Las Vegas Office Buildings For
For Sale
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8766 S Maryland Pkwy, Las Vegas, NV 89123
Two office buildings for sale in central Las Vegas.
Property Size5,395 SF
Price / SF$350
Days on Market877
Property Features for 8766 S Maryland Pkwy
General Information
Standard status
Active
Size
5,395 SF
Class
C
Property subtype
Office
Zoning
CP
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
CAST
Listed By:
Steve Neiger · License #NV B.0146583
(702) 592-7187
Source:
Crexi
Added: Apr 15, 2024
Changed: Sep 7
Last Checked: Sep 8 at 5:23AM
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 CAST
Investment Insights
Based on property information with market context.
Scottsdale Plaza in central Las Vegas presents an opportunity to acquire freestanding office buildings, suitable for business owners and investors. The sale includes two office buildings intended for owner-users looking to establish their business in a mixed-use environment. Constructed in 2005, the plaza is zoned Commercial General (CG), permitting both office and retail uses. The location offers amenities such as a Dunkin, Tesla Supercharging Stations, restaurants, and a convenience store, all within walking distance. Ample parking is available, including both covered and uncovered spaces. The property is located one mile from the freeway. The buildings offer a chance to own workspace in a professional, community-focused environment.
Key Highlights
- Opportunity to own freestanding office buildings with existing rental income.
- Prime location in central Las Vegas with high visibility and accessibility.
- Commercial General (CG) zoning allows for flexible office or retail uses.
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
$83,029
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
4.40%
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%
$1,660,580
$1.7M
Cap Rate 7%
$1,186,129
$1.2M
Cap Rate 9%
$922,544
$922.5K
Market Conditions
NOI Build-Up for 5,395 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
$129.5K $24.00/SF
− Vacancy
−$18.8K −$3.48/SF
EGI
$110.7K $20.52/SF
− OpEx
−$27.7K −$5.13/SF
NOI
$83.0K $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%
$1,660,580
Cap Rate 7%
$1,186,129
Cap Rate 9%
$922,544
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $83,029 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,494 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 89123, NV
55,584
Population
25,246
Households
2.2
Avg Household Size
42
Median Age
32%
College-Educated
92%
High-School Grad
10.4 sq mi
ZIP Area
5,345
Density / Sq Mi
$80,992
Median Household Income
$46,838
Median Earnings
$1,641
Median Rent
$424,900
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 - Two office buildings for sale in central Las Vegas.
Where is this office building located?
The property is located at 8766 S Maryland Pkwy Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,888,250.
What are key features of this property?
This property features: Opportunity to own freestanding office buildings with existing rental income.; Prime location in central Las Vegas with high visibility and accessibility.; Commercial General (CG) zoning allows for flexible office or retail uses.
