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    228 4Th St Las Vegas, NV 89101

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    ±13,852 SF Executive Office, Redevelopment Opportunity

    Property size:
    13,852 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This three-story, ±13,852 square foot Class B office building in downtown Las Vegas, NV (APN 139-34-210-079) presents a unique investment opportunity. Built in 1963 and situated on a 0.41-acre lot (C-2 zoning), the property is currently 70% occupied, primarily by law firms. The second floor boasts recently renovated, upgraded finishes. The seller, an existing tenant, offers flexibility in lease terms, allowing for owner-occupancy or continued income generation. Development potential is significant, with existing plans for a 23-story, ±405,500 square foot boutique hotel available to the purchaser. The building benefits from 39 on-site parking spaces (2.82:1,000 SF ratio), a rare amenity in the downtown core, plus additional income from parking and a rooftop antenna lease (five-year term with options). Its prime location offers easy access to the I-15 and US-95/I-515 freeways, the Fremont Street Experience, the Arts District, and numerous downtown amenities. The lack of new office construction in the submarket creates a barrier to entry, making this a compelling investment for owner-users, investors, or developers seeking a prime downtown Las Vegas location. The building's classic 1960s design and attractive interior finishes, including second-floor balconies, add to its appeal.

    Property Features for 228 4Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    13,852 SF
    Class
    B
    Lot Size
    17,860 SF

    Building Details

    Year Built
    1963
    Buildings
    1
    Stories
    3

    HighLights

    • Prime downtown Las Vegas location near courthouses and Fremont Street Experience.
    • Excellent freeway access (I‑15, US‑95/I‑515) and proximity to Downtown amenities, including the Arts District and Premium Outlets.
    • Stable income from parking and a long‑term rooftop antenna lease.
    • 39 on‑site parking spaces (2.82:1,000 SF ratio), a rare amenity in the downtown area.
    • Limited new office construction in Downtown Las Vegas creates a strong barrier to entry for competitors.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Law Offices of Benjamin ... Criminal Justice Attorney Hofland & Tomsheck Criminal Justice Attorney Hofland Bradley J Attorney Dennie Law Offices Law Firm Cramer Law Firm Law Firm

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1434527
    Latitude
    36.1678182

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    FAQs

    What type of property is this?
    Office Property / Space - ±13,852 SF Executive Office, Redevelopment Opportunity
    Where is this office property / space located?
    The property is located at 228 4Th St Las Vegas, NV.
    What are key features of this property?
    This property features: Prime downtown Las Vegas location near courthouses and Fremont Street Experience.; Excellent freeway access (I-15, US-95/I-515) and proximity to Downtown amenities, including the Arts District and Premium Outlets.; Stable income from parking and a long-term rooftop antenna lease.
    Request Owner's contact information
    228 4Th St Las Vegas, NV 89101
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    Las Vegas, NV 89101
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    Realmo Value Estimation

    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.

    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.

    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
    228 4Th St Las Vegas, NV 89101
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