Vacant Office Building in Las
For Sale
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7710 W Cheyenne Ave, Las Vegas, NV 89129
Vacant office building in established mixed-use corporate center.
Property Size33,980 SF
Price / SF$248
Days on Market788
Property Features for 7710 W Cheyenne Ave
General Information
Standard status
Active
Size
33,980 SF
Class
B
Property subtype
Office
Zoning
C-1
Investment Type
Owner/User
Building Details
Year Built
2000
Buildings
1
Stories
1
Listing Agency:
Cushman & Wakefield - Las Vegas, Nevada
(702) 605-1549
Listed By:
Marlene Fujita · License #S.0054013
Source:
Crexi
Added: Jun 27, 2024
Changed: Aug 12
Last Checked: Aug 22 at 3:52PM
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, Nevada
Investment Insights
Based on property information with market context.
Located within Cheyenne Corporate Center, the property at 7710 W. Cheyenne Ave is a vacant building situated within a mixed-use campus comprising office, medical office, and retail spaces. The campus encompasses approximately 321,245 square feet across nine parcels. The property benefits from the management of common areas by a commercial association. Other occupants within the center include the State of Nevada Physical Therapy Board, Davita, TPx/MPower Communications, and Dennett Winspear Attorneys at Law. The property offers convenient access to US-95, located one mile to the east, and I-215, situated 3.5 miles to the west. The building contains 33,980 square feet and is centrally located for the North, Northwest, and West trade areas.
Key Highlights
- Located within Cheyenne Corporate Center, a mixed‑use campus.
- Minimal management required due to commercial association managing common areas.
- Easy access to US‑95 (1 mile) and I‑215 (3.5 miles).
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
$522,952
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
6.18%
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%
$10,459,040
$10.5M
Cap Rate 7%
$7,470,743
$7.5M
Cap Rate 9%
$5,810,578
$5.8M
Market Conditions
NOI Build-Up for 33,980 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
$815.5K $24.00/SF
− Vacancy
−$118.3K −$3.48/SF
EGI
$697.3K $20.52/SF
− OpEx
−$174.3K −$5.13/SF
NOI
$523.0K $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%
$10,459,040
Cap Rate 7%
$7,470,743
Cap Rate 9%
$5,810,578
Alternative Uses
Best Use
Office B
$7.47M
$6.54M – $8.72M
NOI $522,952 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.74M
$10.27M – $13.70M
NOI $821,907 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
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
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 - Vacant office building in established mixed-use corporate center.
Where is this office building located?
The property is located at 7710 W Cheyenne Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,461,000.
What are key features of this property?
This property features: Located within Cheyenne Corporate Center, a mixed‑use campus.; Minimal management required due to commercial association managing common areas.; Easy access to US‑95 (1 mile) and I‑215 (3.5 miles).
