Grey Shell Office
For Sale
Contact for pricing
Pending
7280 W Sunset Rd, Las Vegas, NV 89113
Upcoming three-story office building delivered in grey shell condition with prominent street visibility and signage.
Property Size2,670 SF
Days on Market135
Property Features for 7280 W Sunset Rd
General Information
Standard status
Pending
Size
2,670 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
3
Listing Agency:
CBRE | Las Vegas
(702) 369-4800
Listed By:
Ryan Martin · License #0048284
(702) 630-2671
Source:
Moodyscre
Added: May 5
Changed: Sep 4
Last Checked: Sep 15 at 4:24AM
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 CBRE | Las Vegas
Investment Insights
Based on property information with market context.
Sunset Canyon Corporate Center is an upcoming three-story professional office building totaling approximately 41,207 SF. The space will be delivered in grey shell condition, providing a foundation for tenants or owners to build out to their specific operating needs.
The property is positioned on the NEC of W. Sunset Road and S. Tenaya Way, with quick access to the CC-215 Beltway via Rainbow Road or Buffalo Road. The site is expected to offer prominent street visibility and building signage.
As part of the popular Southwest Submarket, the building’s configuration and corner placement are designed to support an office presence with clear on-site identity.
The property is positioned on the NEC of W. Sunset Road and S. Tenaya Way, with quick access to the CC-215 Beltway via Rainbow Road or Buffalo Road. The site is expected to offer prominent street visibility and building signage.
As part of the popular Southwest Submarket, the building’s configuration and corner placement are designed to support an office presence with clear on-site identity.
Key Highlights
- Upcoming 3‑story professional office building totaling 141,207 SF
- Delivered in grey shell condition
- Located on the NEC of W. Sunset Road and S. Tenaya Way
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
$41,091
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
3.62%
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%
$821,820
$821.8K
Cap Rate 7%
$587,014
$587.0K
Cap Rate 9%
$456,567
$456.6K
Market Conditions
NOI Build-Up for 2,670 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
$64.1K $24.00/SF
− Vacancy
−$9.3K −$3.48/SF
EGI
$54.8K $20.52/SF
− OpEx
−$13.7K −$5.13/SF
NOI
$41.1K $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%
$821,820
Cap Rate 7%
$587,014
Cap Rate 9%
$456,567
Alternative Uses
Best Use
Office B
$587.0K
$513.6K – $684.9K
NOI $41,091 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$922.6K
$807.3K – $1.08M
NOI $64,582 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
Explore this area
Business Placement
Demographics for 89113, NV
35,829
Population
16,151
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,318
Density / Sq Mi
$88,750
Median Household Income
$48,342
Median Earnings
$1,759
Median Rent
$463,900
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Upcoming three-story office building delivered in grey shell condition with prominent street visibility and signage.
Where is this office building located?
The property is located at 7280 W Sunset Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,134,750.
What are key features of this property?
This property features: Upcoming 3‑story professional office building totaling 141,207 SF; Delivered in grey shell condition; Located on the NEC of W. Sunset Road and S. Tenaya Way
