Two-Suite Office
For Sale
Contact for pricing
5920 S Rainbow Blvd, Las Vegas, NV 89118
Office condominium comprising two suites near medical facilities and major roadways in southwest Las Vegas.
Property Size3,127 SF
Price / SF$425
Days on Market209
Property Features for 5920 S Rainbow Blvd
General Information
Standard status
Active
Size
3,127 SF
Property subtype
Office
Listing Agency:
Millennium Commercial Properties LLC
Listed By:
jeff chain · License #B26141
Source:
Crexi
Added: Mar 25
Changed: Oct 2
Last Checked: Oct 19 at 3:24AM
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 Millennium Commercial Properties LLC
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Investment Insights
Based on property information with market context.
This office condominium includes Suites 1 and 2 within a 3,127-square-foot office unit at 5920 S Rainbow Blvd in Las Vegas. The property is offered for sale and provides a two-suite configuration for an owner-user or office occupancy.
The property is positioned in the Las Vegas SW submarket, within a commercial area near medical facilities and major roadways. Its address at 5920 S Rainbow Blvd places the office unit within the broader 5920–5940 S Rainbow Blvd property.
The property is positioned in the Las Vegas SW submarket, within a commercial area near medical facilities and major roadways. Its address at 5920 S Rainbow Blvd places the office unit within the broader 5920–5940 S Rainbow Blvd property.
Key Highlights
- 3,127‑square‑foot office condominium
- Includes Suites 1 and 2
- Located at 5920 S Rainbow Blvd, Las Vegas, NV 89118
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,125
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$962,500
$962.5K
Cap Rate 7%
$687,500
$687.5K
Cap Rate 9%
$534,722
$534.7K
Market Conditions
NOI Build-Up for 3,127 SF
Gross rent
$75.0K $24.00/SF
− Vacancy
−$10.9K −$3.48/SF
EGI
$64.2K $20.52/SF
− OpEx
−$16.0K −$5.13/SF
NOI
$48.1K $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 Rate 5%
$962,500
Cap Rate 7%
$687,500
Cap Rate 9%
$534,722
Alternative Uses
Best Use
Office B
$687.5K
$601.6K – $802.1K
NOI $48,125 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.08M
$945.5K – $1.26M
NOI $75,636 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
Explore this area
Business Placement
Demographics for 89118, NV
22,588
Population
10,345
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
10.6 sq mi
ZIP Area
2,131
Density / Sq Mi
$67,384
Median Household Income
$36,629
Median Earnings
$1,501
Median Rent
$391,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Las Vegas, NV
Frequently Asked Questions
What type of property is this?
Office unit - Office condominium comprising two suites near medical facilities and major roadways in southwest Las Vegas.
Where is this office unit located?
The property is located at 5920 S Rainbow Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,328,975.
What are key features of this property?
This property features: 3,127‑square‑foot office condominium; Includes Suites 1 and 2; Located at 5920 S Rainbow Blvd, Las Vegas, NV 89118
