public water and sewer service in central Las Vegas.
Where is this duplex located?
The property is located at 309 N 8th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Fully rented duplex at 309 N 8th Street; 1,686‑square‑foot building on a 0.16‑acre lot; Built in 1937; maintenance is needed
