Office Warehouse Building Near
For Sale
$1,199,000
6420 Windy Road, Las Vegas, NV 89119
Office warehouse building with fenced yard, near I-15 and I-215.
Property Size5,587 SF
Price / SF$214.61
Days on Market214
Property Features for 6420 Windy Road
General Information
Standard status
Active
Size
5,587 SF
Class
B
Property subtype
Office
Building Details
Building Size
5,587 SF
Listing Agency:
(702) 610-1002
Listed By:
Jarrad Katz, SIOR, CCIM · License #NV #B.0145888.LLC
(702) 610-1002
Source:
Corfac
Added: Jan 26
Changed: Aug 27
Last Checked: Aug 28 at 9:20AM
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 Jarrad Katz, SIOR, CCIM
Investment Insights
Based on property information with market context.
The property at 6420 Windy Road is an office warehouse building offering approximately 5,587 square feet of space. The building features a two-story office area that includes multiple private offices, a breakroom, and four restrooms. Additionally, the property includes a small fenced yard and a bonus mezzanine storage area. Located in the Airport submarket, the property provides convenient access to I-15 and I-215. It is within walking distance of Town Square and offers direct access to the Southwest submarket via Sunset Road.
Key Highlights
- Proximity to I‑15 and I‑215 for convenient transportation.
- Office warehouse building with +\/-5,587 SF of space.
- Two‑story office space with multiple private offices.
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
$85,984
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
7.17%
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%
$1,719,680
$1.7M
Cap Rate 7%
$1,228,343
$1.2M
Cap Rate 9%
$955,378
$955.4K
Market Conditions
NOI Build-Up for 5,587 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
$134.1K $24.00/SF
− Vacancy
−$19.4K −$3.48/SF
EGI
$114.6K $20.52/SF
− OpEx
−$28.7K −$5.13/SF
NOI
$86.0K $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%
$1,719,680
Cap Rate 7%
$1,228,343
Cap Rate 9%
$955,378
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,984 @ 7.0% cap · market cap 7.17%
Second Best
Warehouse
$575.7K
$503.8K – $671.7K
NOI $40,301 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $135,138 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,287
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
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 - Office warehouse building with fenced yard, near I-15 and I-215.
Where is this flex space located?
The property is located at 6420 Windy Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Proximity to I‑15 and I‑215 for convenient transportation.; Office warehouse building with +\/-5,587 SF of space.; Two‑story office space with multiple private offices.
