For Sale
$1,400,000
6889 S Eastern Ave, Las Vegas, NV 89119
Office Units
Property Size3,538 SF
Days on Market158
Property Features for 6889 S Eastern Ave
General Information
Standard status
Active
Size
3,538 SF
Class
B
Property subtype
Office
Occupancy
100%
Site & Location
Traffic Count
70,500 vehicles/day
Road Access
Yes
Building Details
Building Size
3,538 SF
Year Built
2006
Listed By:
Galit Kimerling-Moreau, SIOR · License #NV #S.0065773
(323) 244-1628
Source:
Corfac
Added: Apr 1
Changed: Sep 4
Last Checked: Sep 5 at 7:06AM
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 Galit Kimerling-Moreau, SIOR
Investment Insights
Based on property information with market context.
Key Highlights
- Year built: 2006
- 100% occupied investment opportunity with Unifi Aviation (Condo B)
- Located at 6889 S. Eastern Ave., in Palm Court Business Park
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
$54,450
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
3.89%
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%
$1,089,000
$1.1M
Cap Rate 7%
$777,857
$777.9K
Cap Rate 9%
$605,000
$605.0K
Market Conditions
NOI Build-Up for 3,538 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
$84.9K $24.00/SF
− Vacancy
−$12.3K −$3.48/SF
EGI
$72.6K $20.52/SF
− OpEx
−$18.1K −$5.13/SF
NOI
$54.4K $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%
$1,089,000
Cap Rate 7%
$777,857
Cap Rate 9%
$605,000
Alternative Uses
Best Use
Office B
$777.9K
$680.6K – $907.5K
NOI $54,450 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,577 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
70,500 VPD
Traffic count
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,440
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this office units located?
The property is located at 6889 S Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Year built: 2006; 100% occupied investment opportunity with Unifi Aviation (Condo B); Located at 6889 S. Eastern Ave., in Palm Court Business Park
