Owner-User Office
For Sale
$2,300,000
606 S 9th St, Las Vegas, NV 89101
Two-story property includes a fully finished basement and distinctive Swiss Chalet-inspired exterior.
Property Size7,840 SF
Lot Size0.19 Acres
Price / SF$293.37
Days on Market186
Property Features for 606 S 9th St
General Information
Standard status
Active
Size
7,840 SF
Class
B
Lot size
0.19 Acres
Property subtype
Office
Building Details
Building Size
7,840 SF
Year Built
1993
Buildings
1
Stories
2
Listing Agency:
MDL Group
(225) 284-0985
Listed By:
Buck Hujabre · License #NV #BS.1002453
(225) 284-0985
Source:
Corfac
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 30 at 11:43AM
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.
This office building offers approximately 7,840 square feet across two stories and a fully built-out basement. Constructed in 1993, the property occupies approximately 0.19 acres and features an exterior designed to resemble a Swiss chalet, giving the building a distinctive architectural identity.
The property is located at 606 S 9th St in downtown Las Vegas, within the area known as Lawyer’s Row. The Federal Justice Center and Clark County Justice Center are both nearby, placing the building within an established legal and civic setting.
The property is located at 606 S 9th St in downtown Las Vegas, within the area known as Lawyer’s Row. The Federal Justice Center and Clark County Justice Center are both nearby, placing the building within an established legal and civic setting.
Key Highlights
- Approximately 7,840 SF office building
- Two‑story configuration with fully built‑out basement
- Approximately 0.19‑acre lot
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
$120,658
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
5.25%
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%
$2,413,160
$2.4M
Cap Rate 7%
$1,723,686
$1.7M
Cap Rate 9%
$1,340,644
$1.3M
Market Conditions
NOI Build-Up for 7,840 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
$188.2K $24.00/SF
− Vacancy
−$27.3K −$3.48/SF
EGI
$160.9K $20.52/SF
− OpEx
−$40.2K −$5.13/SF
NOI
$120.7K $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%
$2,413,160
Cap Rate 7%
$1,723,686
Cap Rate 9%
$1,340,644
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,658 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,634 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,780
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story property includes a fully finished basement and distinctive Swiss Chalet-inspired exterior.
Where is this office building located?
The property is located at 606 S 9th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Approximately 7,840 SF office building; Two‑story configuration with fully built‑out basement; Approximately 0.19‑acre lot
