Office Condo Suite with
For Sale
$437,500
7229 W Sahara Ave, Las Vegas, NV 89117
Suite 120 is a 1,250 SF office condo with office, conference room, open work areas, and break room.
Property Size1,250 SF
Price / SF$350
Days on Market69
Property Features for 7229 W Sahara Ave
General Information
Standard status
Active
Size
1,250 SF
Class
B
Property subtype
Office
Additional Details
Road Access
Yes
Amenities
surface and covered parking
landscaped common areas
Building Details
Building Size
1,250 SF
Year Built
2007
Listing Agency:
MDL Group
Listed By:
Michael Greene, CCIM · License #NV #S.0186326
(917) 414-9558
Source:
Corfac
Added: Jul 3
Changed: Sep 8
Last Checked: Sep 8 at 6:23AM
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 MDL Group
Investment Insights
Based on property information with market context.
Suite 120 is a ±1,250 SF office condo located within a Class B office complex developed in 2007. The suite is laid out to maximize usable space and includes an office, conference room, two open work areas, a break room, and a restroom.
The building is part of Stone Canyon Professional Park, a professional office and medical office condominium development positioned along West Sahara Avenue. The property offers both surface and covered parking, landscaped common areas, and visibility and accessibility for professional and administrative users.
For tenants or buyers seeking a turn-key, professionally maintained office suite, this space provides a mix of private and collaborative areas within a dedicated office/medical condominium setting.
The building is part of Stone Canyon Professional Park, a professional office and medical office condominium development positioned along West Sahara Avenue. The property offers both surface and covered parking, landscaped common areas, and visibility and accessibility for professional and administrative users.
For tenants or buyers seeking a turn-key, professionally maintained office suite, this space provides a mix of private and collaborative areas within a dedicated office/medical condominium setting.
Key Highlights
- 1,250 SF office condo (Suite 120) built in 2007
- Suite layout includes an office, conference room, 2 open work areas, break room, and restroom
- Located in Stone Canyon Professional Park, an office and medical office condominium development
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
$19,238
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
4.40%
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%
$384,760
$384.8K
Cap Rate 7%
$274,829
$274.8K
Cap Rate 9%
$213,756
$213.8K
Market Conditions
NOI Build-Up for 1,250 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
$30.0K $24.00/SF
− Vacancy
−$4.4K −$3.48/SF
EGI
$25.7K $20.52/SF
− OpEx
−$6.4K −$5.13/SF
NOI
$19.2K $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%
$384,760
Cap Rate 7%
$274,829
Cap Rate 9%
$213,756
Alternative Uses
Best Use
Office B
$274.8K
$240.5K – $320.6K
NOI $19,238 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$431.9K
$377.9K – $503.9K
NOI $30,235 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 89117, NV
57,497
Population
25,494
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
9.2 sq mi
ZIP Area
6,250
Density / Sq Mi
$71,497
Median Household Income
$40,187
Median Earnings
$1,691
Median Rent
$481,900
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 - Suite 120 is a 1,250 SF office condo with office, conference room, open work areas, and break room.
Where is this office units located?
The property is located at 7229 W Sahara Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $437,500.
What are key features of this property?
This property features: 1,250 SF office condo (Suite 120) built in 2007; Suite layout includes an office, conference room, 2 open work areas, break room, and restroom; Located in Stone Canyon Professional Park, an office and medical office condominium development
