Freestanding Medical Office
For Sale
Contact for pricing
7355 Prairie Falcon Rd, Las Vegas, NV 89128
Concrete tilt-up construction offers a functional setting for healthcare, laboratory, or professional office use.
Property Size8,600 SF
Lot Size0.75 Acres
Price / SF$330
Days on Market154
Property Features for 7355 Prairie Falcon Rd
General Information
Standard status
Active
Size
8,600 SF
Class
B
Lot size
0.75 Acres
Property subtype
Office
Zoning
C-PB
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Buildings
1
Stories
1
Building Size
8,600 SF
Construction
concrete tilt-up
Listing Agency:
MDL Group
(702) 610-1002
Listed By:
Jarrad Katz, SIOR, CCIM · License #B.0145888.LLC
Source:
Crexi
Added: Mar 30
Changed: Aug 30
Last Checked: Jul 21 at 3:13PM
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.
This freestanding medical office property encompasses ±8,600 SF within a professional business park on a ±0.75-acre parcel. Built in 2004, the concrete tilt-up building has a functional layout and a history of medical and laboratory occupancy. The configuration can support continued healthcare use or traditional professional office operations, with on-site parking serving employees and clients.
Located at 7355 Prairie Falcon Rd in Las Vegas, the property provides quick access to US-95 and is near MountainView Hospital, Downtown Summerlin, and retail and dining along W Lake Mead Blvd and N Rampart Blvd. Its Northwest Las Vegas setting places the building within the area identified as the Northwest Medical District.
Located at 7355 Prairie Falcon Rd in Las Vegas, the property provides quick access to US-95 and is near MountainView Hospital, Downtown Summerlin, and retail and dining along W Lake Mead Blvd and N Rampart Blvd. Its Northwest Las Vegas setting places the building within the area identified as the Northwest Medical District.
Key Highlights
- ±8,600 SF freestanding concrete tilt‑up medical office building
- ±0.75‑acre lot with on‑site parking
- Built in 2004
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
$132,354
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
4.66%
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%
$2,647,080
$2.6M
Cap Rate 7%
$1,890,771
$1.9M
Cap Rate 9%
$1,470,600
$1.5M
Market Conditions
NOI Build-Up for 8,600 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
$206.4K $24.00/SF
− Vacancy
−$29.9K −$3.48/SF
EGI
$176.5K $20.52/SF
− OpEx
−$44.1K −$5.13/SF
NOI
$132.4K $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%
$2,647,080
Cap Rate 7%
$1,890,771
Cap Rate 9%
$1,470,600
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.21M
NOI $132,354 @ 7.0% cap · market cap 4.66%
Second Best
Healthcare Medical
$1.63M
$1.42M – $1.90M
NOI $113,933 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$2.97M
$2.60M – $3.47M
NOI $208,016 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,415
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89128, NV
37,882
Population
16,840
Households
2.2
Avg Household Size
40
Median Age
31%
College-Educated
91%
High-School Grad
6.0 sq mi
ZIP Area
6,314
Density / Sq Mi
$70,641
Median Household Income
$41,581
Median Earnings
$1,621
Median Rent
$378,600
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MVS Pet Care Las Vegas — 7477 W Lake Mead Blvd Suite 200, Las Vegas, NV 89128
- Vegas Shepherd Rescue — 2620 Regatta Dr, Las Vegas, NV 89128
Frequently Asked Questions
What type of property is this?
Medical Office Space - Concrete tilt-up construction offers a functional setting for healthcare, laboratory, or professional office use.
Where is this medical office space located?
The property is located at 7355 Prairie Falcon Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,838,000.
What are key features of this property?
This property features: ±8,600 SF freestanding concrete tilt‑up medical office building; ±0.75‑acre lot with on‑site parking; Built in 2004
