Grey Shell Professional Office
For Sale
Contact for pricing
7280 W Sunset Rd, Las Vegas, NV 89113
Three-story office building planned for grey shell delivery at a key intersection with major beltway access.
Property Size14,870 SF
Price / SF$450
Days on Market132
Property Features for 7280 W Sunset Rd
General Information
Standard status
Active
Size
14,870 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 13 at 6:27AM
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 41,207 SF. The property will be delivered in grey shell condition.
The site will be located at the northeast corner of W. Sunset Road and S. Tenaya Way, with quick access to the CC-215 Beltway via Rainbow Road or Buffalo Road. The property is positioned in the Southwest submarket and is described as having prominent street visibility and building signage.
As planned, this project provides a single multi-level office asset delivered in unfinished grey shell condition, offering flexibility for future tenant improvements.
The site will be located at the northeast corner of W. Sunset Road and S. Tenaya Way, with quick access to the CC-215 Beltway via Rainbow Road or Buffalo Road. The property is positioned in the Southwest submarket and is described as having prominent street visibility and building signage.
As planned, this project provides a single multi-level office asset delivered in unfinished grey shell condition, offering flexibility for future tenant improvements.
Key Highlights
- Upcoming 3‑story professional office building totaling approximately 41,207 SF
- Planned delivery in grey shell condition
- Site will be 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
$228,849
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
3.42%
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%
$4,576,980
$4.6M
Cap Rate 7%
$3,269,271
$3.3M
Cap Rate 9%
$2,542,767
$2.5M
Market Conditions
NOI Build-Up for 14,870 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
$356.9K $24.00/SF
− Vacancy
−$51.7K −$3.48/SF
EGI
$305.1K $20.52/SF
− OpEx
−$76.3K −$5.13/SF
NOI
$228.8K $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%
$4,576,980
Cap Rate 7%
$3,269,271
Cap Rate 9%
$2,542,767
Alternative Uses
Best Use
Office B
$3.27M
$2.86M – $3.81M
NOI $228,849 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.14M
$4.50M – $5.99M
NOI $359,675 @ 7.0% cap · market cap 5.38%
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 - Three-story office building planned for grey shell delivery at a key intersection with major beltway access.
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 $6,691,500.
What are key features of this property?
This property features: Upcoming 3‑story professional office building totaling approximately 41,207 SF; Planned delivery in grey shell condition; Site will be located on the NEC of W. Sunset Road and S. Tenaya Way
