SimonMed Imaging Center
For Sale
$2,900,000
7610 W Cheyenne Ave., Las Vegas, NV 89129
Single-tenant medical office building with long-term lease in Las Vegas.
Property Size7,468 SF
Price / SF$388.32
Days on Market169
Property Features for 7610 W Cheyenne Ave.
General Information
Standard status
Active
Size
7,468 SF
Property subtype
8/31/2026
Building Details
Building Size
7,468 SF
Year Built
2026
Listing Agency:
Cushman & Wakefield | Las Vegas
Listed By:
Marlene Fujita · License #S.0054013
(702) 688-6884
Source:
Cushmanwakefield
Added: Mar 26
Changed: Sep 5
Last Checked: Sep 9 at 5:54AM
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 Cushman & Wakefield | Las Vegas
Investment Insights
Based on property information with market context.
The property available for acquisition is a single-tenant SimonMed Imaging center, situated at 7610 W. Cheyenne Ave. This property is one of nine buildings within Cheyenne Corporate Center, a mixed-use campus that includes office, medical office, and retail tenants. SimonMed Imaging, Inc., the tenant, is an outpatient imaging provider based in Scottsdale, AZ, with approximately 170 locations nationwide. Established over 20 years ago, SimonMed offers a range of medical imaging services, including MRI, CT, X-ray, ultrasound, and mammography. The services provided are classified as essential and are generally resilient to financial downturns. SimonMed's tenancy began on March 1, 2017, as a subtenant and transitioned to a direct lease on January 1, 2021. They exercised an early extension, amending the renewal term to seven years, reflecting a commitment to Cheyenne Corporate Center and the location's success. The property offers a long-term, stable investment opportunity with passive income and minimal landlord responsibilities. The property size is 7468 square feet.
Key Highlights
- Long‑term, stable investment with passive income and minimal landlord responsibilities.
- SimonMed Imaging, a national outpatient imaging provider with approximately 170 locations, is the tenant.
- Tenant commitment demonstrated by early lease extension to a seven‑year renewal term.
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
$114,933
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
3.96%
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%
$2,298,660
$2.3M
Cap Rate 7%
$1,641,900
$1.6M
Cap Rate 9%
$1,277,033
$1.3M
Market Conditions
NOI Build-Up for 7,468 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
$179.2K $24.00/SF
− Vacancy
−$26.0K −$3.48/SF
EGI
$153.2K $20.52/SF
− OpEx
−$38.3K −$5.13/SF
NOI
$114.9K $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%
$2,298,660
Cap Rate 7%
$1,641,900
Cap Rate 9%
$1,277,033
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $114,933 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$1.41M
$1.24M – $1.65M
NOI $98,936 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,636 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89129, NV
54,067
Population
21,941
Households
2.5
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
5,407
Density / Sq Mi
$87,544
Median Household Income
$48,690
Median Earnings
$1,767
Median Rent
$420,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Las Vegas, NV
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant medical office building with long-term lease in Las Vegas.
Where is this medical office space located?
The property is located at 7610 W Cheyenne Ave. Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Long‑term, stable investment with passive income and minimal landlord responsibilities.; SimonMed Imaging, a national outpatient imaging provider with approximately 170 locations, is the tenant.; Tenant commitment demonstrated by early lease extension to a seven‑year renewal term.
