Professional Office Condominium
For Sale
Contact for pricing
6140 Brent Thurman Way, Las Vegas, NV 89148
Office condominium with covered parking options, building signage opportunities, and access to I-215 and Sunset Road.
Property Size10,000 SF
Price / SF$450
Days on Market13
Property Features for 6140 Brent Thurman Way
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Building Details
Parking Ratio
5 per 1,000 SF
Listing Agency:
Millennium Commercial Properties LLC
Listed By:
jeff chain · License #B26141
Source:
Crexi
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 6:22AM
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
Investment Insights
Based on property information with market context.
Suite 290 is a 10,000 SF office condominium within a two-building professional office project totaling approximately 74,010 SF. The property features modern second-generation office construction, covered parking options, prominent building signage opportunities, and parking at a 5:1,000 ratio. Suite configurations across the project range from 2,000 SF to full-floor opportunities of 37,005 SF.
Access is provided through Brent Thurman Way, with connections to I-215 and Sunset Road. The surrounding area includes IKEA, Durango Casino & Resort, UnCommons, Southern Hills Hospital, restaurants, retail, medical services, and hospitality uses. The property is available immediately and supports office, medical office, professional services, and investment use strategies as stated in the property information.
Access is provided through Brent Thurman Way, with connections to I-215 and Sunset Road. The surrounding area includes IKEA, Durango Casino & Resort, UnCommons, Southern Hills Hospital, restaurants, retail, medical services, and hospitality uses. The property is available immediately and supports office, medical office, professional services, and investment use strategies as stated in the property information.
Key Highlights
- 10,000 SF office condominium identified as Suite 290
- Two‑building professional office project totals approximately 74,010 SF
- Suite sizes range from 2,000 SF to full‑floor opportunities of 37,005 SF
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
$153,900
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
3.42%
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%
$3,078,000
$3.1M
Cap Rate 7%
$2,198,571
$2.2M
Cap Rate 9%
$1,710,000
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$34.8K −$3.48/SF
EGI
$205.2K $20.52/SF
− OpEx
−$51.3K −$5.13/SF
NOI
$153.9K $15.39/SF
Area
ZIP 89148
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%
$3,078,000
Cap Rate 7%
$2,198,571
Cap Rate 9%
$1,710,000
Alternative Uses
Best Use
Office B
$2.20M
$1.92M – $2.57M
NOI $153,900 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,280 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 89148, NV
61,281
Population
25,232
Households
2.4
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
9.7 sq mi
ZIP Area
6,318
Density / Sq Mi
$94,926
Median Household Income
$47,441
Median Earnings
$1,920
Median Rent
$443,600
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 units - Office condominium with covered parking options, building signage opportunities, and access to I-215 and Sunset Road.
Where is this office units located?
The property is located at 6140 Brent Thurman Way Las Vegas, NV.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 10,000 SF office condominium identified as Suite 290; Two‑building professional office project totals approximately 74,010 SF; Suite sizes range from 2,000 SF to full‑floor opportunities of 37,005 SF
