Occupied Office
For Sale
Contact for pricing
4325 N Rancho Dr, Las Vegas, NV 89130
Two leased suites provide established office layouts with private rooms, work areas, and on-site parking.
Property Size13,368 SF
Price / SF$239.38
Days on Market160
Property Features for 4325 N Rancho Dr
General Information
Standard status
Active
Size
13,368 SF
Class
B
Property subtype
Office
Zoning
General Commercial (C-2)
Occupancy
100%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$177,418
Additional Details
Office Units
2
Building Details
Year Built
2004
Buildings
7
Stories
1
Tenancy
Multi
Listing Agency:
MDL Group
(702) 388-1800
Listed By:
Hayim Mizrachi, SIOR, CCIM · License #NV 143643
Source:
Crexi
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 31 at 2:06AM
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 MDL Group
Investment Insights
Based on property information with market context.
Northbrooke Business Park is a professional office property at 4325 N. Rancho Drive in Las Vegas. Built in 2004, the offering includes two occupied suites totaling approximately 13,368 SF. Each suite is arranged for office use with enclosed rooms, open workspace, and circulation paths connecting the entry to interior work areas. Angled perimeter walls create varied configurations within the suites.
The property is positioned in the Northwest submarket of Las Vegas and includes on-site parking. Suite 110-120 and Suite 150-170 are both occupied, providing an existing tenancy profile for an investor or an owner-user evaluating office space with current occupancy.
The property is positioned in the Northwest submarket of Las Vegas and includes on-site parking. Suite 110-120 and Suite 150-170 are both occupied, providing an existing tenancy profile for an investor or an owner-user evaluating office space with current occupancy.
Key Highlights
- Two occupied office suites totaling approximately 13,368 SF
- Suites 110‑120 and 150‑170 are currently occupied
- Multiple enclosed offices and workspace areas in each suite
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
$205,734
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
6.43%
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%
$4,114,680
$4.1M
Cap Rate 7%
$2,939,057
$2.9M
Cap Rate 9%
$2,285,933
$2.3M
Market Conditions
NOI Build-Up for 13,368 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
$320.8K $24.00/SF
− Vacancy
−$46.5K −$3.48/SF
EGI
$274.3K $20.52/SF
− OpEx
−$68.6K −$5.13/SF
NOI
$205.7K $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%
$4,114,680
Cap Rate 7%
$2,939,057
Cap Rate 9%
$2,285,933
Alternative Uses
Best Use
Office B
$2.94M
$2.57M – $3.43M
NOI $205,734 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.62M
$4.04M – $5.39M
NOI $323,345 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
867
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 units - Two leased suites provide established office layouts with private rooms, work areas, and on-site parking.
Where is this office units located?
The property is located at 4325 N Rancho Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Two occupied office suites totaling approximately 13,368 SF; Suites 110‑120 and 150‑170 are currently occupied; Multiple enclosed offices and workspace areas in each suite
