Technique Offices in Southwest
For Sale
Contact for pricing
5985 S Jones Blvd, Las Vegas, NV 89118
Luxury single-story office buildings in Las Vegas' Southwest Business District.
Property Size3,973 SF
Price / SF$445
Days on Market566
Property Features for 5985 S Jones Blvd
General Information
Standard status
Active
Size
3,973 SF
Class
A
Property subtype
Office
Zoning
C-P
Investment Type
Owner/User
Building Details
Year Built
2025
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Brand Real Estate
(702) 290-8838
Listed By:
Bridget Richards · License #NV 176
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 15
Last Checked: Aug 29 at 5:08PM
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 Brand Real Estate
Investment Insights
Based on property information with market context.
Technique Offices offer an opportunity to own business real estate in the Southwest Business District of Las Vegas. Designed with attention to detail, these single-story office buildings are planned to be available for purchase. The property is located less than 1 mile from the I-215 Beltway on Jones Blvd, in the heart of the Southwest Business District, with direct access to I-215. Commute times to both Summerlin and Green Valley areas are approximately 12 minutes via I-215. Jones Blvd is described as an increasingly popular thoroughfare with less congested drive times. The location provides direct access with parking up front. The property features resort-style landscaping and exterior finishes. The site has 300' of direct street visibility on Jones Blvd, with an estimated 35,000 drivers passing by every day, affording building signage opportunities. The project is expected to be completed in Q4 2024.
Key Highlights
- Prime Location: Situated in the highly desirable Southwest Business District of Las Vegas, less than 1 mile from the I‑215 Beltway, offering unmatched accessibility.
- High Visibility: Boasts 300' of direct street visibility on Jones Blvd., a major thoroughfare, with an estimated 35,000 daily drivers, providing unequaled building signage opportunities.
- Easy Access: Designed for convenient access with surface parking directly in front of the building.
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
$61,144
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
3.46%
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%
$1,222,880
$1.2M
Cap Rate 7%
$873,486
$873.5K
Cap Rate 9%
$679,378
$679.4K
Market Conditions
NOI Build-Up for 3,973 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
$95.4K $24.00/SF
− Vacancy
−$13.8K −$3.48/SF
EGI
$81.5K $20.52/SF
− OpEx
−$20.4K −$5.13/SF
NOI
$61.1K $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 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%
$1,222,880
Cap Rate 7%
$873,486
Cap Rate 9%
$679,378
Alternative Uses
Best Use
Office B
$873.5K
$764.3K – $1.02M
NOI $61,144 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,099 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
306
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
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 - Luxury single-story office buildings in Las Vegas' Southwest Business District.
Where is this office building located?
The property is located at 5985 S Jones Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,767,985.
What are key features of this property?
This property features: Prime Location: Situated in the highly desirable Southwest Business District of Las Vegas, less than 1 mile from the I‑215 Beltway, offering unmatched accessibility.; High Visibility: Boasts 300' of direct street visibility on Jones Blvd., a major thoroughfare, with an estimated 35,000 daily drivers, providing unequaled building signage opportunities.; Easy Access: Designed for convenient access with surface parking directly in front of the building.
