Renovated Office Suite with
For Sale
Contact for pricing
601 S Rancho Dr, Las Vegas, NV 89106
Office suite with executive and junior offices, bullpen, conference room, kitchen, and controlled interior access.
Property Size3,342 SF
Price / SF$325
Days on Market673
Property Features for 601 S Rancho Dr
General Information
Standard status
Active
Size
3,342 SF
Property subtype
OFFICE
Amenities
new floor tiles
countertops
bathroom fixtures
window blinds
fresh paint
4 executive offices
4 junior offices
bullpen
conference room
kitchen
reception area
controlled access
Listing Agency:
NAI Vegas
(702) 383-3383
Listed By:
Dhan Dhaliwal
(702) 371-9351
Source:
Moodyscre
Added: Nov 12, 2024
Changed: Aug 16
Last Checked: Sep 15 at 10:13AM
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 NAI Vegas
Investment Insights
Based on property information with market context.
Centrally positioned within the Quail Park II Business Park, this renovated office suite is offered for sale near Downtown Las Vegas. Recent upgrades include new floor tiles, countertops, bathroom fixtures, window blinds, and fresh paint.
The interior layout provides four executive offices and four junior offices, along with a spacious bullpen, conference room, kitchen, and reception area. Controlled access to the suite interior is also included to support security and privacy.
The suite is designed for a professional office environment with dedicated workspaces, shared meeting space, and common support areas for day-to-day operations.
The interior layout provides four executive offices and four junior offices, along with a spacious bullpen, conference room, kitchen, and reception area. Controlled access to the suite interior is also included to support security and privacy.
The suite is designed for a professional office environment with dedicated workspaces, shared meeting space, and common support areas for day-to-day operations.
Key Highlights
- Office suite in Quail Park II Business Park near Downtown Las Vegas
- Floor plan includes 4 executive offices, 4 junior offices, a bullpen, conference room, kitchen, and reception area
- Recently upgraded with new floor tiles, countertops, bathroom fixtures, window blinds, and fresh paint
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
$51,433
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
4.74%
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%
$1,028,660
$1.0M
Cap Rate 7%
$734,757
$734.8K
Cap Rate 9%
$571,478
$571.5K
Market Conditions
NOI Build-Up for 3,342 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
$80.2K $24.00/SF
− Vacancy
−$11.6K −$3.48/SF
EGI
$68.6K $20.52/SF
− OpEx
−$17.1K −$5.13/SF
NOI
$51.4K $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%
$1,028,660
Cap Rate 7%
$734,757
Cap Rate 9%
$571,478
Alternative Uses
Best Use
Office B
$734.8K
$642.9K – $857.2K
NOI $51,433 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,836 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
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Business Placement
Demographics for 89106, NV
27,695
Population
10,906
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
5,430
Density / Sq Mi
$38,848
Median Household Income
$31,265
Median Earnings
$1,169
Median Rent
$263,100
Median Home Value
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Market
Vacancy Rate% for Office in Las Vegas, NV
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with executive and junior offices, bullpen, conference room, kitchen, and controlled interior access.
Where is this office units located?
The property is located at 601 S Rancho Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,086,150.
What are key features of this property?
This property features: Office suite in Quail Park II Business Park near Downtown Las Vegas; Floor plan includes 4 executive offices, 4 junior offices, a bullpen, conference room, kitchen, and reception area; Recently upgraded with new floor tiles, countertops, bathroom fixtures, window blinds, and fresh paint
