Downtown Triplex
For Sale
$777,000
320 North 10th Street, Las Vegas, NV 89101
1953-built triplex in downtown Las Vegas with unit C on a month-to-month lease; tenants onsite—do not disturb.
Property Size2,016 SF
Days on Market116
Property Features for 320 North 10th Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$2,205
Building Details
Building Size
2,016 SF
Year Built
1953
Listing Agency:
General Realty Group Inc
(702) 592-4907
Listed By:
Ryan D. Hogge · License #S.0044791
(702) 592-4907
Source:
Vicerealtygroup
Added: Apr 16
Changed: Aug 8
Last Checked: Aug 8 at 9:13AM
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 General Realty Group Inc
Investment Insights
Based on property information with market context.
This downtown Las Vegas triplex at 320 North 10th Street offers a flexible multi-unit setup and includes a unit that is on a month-to-month lease. The property was built in 1953.
Unit C is described as month to month, and tenants are currently onsite. Please do not disturb tenants when touring or evaluating the property.
For buyers or operators looking for a small, manageable multi-family asset in central Las Vegas, this configuration provides a straightforward structure across the three units, with at least one unit’s lease terms identified as month to month.
Unit C is described as month to month, and tenants are currently onsite. Please do not disturb tenants when touring or evaluating the property.
For buyers or operators looking for a small, manageable multi-family asset in central Las Vegas, this configuration provides a straightforward structure across the three units, with at least one unit’s lease terms identified as month to month.
Key Highlights
- Triplex multi‑unit property at 320 North 10th Street
- Built in 1953
- Downtown Las Vegas location
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
$23,204
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
2.99%
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%
$464,080
$464.1K
Cap Rate 7%
$331,486
$331.5K
Cap Rate 9%
$257,822
$257.8K
Market Conditions
NOI Build-Up for 2,016 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
$35.1K $17.40/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$33.1K $16.44/SF
− OpEx
−$9.9K −$4.93/SF
NOI
$23.2K $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%
$464,080
Cap Rate 7%
$331,486
Cap Rate 9%
$257,822
Alternative Uses
Best Use
Multifamily LT 5
$331.5K
$290.1K – $386.7K
NOI $23,204 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$306.3K
$268.0K – $357.4K
NOI $21,443 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$696.6K
$609.5K – $812.7K
NOI $48,763 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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?
Triplex - 1953-built triplex in downtown Las Vegas with unit C on a month-to-month lease; tenants onsite—do not disturb.
Where is this triplex located?
The property is located at 320 North 10th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $777,000.
What are key features of this property?
This property features: Triplex multi‑unit property at 320 North 10th Street; Built in 1953; Downtown Las Vegas location
