North West Las Vegas
For Sale
Contact for pricing
3660 N Rancho Dr, Las Vegas, NV 89130
Well-maintained multitenant office building in a high-visibility location.
Property Size22,195 SF
Lot Size1.61 Acres
Price / SF$192.84
Days on Market162
Property Features for 3660 N Rancho Dr
General Information
Standard status
Active
Size
22,195 SF
Class
B
Lot size
1.61 Acres
Property subtype
Office, Retail
Zoning
C-2
Occupancy
38%
Investment Type
Owner/User
Net Operating Income
$283,000
Building Details
Year Built
2000
Year Renovated
2020
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Executive Realty Services
Listed By:
Cici Cong · License #S.0180161
Source:
Crexi
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 18 at 11:09AM
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 Executive Realty Services
Investment Insights
Based on property information with market context.
Located in North West Las Vegas, 3660 N. Rancho Drive is a multitenant office property constructed in 2000. The single-story building has a size of approximately 22,195 square feet and is situated on approximately 1.61 acres. The building contains 5 suites, totaling up to 18,715 square feet available for owner occupancy. Located within the Rancho Gowan Business Park, the property benefits from strong surrounding demographics, accessibility, and proximity to retail, dining, and service amenities. The property is well-positioned as an owner/user option in the Las Vegas office market. Tenant may be willing to renew the lease for investors.
Key Highlights
- High‑visibility location in North West Las Vegas.
- Opportunity for owner occupancy with up to 18,715 sqft available.
- Well‑maintained, multitenant office property.
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
$341,581
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
7.98%
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%
$6,831,620
$6.8M
Cap Rate 7%
$4,879,729
$4.9M
Cap Rate 9%
$3,795,344
$3.8M
Market Conditions
NOI Build-Up for 22,195 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
$532.7K $24.00/SF
− Vacancy
−$77.2K −$3.48/SF
EGI
$455.4K $20.52/SF
− OpEx
−$113.9K −$5.13/SF
NOI
$341.6K $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%
$6,831,620
Cap Rate 7%
$4,879,729
Cap Rate 9%
$3,795,344
Alternative Uses
Best Use
Office B
$4.88M
$4.27M – $5.69M
NOI $341,581 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.67M
$6.71M – $8.95M
NOI $536,852 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 89130, NV
34,212
Population
13,819
Households
2.5
Avg Household Size
42
Median Age
23%
College-Educated
91%
High-School Grad
7.7 sq mi
ZIP Area
4,443
Density / Sq Mi
$82,599
Median Household Income
$42,723
Median Earnings
$1,620
Median Rent
$391,300
Median Home Value
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 - Well-maintained multitenant office building in a high-visibility location.
Where is this office building located?
The property is located at 3660 N Rancho Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $4,280,000.
What are key features of this property?
This property features: High‑visibility location in North West Las Vegas.; Opportunity for owner occupancy with up to 18,715 sqft available.; Well‑maintained, multitenant office property.
