Class A Medical Office
For Sale
Contact for pricing
Pending
3650 S Eastern Ave, Las Vegas, NV 89169
Single-story medical office building in a sought-after Las Vegas location.
Property Size9,200 SF
Days on Market708
Property Features for 3650 S Eastern Ave
General Information
Standard status
Pending
Size
9,200 SF
Class
A
Total Parking Spaces
65
Property subtype
Office, Senior Living, Special Purpose
Zoning
C-P
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$115,420
Building Details
Year Built
1984
Year Renovated
2024
Buildings
3
Stories
1
Units
16
Listing Agency:
International Realty LV
(702) 248-1818
Listed By:
Lawrence Strychalski · License #NV B.1003087
Source:
Crexi
Added: Sep 3, 2024
Changed: Aug 8
Last Checked: Aug 9 at 2:47PM
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 International Realty LV
Investment Insights
Based on property information with market context.
Located at 3650 S. Eastern Ave #100, Las Vegas, NV 89169, this single-story Class "A" medical office building offers a commercial opportunity with potential owner financing. The property is situated across from the Las Vegas National Golf Club. Benefiting from direct visibility and access on S. Eastern Avenue, the location provides high traffic exposure suitable for professional or medical uses. The surrounding area includes CVS Pharmacy, Starbucks, Ross, gas stations, and multiple medical offices, all within a short drive. The property has a size of 9200 square feet.
Key Highlights
- Owner will carry financing available.
- Prime Class "A" medical office building.**
- Excellent access and visibility directly on S. Eastern Avenue.**
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
$121,882
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
7.94%
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%
$2,437,640
$2.4M
Cap Rate 7%
$1,741,171
$1.7M
Cap Rate 9%
$1,354,244
$1.4M
Market Conditions
NOI Build-Up for 9,200 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
$220.8K $24.00/SF
− Vacancy
−$17.7K −$1.92/SF
EGI
$203.1K $22.08/SF
− OpEx
−$81.3K −$8.83/SF
NOI
$121.9K $13.25/SF
Area
Las Vegas, NV
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,437,640
Cap Rate 7%
$1,741,171
Cap Rate 9%
$1,354,244
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,588 @ 7.0% cap · market cap 9.22%
Second Best
Healthcare Medical
$1.74M
$1.52M – $2.03M
NOI $121,882 @ 7.0% cap · market cap 7.94%
Theoretical Best
Specialty Retail
$3.18M
$2.78M – $3.71M
NOI $222,529 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89169, NV
25,938
Population
14,070
Households
1.8
Avg Household Size
36
Median Age
19%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
7,629
Density / Sq Mi
$39,740
Median Household Income
$32,457
Median Earnings
$1,159
Median Rent
$299,900
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story medical office building in a sought-after Las Vegas location.
Where is this medical office space located?
The property is located at 3650 S Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,536,000.
What are key features of this property?
This property features: Owner will carry financing available.; Prime Class "A" medical office building.**; Excellent access and visibility directly on S. Eastern Avenue.**
