Freestanding Flex Space with
For Sale
Contact for pricing
Pending
5995 W Wigwam Ave, Las Vegas, NV 89139
Industrial and office improvements support manufacturing, distribution, and corporate operations within Wigwam Jones Industrial Park.
Property Size9,652 SF
Days on Market82
Property Features for 5995 W Wigwam Ave
General Information
Standard status
Pending
Size
9,652 SF
Property subtype
Industrial
Zoning
Designed Manufacturing (M-D)
Additional Details
Office Build-Out
1,487 SF
Building Details
Buildings
1
Listing Agency:
General Realty Group Inc
(702) 768-1713
Listed By:
David Shirit · License #NV
Source:
Crexi
Added: Jun 12
Changed: Aug 31
Last Checked: Aug 31 at 2:32AM
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 General Realty Group Inc
Investment Insights
Based on property information with market context.
This freestanding 9,652 SF flex property combines industrial and office components within Wigwam Jones Industrial Park. The building carries Designed Manufacturing (M-D) zoning and is configured for manufacturing, distribution, and corporate operations.
The second-floor office encompasses approximately 1,487 SF in an open-concept layout. Exposed industrial ceilings, floor-to-ceiling natural light, and wood-look flooring define the office environment. The property is located at 5995 W Wigwam Ave in Las Vegas, Nevada.
The second-floor office encompasses approximately 1,487 SF in an open-concept layout. Exposed industrial ceilings, floor-to-ceiling natural light, and wood-look flooring define the office environment. The property is located at 5995 W Wigwam Ave in Las Vegas, Nevada.
Key Highlights
- 9,652 SF freestanding industrial and office building
- Designed Manufacturing (M‑D) zoning
- Approximately 1,487 SF second‑floor open‑concept office
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
$148,544
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
4.10%
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%
$2,970,880
$3.0M
Cap Rate 7%
$2,122,057
$2.1M
Cap Rate 9%
$1,650,489
$1.7M
Market Conditions
NOI Build-Up for 9,652 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
$198.1K $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%
$2,970,880
Cap Rate 7%
$2,122,057
Cap Rate 9%
$1,650,489
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,544 @ 7.0% cap · market cap 4.10%
Second Best
Warehouse
$994.6K
$870.3K – $1.16M
NOI $69,624 @ 7.0% cap · market cap 1.92%
Theoretical Best
Specialty Retail
$3.34M
$2.92M – $3.89M
NOI $233,462 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89139, NV
44,960
Population
15,206
Households
3
Avg Household Size
35
Median Age
33%
College-Educated
89%
High-School Grad
10.7 sq mi
ZIP Area
4,202
Density / Sq Mi
$96,044
Median Household Income
$43,511
Median Earnings
$1,848
Median Rent
$449,400
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?
Flex space - Industrial and office improvements support manufacturing, distribution, and corporate operations within Wigwam Jones Industrial Park.
Where is this flex space located?
The property is located at 5995 W Wigwam Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,619,500.
What are key features of this property?
This property features: 9,652 SF freestanding industrial and office building; Designed Manufacturing (M‑D) zoning; Approximately 1,487 SF second‑floor open‑concept office
