Leased Warehouse with Loading
New
For Sale
$5,750,000
4120 East Craig Road, North Las Vegas, NV 89030
Industrial warehouse occupied by two tenants, with full utility service and flexible bay configuration.
Property Size31,600 SF
Lot Size1.91 Acres
Price / SF$181.96
Days on Market7
Property Features for 4120 East Craig Road
General Information
Standard status
Active
Size
31,600 SF
Lot size
1.91 Acres
Property subtype
Industrial
Occupancy
100%
Warehouse & Industrial
Clear Height
21 ft
Drive-In Doors
7
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1999
Building Size
31,600 SF
Tenancy
Multi
Listing Agency:
CBRE - Las Vegas
(702) 369-4825
Listed By:
Lauren Willmore, Member Associate, Society of Industrial and Office Realtors · License #S.0188698
(702) 369-4825
Source:
Cbre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 8:10PM
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 CBRE - Las Vegas
Investment Insights
Based on property information with market context.
This warehouse property contains approximately 31,600 SF within a 1.91-acre site and was constructed in 1999. The building provides a 21-foot clear height across the warehouse area, seven grade-level loading doors measuring 10' x 12', a wet-pipe fire sprinkler system, and three-phase electrical service. No drop ceilings are present in the warehouse area.
The property is positioned near East Craig Road and Vandenberg Drive in North Las Vegas. Natural gas, electricity, water, and sewer service the facility, while parking is provided at a ratio of 1.79 spaces per 1,000 SF. The asset is 100% leased to two tenants and includes recurring billboard revenue. The layout may accommodate division into as many as six separate bays for future multi-tenant or flex use.
The property is positioned near East Craig Road and Vandenberg Drive in North Las Vegas. Natural gas, electricity, water, and sewer service the facility, while parking is provided at a ratio of 1.79 spaces per 1,000 SF. The asset is 100% leased to two tenants and includes recurring billboard revenue. The layout may accommodate division into as many as six separate bays for future multi-tenant or flex use.
Key Highlights
- ±31,600 SF industrial facility on 1.91 acres
- 100% leased to two tenants with recurring billboard revenue
- Seven grade‑level loading doors, each measuring 10' x 12'
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
$279,870
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
4.87%
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%
$5,597,400
$5.6M
Cap Rate 7%
$3,998,143
$4.0M
Cap Rate 9%
$3,109,667
$3.1M
Market Conditions
NOI Build-Up for 31,600 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
$360.2K $11.40/SF
− Vacancy
−$31.0K −$0.98/SF
EGI
$329.3K $10.42/SF
− OpEx
−$49.4K −$1.56/SF
NOI
$279.9K $8.86/SF
Area
North Las Vegas, NV
Vacancy
8.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
15.00%
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%
$5,597,400
Cap Rate 7%
$3,998,143
Cap Rate 9%
$3,109,667
Alternative Uses
Best Use
Warehouse
$4.00M
$3.50M – $4.66M
NOI $279,870 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.55M
$7.48M – $9.98M
NOI $598,605 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
7
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Iron Mountain — 4105 N Lamb Blvd, Las Vegas, NV 89115
- Short Recovery — 4384 E Alexander Rd, Las Vegas, NV 89115
- Sierra Moving Systems — 3830 E Craig Rd, North Las Vegas, NV 89030
- Champion Movers — 4420 Andrews St # C, North Las Vegas, NV 89081
- U-Pack — 4501 N Lamb Blvd, Las Vegas, NV 89115
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse occupied by two tenants, with full utility service and flexible bay configuration.
Where is this warehouse located?
The property is located at 4120 East Craig Road North Las Vegas, NV.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: ±31,600 SF industrial facility on 1.91 acres; 100% leased to two tenants with recurring billboard revenue; Seven grade‑level loading doors, each measuring 10' x 12'
