Multifamily Property with Transit
For Sale
$674,888
716 North 11th Street, Las Vegas, NV 89101
Established multifamily asset in a highly walkable setting with access to transit and bicycle-friendly routes.
Property Size3,356 SF
Days on Market13
Property Features for 716 North 11th Street
General Information
Standard status
Active
Size
3,356 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,617
Building Details
Building Size
3,356 SF
Year Built
1961
Listing Agency:
Real Broker LLC
(702) 236-4249
Listed By:
Falisha Rexford · License #S.0174757
(702) 236-4249
Source:
Vicerealtygroup
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 30 at 10:37PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This multifamily property was constructed in 1961 and is located at 716 N 11th St in Las Vegas, Nevada. The surrounding setting records a walk score of 85, indicating a very walkable area, along with a transit score of 69 and a bike score of 66.
The property’s location supports access by foot, public transportation, and bicycle, providing a range of transportation options for residents and visitors.
The property’s location supports access by foot, public transportation, and bicycle, providing a range of transportation options for residents and visitors.
Key Highlights
- 716 N 11th St, Las Vegas, NV 89101
- Built in 1961
- Walk score: 85, Very Walkable
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
$35,696
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
5.29%
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%
$713,920
$713.9K
Cap Rate 7%
$509,943
$509.9K
Cap Rate 9%
$396,622
$396.6K
Market Conditions
NOI Build-Up for 3,356 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
$68.5K $20.40/SF
− Vacancy
−$3.6K −$1.06/SF
EGI
$64.9K $19.34/SF
− OpEx
−$29.2K −$8.70/SF
NOI
$35.7K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$713,920
Cap Rate 7%
$509,943
Cap Rate 9%
$396,622
Alternative Uses
Best Use
Apartment 5plus
$509.9K
$446.2K – $594.9K
NOI $35,696 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,175 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Established multifamily asset in a highly walkable setting with access to transit and bicycle-friendly routes.
Where is this multifamily property located?
The property is located at 716 North 11th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $674,888.
What are key features of this property?
This property features: 716 N 11th St, Las Vegas, NV 89101; Built in 1961; Walk score: 85, Very Walkable
