Second-Generation Office Building with
For Sale
Contact for pricing
6950 Smoke Ranch Rd, Las Vegas, NV 89128
Built in 2008 and zoned C-PB, this office space offers prominent signage and convenient access to US-95.
Property Size18,000 SF
Price / SF$297.22
Days on Market57
Property Features for 6950 Smoke Ranch Rd
General Information
Standard status
Active
Size
18,000 SF
Elevators
Yes
Property subtype
OFFICE
Zoning
C-PB
Additional Details
Highway Access
Yes
Amenities
Prominent Signage Available
Building Details
Year Built
2008
Parking Ratio
4 per 1,000 SF
Listing Agency:
Colliers | Las Vegas
(702) 735-5700
Listed By:
Grant Traub, SIOR · License #LICS.0039295
(702) 604-2059
Source:
Moodyscre
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 15 at 10:07AM
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 Colliers | Las Vegas
Investment Insights
Based on property information with market context.
Second-generation office space available for sale or lease, offering approximately two size options: +/- 8,868 SF and +/- 18,000 SF. The property is within a planned business park and includes HOA and elevator maintenance as part of the estimated operating expenses, along with property taxes, common area utilities, and insurance.
Built in 2008, the office space benefits from prominent signage availability and on-site parking with a 4.0 per 1,000 parking ratio. It is located in the Las Vegas jurisdiction and is within one mile of US-95 via Lake Mead Blvd. or Cheyenne Ave.
This is a practical option for users seeking office space in a C-PB planned business park setting with highway proximity and visibility through available signage.
Built in 2008, the office space benefits from prominent signage availability and on-site parking with a 4.0 per 1,000 parking ratio. It is located in the Las Vegas jurisdiction and is within one mile of US-95 via Lake Mead Blvd. or Cheyenne Ave.
This is a practical option for users seeking office space in a C-PB planned business park setting with highway proximity and visibility through available signage.
Key Highlights
- +/− 8,868 SF or +/− 18,000 SF office space available
- Planned Business Park (C‑PB) zoning
- Built in 2008
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
$277,020
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
5.18%
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%
$5,540,400
$5.5M
Cap Rate 7%
$3,957,429
$4.0M
Cap Rate 9%
$3,078,000
$3.1M
Market Conditions
NOI Build-Up for 18,000 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
$432.0K $24.00/SF
− Vacancy
−$62.6K −$3.48/SF
EGI
$369.4K $20.52/SF
− OpEx
−$92.3K −$5.13/SF
NOI
$277.0K $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%
$5,540,400
Cap Rate 7%
$3,957,429
Cap Rate 9%
$3,078,000
Alternative Uses
Best Use
Office B
$3.96M
$3.46M – $4.62M
NOI $277,020 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.22M
$5.44M – $7.26M
NOI $435,383 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,385
Businesses Nearby
Explore this area
Business Placement
Demographics for 89128, NV
37,882
Population
16,840
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
6.0 sq mi
ZIP Area
6,314
Density / Sq Mi
$70,641
Median Household Income
$41,581
Median Earnings
$1,621
Median Rent
$378,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Las Vegas, NV
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2008 and zoned C-PB, this office space offers prominent signage and convenient access to US-95.
Where is this office building located?
The property is located at 6950 Smoke Ranch Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $5,350,000.
What are key features of this property?
This property features: +/− 8,868 SF or +/− 18,000 SF office space available; Planned Business Park (C‑PB) zoning; Built in 2008
