One-Story Office Condo with
For Sale
Contact for pricing
6745 S Eastern Avenue Unit 2, Las Vegas, NV 89119
Renovated one-story office condo features an open bullpen, modern break room, and an ADA bathroom.
Property Size3,200 SF
Price / SF$359.38
Days on Market146
Property Features for 6745 S Eastern Avenue Unit 2
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
5
Property subtype
Industrial
Zoning
Industrial Park (IP)
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Amenities
open bullpen area
ADA bathroom
modern break room
natural light
modern flair
Building Details
Year Built
2007
Year Renovated
2022
Stories
1
Listing Agency:
North American Commercial
Listed By:
Anthony Battisti · License #S.0200033
Source:
Crexi
Added: Apr 12
Changed: Sep 3
Last Checked: Sep 3 at 10:52AM
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 North American Commercial
Investment Insights
Based on property information with market context.
This beautifully renovated, one-story office condo includes a large open bullpen area, a modern break room, and one ADA bathroom. The space has windows throughout to bring in natural light, supporting a bright, functional work environment.
The property is located just south of Sunset and Eastern Ave in the Las Vegas Valley, with easy access to I-15 and I-215. It is less than a mile from McCarran International Airport and also provides proximity to the Las Vegas Strip.
As an office condo configuration, the layout centers on an open bullpen plan with dedicated support space for break needs and ADA-accessible restroom facilities.
The property is located just south of Sunset and Eastern Ave in the Las Vegas Valley, with easy access to I-15 and I-215. It is less than a mile from McCarran International Airport and also provides proximity to the Las Vegas Strip.
As an office condo configuration, the layout centers on an open bullpen plan with dedicated support space for break needs and ADA-accessible restroom facilities.
Key Highlights
- Renovated one‑story office condo with a large open bullpen area
- 1 ADA bathroom
- Modern break room
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
$49,248
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
4.28%
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%
$984,960
$985.0K
Cap Rate 7%
$703,543
$703.5K
Cap Rate 9%
$547,200
$547.2K
Market Conditions
NOI Build-Up for 3,200 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
$76.8K $24.00/SF
− Vacancy
−$11.1K −$3.48/SF
EGI
$65.7K $20.52/SF
− OpEx
−$16.4K −$5.13/SF
NOI
$49.2K $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%
$984,960
Cap Rate 7%
$703,543
Cap Rate 9%
$547,200
Alternative Uses
Best Use
Office B
$703.5K
$615.6K – $820.8K
NOI $49,248 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.11M
$967.5K – $1.29M
NOI $77,401 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,668
Businesses Nearby
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?
Office units - Renovated one-story office condo features an open bullpen, modern break room, and an ADA bathroom.
Where is this office units located?
The property is located at 6745 S Eastern Avenue Unit 2 Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Renovated one‑story office condo with a large open bullpen area; 1 ADA bathroom; Modern break room
