Modern Office Building Near
For Sale
$2,350,000
3470 E Russell Road, Las Vegas, NV 89120
Two-story office building with rentable space near Harry Reid Airport.
Property Size11,310 SF
Price / SF$207.78
Days on Market196
Property Features for 3470 E Russell Road
General Information
Standard status
Active
Size
11,310 SF
Class
B
Property subtype
Office
Building Details
Building Size
11,310 SF
Listing Agency:
SVN | The Equity Group
Listed By:
Paul Chaffee, CCIM · License #NV #BS.1000874.LLC
(702) 218-8404
Source:
Svn
Added: Mar 26
Changed: Oct 6
Last Checked: Oct 7 at 11:01AM
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 SVN | The Equity Group
Investment Insights
Based on property information with market context.
The property at 3470 E Russell Road is a modern-style, two-story office building offering approximately 9,430 square feet of rentable space within a total property size of 11,310 square feet. The building is strategically located minutes from Harry Reid International Airport. It features 12 offices, conference rooms, a reception area, storage and utility rooms, and a break room. The building also includes an elevator and 17 parking spaces. This property is suitable for an owner-user.
Key Highlights
- Strategic location minutes from Harry Reid International Airport
- Approximately 9,430 SF of versatile and rentable space suitable for an owner‑user
- Modern‑style, luxury two‑story office building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,061
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,481,220
$3.5M
Cap Rate 7%
$2,486,586
$2.5M
Cap Rate 9%
$1,934,011
$1.9M
Market Conditions
NOI Build-Up for 11,310 SF
Gross rent
$271.4K $24.00/SF
− Vacancy
−$39.4K −$3.48/SF
EGI
$232.1K $20.52/SF
− OpEx
−$58.0K −$5.13/SF
NOI
$174.1K $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 Rate 5%
$3,481,220
Cap Rate 7%
$2,486,586
Cap Rate 9%
$1,934,011
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.90M
NOI $174,061 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,566 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with rentable space near Harry Reid Airport.
Where is this office building located?
The property is located at 3470 E Russell Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Strategic location minutes from Harry Reid International Airport; Approximately 9,430 SF of versatile and rentable space suitable for an owner‑user; Modern‑style, luxury two‑story office building
