Downtown Office Investment
For Sale
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721 South 8th Street, Las Vegas, NV 89101
For-sale office property positioned for downtown investment or owner-user use.
Property Size1,488 SF
Price / SF$336.02
Days on Market174
Property Features for 721 South 8th Street
General Information
Standard status
Active
Size
1,488 SF
Class
C
Total Parking Spaces
2
Property subtype
Office
Zoning
P-O
Site & Location
Neighborhood
Office Core District
Building Details
Year Built
1946
Year Renovated
2023
Buildings
2
Listing Agency:
Michaels Follmer Real Estate
Listed By:
Grant Bergdoll · License #NV. S.0204379
Source:
Crexi
Added: May 4
Changed: Oct 16
Last Checked: Oct 23 at 7:11AM
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 Michaels Follmer Real Estate
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Investment Insights
Based on property information with market context.
This for-sale office property presents a downtown investment or owner-user opportunity. The offering includes commercial office space totaling 1,488 square feet.
The property is located at 721 South 8th Street in Las Vegas, Nevada 89101. It is being marketed as a flexible office use within a downtown setting, suitable for buyers evaluating an owner-occupied scenario or a controlled investment strategy.
With a defined office footprint and a compact total size, the space is positioned for purchasers seeking an office asset rather than a larger multi-tenant building.
The property is located at 721 South 8th Street in Las Vegas, Nevada 89101. It is being marketed as a flexible office use within a downtown setting, suitable for buyers evaluating an owner-occupied scenario or a controlled investment strategy.
With a defined office footprint and a compact total size, the space is positioned for purchasers seeking an office asset rather than a larger multi-tenant building.
Key Highlights
- Office property built in 1946
- Positioned for downtown investment or owner‑user use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,900
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,000
$458.0K
Cap Rate 7%
$327,143
$327.1K
Cap Rate 9%
$254,444
$254.4K
Market Conditions
NOI Build-Up for 1,488 SF
Gross rent
$35.7K $24.00/SF
− Vacancy
−$5.2K −$3.48/SF
EGI
$30.5K $20.52/SF
− OpEx
−$7.6K −$5.13/SF
NOI
$22.9K $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 Rate 5%
$458,000
Cap Rate 7%
$327,143
Cap Rate 9%
$254,444
Alternative Uses
Best Use
Office B
$327.1K
$286.3K – $381.7K
NOI $22,900 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$514.2K
$449.9K – $599.9K
NOI $35,992 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,780
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Las Vegas, NV
Frequently Asked Questions
What type of property is this?
Office unit - For-sale office property positioned for downtown investment or owner-user use.
Where is this office unit located?
The property is located at 721 South 8th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Office property built in 1946; Positioned for downtown investment or owner‑user use
