Vacant Building in Cheyenne
For Sale
Contact for pricing
3280 N Cimarron Rd, Las Vegas, NV 89129
Vacant building in mixed-use campus near medical facilities.
Property Size36,200 SF
Price / SF$249.99
Days on Market771
Property Features for 3280 N Cimarron Rd
General Information
Standard status
Active
Size
36,200 SF
Property subtype
Office
Building Details
Year Built
2000
Listing Agency:
Cushman & Wakefield - Las Vegas, Nevada
(702) 605-1549
Listed By:
Marlene Fujita · License #S.0054013
Source:
Crexi
Added: Jun 27, 2024
Changed: Jul 6
Last Checked: Aug 4 at 2:13PM
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 Cushman & Wakefield - Las Vegas, Nevada
Investment Insights
Based on property information with market context.
Located within Cheyenne Corporate Center, the vacant building at 3280 N. Cimarron Road (Building Four) is available for acquisition. Building Four is part of a mixed-use campus comprising nine buildings with office, medical office, and retail tenants. The entire campus encompasses approximately 321,245 square feet across nine parcels and is managed by a commercial association responsible for the common areas, which reduces management responsibilities for individual building owners. Other occupants within the center include the State of Nevada Physical Therapy Board, SimonMed, Davita, TPx/MPower Communications, and Dennett Winspear Attorneys at Law. Cheyenne Corporate Center has historically attracted medical tenants due to its proximity to medical facilities, including the approximately 425-bed Mountainview Hospital (Sunrise Health System), the Optum (United HealthGroup) multi-building campus, and the recently opened UNLV Health clinic. The property offers convenient access to US 95 (one mile East) and I-215 (3.5 miles West), providing a central location for the North, Northwest, and West trade areas. The building has a size of 36,200 square feet.
Key Highlights
- Located within Cheyenne Corporate Center, a well‑established mixed‑use campus.
- Proximity to Mountainview Hospital, Optum, and UNLV Health clinic, attracting medical tenants.
- Minimal management required due to commercial association.
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
$557,118
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
6.16%
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%
$11,142,360
$11.1M
Cap Rate 7%
$7,958,829
$8.0M
Cap Rate 9%
$6,190,200
$6.2M
Market Conditions
NOI Build-Up for 36,200 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
$868.8K $24.00/SF
− Vacancy
−$126.0K −$3.48/SF
EGI
$742.8K $20.52/SF
− OpEx
−$185.7K −$5.13/SF
NOI
$557.1K $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%
$11,142,360
Cap Rate 7%
$7,958,829
Cap Rate 9%
$6,190,200
Alternative Uses
Best Use
Office B
$7.96M
$6.96M – $9.29M
NOI $557,118 @ 7.0% cap · market cap 6.16%
Second Best
Healthcare Medical
$6.85M
$5.99M – $7.99M
NOI $479,578 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$12.51M
$10.95M – $14.59M
NOI $875,604 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 89129, NV
54,067
Population
21,941
Households
2.5
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
5,407
Density / Sq Mi
$87,544
Median Household Income
$48,690
Median Earnings
$1,767
Median Rent
$420,400
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.
Frequently Asked Questions
What type of property is this?
Office building - Vacant building in mixed-use campus near medical facilities.
Where is this office building located?
The property is located at 3280 N Cimarron Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $9,049,638.
What are key features of this property?
This property features: Located within Cheyenne Corporate Center, a well‑established mixed‑use campus.; Proximity to Mountainview Hospital, Optum, and UNLV Health clinic, attracting medical tenants.; Minimal management required due to commercial association.
