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    Downtown Las Vegas Office Condos Title is generated by Realmo AI

    730 S Las Vegas Blvd, Las Vegas, NV 89101

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    Office condos for sale in downtown Las Vegas.

    Type:Office
    Property size:
    5,540 SF
    Price / SF:
    $245/SF
    Added:
    Feb 16, 2023
    Days on Market:
    1202
    Last Refresh:
    May 19 at 9:12 pm

    Property Features for 730 S Las Vegas Blvd

    General Information

    Standard status
    Active
    Size
    5,540 SF
    Property subtype
    Office

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    Mike Young

    Listing agent Mike Young License #B.0146036.LLC

    Listing office IREPLV LLC

    Listing date Feb 16, 2023

    Source Crexi

    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 IREPLV LLC

    HighLights

    • Office condos for sale in Downtown Las Vegas.
    • Located in the heart of downtown at the corner of Gass Avenue and Las Vegas Boulevard.
    • Accessibility to federal & municipal courthouses, the Medical District, Symphony Park, the Arts District, and Fremont Street.
    • First and second floor office condos available.
    • Suites range from ±2,702 to ±4,503 sq. ft.
    • Price is $245 per sq. ft.

    Overview

    Located in the heart of downtown Las Vegas, The Office @ 730 S. Las Vegas Blvd is a 2-story office building with a total area of 40,342 square feet. Situated at the corner of Gass Avenue and Las Vegas Boulevard, the building offers accessibility to federal and municipal courthouses, the Medical District, Symphony Park, the Arts District, and Fremont Street. Office condos are available for sale on both the first and second floors. Available first-floor suites include Suite 101 with 3,679 square feet, Suite 102 with 2,817 square feet, Suite 103 with 2,723 square feet, Suite 105 with 3,259 square feet, and Suite 106 with 3,619 square feet. Available second-floor suites include Suite 201 with 3,662 square feet, Suite 202 with 2,905 square feet, Suite 203 with 2,702 square feet, Suite 204 with 4,503 square feet, Suite 205 with 2,954 square feet, and Suite 206 with 3,742 square feet.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $133.0k $24.00
    − Vacancy −$19.3k −$3.48
    EGI $113.7k $20.52
    − OpEx −$28.4k −$5.13
    NOI $85.3k $15.39
    5,540 SF · lease $24.00/SF/yr · vacancy 14.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.22M
    $1.07M – $1.42M (±1% cap)
    NOI $85,261 @ 7.0% cap · market cap 6.28%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.91M
    $1.68M – $2.23M (±1% cap)
    NOI $134,001 @ 7.0% cap · market cap 9.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gallian Welker & Associates, ... Law Firm Kalma Events LLC Party Supply Store The White Space LV (Bike/Boat/Book/etc) Store Jeremiah Program | LasVegas Charitable Organization

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Restaurant Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.135934
    Latitude
    36.176079

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    FAQs

    What type of property is this?
    Office units - Office condos for sale in downtown Las Vegas.
    Where is this office units located?
    The property is located at 730 S Las Vegas Blvd Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $1,357,300.
    What are key features of this property?
    This property features: Office condos for sale in Downtown Las Vegas.; Located in the heart of downtown at the corner of Gass Avenue and Las Vegas Boulevard.; Accessibility to federal & municipal courthouses, the Medical District, Symphony Park, the Arts District, and Fremont Street.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Young
    Real Estate License ID: B.0146036.LLC
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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