Single-Story Mixed-Use
New
For Sale
Contact for pricing
3672-3674 N Rancho Drive, Las Vegas, NV 89130
Multi-tenant office and retail building with C-2 General Commercial zoning.
Property Size9,650 SF
Lot Size0.69 Acres
Price / SF$217.62
Days on Market5
Property Features for 3672-3674 N Rancho Drive
General Information
Standard status
Active
Size
9,650 SF
Lot size
0.69 Acres
Property subtype
Office, Retail
Zoning
C-2
Additional Details
Road Access
Yes
Building Details
Year Built
2000
Buildings
1
Stories
1
Building Size
9,650 SF
Tenancy
Multi
Listing Agency:
Albright Callister & Associates LLC
Listed By:
Michael McLeod · License #NV 0067502
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 2:34PM
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 Albright Callister & Associates LLC
Investment Insights
Based on property information with market context.
This single-story mixed-use property combines office and retail space within an approximately 9,650-square-foot building. Constructed in 2000, the asset occupies 0.69 acres and is configured for multiple tenants. Existing leases use a modified gross structure, supporting both office and retail occupancy within the same commercial property.
The building is located at 3672-3674 N. Rancho Drive in Las Vegas, Nevada, with frontage along Rancho Drive. C-2 General Commercial zoning applies to the site. The property is positioned as an owner-user asset with an established multi-tenant configuration.
The building is located at 3672-3674 N. Rancho Drive in Las Vegas, Nevada, with frontage along Rancho Drive. C-2 General Commercial zoning applies to the site. The property is positioned as an owner-user asset with an established multi-tenant configuration.
Key Highlights
- Approximately 9,650 square feet of single‑story office and retail space
- 0.69‑acre site with frontage on Rancho Drive
- C‑2 General Commercial zoning
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
$148,514
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
7.07%
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%
$2,970,280
$3.0M
Cap Rate 7%
$2,121,629
$2.1M
Cap Rate 9%
$1,650,156
$1.7M
Market Conditions
NOI Build-Up for 9,650 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
$231.6K $24.00/SF
− Vacancy
−$33.6K −$3.48/SF
EGI
$198.0K $20.52/SF
− OpEx
−$49.5K −$5.13/SF
NOI
$148.5K $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%
$2,970,280
Cap Rate 7%
$2,121,629
Cap Rate 9%
$1,650,156
Alternative Uses
Best Use
Retail
$3.11M
$2.72M – $3.63M
NOI $217,853 @ 7.0% cap · market cap 10.37%
Second Best
Office B
$2.12M
$1.86M – $2.48M
NOI $148,514 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$3.33M
$2.92M – $3.89M
NOI $233,414 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
591
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?
Mixed-use property - Multi-tenant office and retail building with C-2 General Commercial zoning.
Where is this mixed-use property located?
The property is located at 3672-3674 N Rancho Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Approximately 9,650 square feet of single‑story office and retail space; 0.69‑acre site with frontage on Rancho Drive; C‑2 General Commercial zoning
