Multi-Tenant Office
For Sale
$8,300,000
823 S Las Vegas Blvd, Las Vegas, NV 89101
Professional office property with boulevard frontage, existing occupancy, and available suites for immediate use.
Property Size28,354 SF
Price / SF$292.73
Days on Market188
Property Features for 823 S Las Vegas Blvd
General Information
Standard status
Active
Size
28,354 SF
Property subtype
Office
Occupancy
76%
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
4
Building Size
28,354 SF
Tenancy
Multi
Listing Agency:
Las Vegas
Listed By:
Patti Dillon · License #NV-S.0047352
(702) 836-3790
Source:
Colliers
Added: Apr 11
Changed: Oct 10
Last Checked: Oct 14 at 7:32PM
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 Las Vegas
Investment Insights
Based on property information with market context.
This multi-tenant professional office property contains approximately 28,354 square feet and is currently 76% leased. Three vacant suites remain in second-generation condition, offering immediate occupancy within an established office environment. The building includes existing headquarters and office users, including Hardy Painting and Drywall, The Moore Law Group, Reynolds Management, Influential Network, and Tyler Robinson Foundation, Inc.
Direct frontage on Las Vegas Boulevard places the property within walking distance of the Regional Justice Center and the U.S. Federal Courthouse. A roof-mounted cellular tower is leased to AT&T, adding an existing telecommunications component to the property. The available suites and current tenant base support both immediate occupancy and future expansion within the building.
Direct frontage on Las Vegas Boulevard places the property within walking distance of the Regional Justice Center and the U.S. Federal Courthouse. A roof-mounted cellular tower is leased to AT&T, adding an existing telecommunications component to the property. The available suites and current tenant base support both immediate occupancy and future expansion within the building.
Key Highlights
- Approximately 28,354 square feet of multi‑tenant professional office space
- 76% leased to an established roster of office and organizational users
- Three vacant suites in second‑generation condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$436,368
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,727,360
$8.7M
Cap Rate 7%
$6,233,829
$6.2M
Cap Rate 9%
$4,848,533
$4.8M
Market Conditions
NOI Build-Up for 28,354 SF
Gross rent
$680.5K $24.00/SF
− Vacancy
−$98.7K −$3.48/SF
EGI
$581.8K $20.52/SF
− OpEx
−$145.5K −$5.13/SF
NOI
$436.4K $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 Rate 5%
$8,727,360
Cap Rate 7%
$6,233,829
Cap Rate 9%
$4,848,533
Alternative Uses
Best Use
Office B
$6.23M
$5.45M – $7.27M
NOI $436,368 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.80M
$8.57M – $11.43M
NOI $685,825 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
76%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,552
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with boulevard frontage, existing occupancy, and available suites for immediate use.
Where is this office building located?
The property is located at 823 S Las Vegas Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: Approximately 28,354 square feet of multi‑tenant professional office space; 76% leased to an established roster of office and organizational users; Three vacant suites in second‑generation condition
