Office Building with Multiple
For Sale
Contact for pricing
901 East Tropicana Avenue, Las Vegas, NV 89119
CG-zoned office property with multiple offices, restrooms, and HVAC cooling.
Property Size3,355 SF
Lot Size1.23 Acres
Price / SF$208.49
Days on Market14
Property Features for 901 East Tropicana Avenue
General Information
Standard status
Active
Size
3,355 SF
Total Parking Spaces
8
Lot size
1.23 Acres
Property subtype
Retail, Office
Zoning
CG
Building Details
Year Built
1961
Buildings
1
Units
1
Listing Agency:
North American Commercial
Listed By:
Kevin Jackson · License #NV S.0191427
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 11 at 5:44PM
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 North American Commercial
Investment Insights
Based on property information with market context.
This office building offers approximately 3,355 square feet on approximately 0.23 acres, with multiple private office areas, restrooms, and HVAC cooling. Built in 1961, the property provides an established commercial layout suited to office occupancy.
The building fronts Tropicana Avenue and is located across from UNLV in Las Vegas. CG zoning supports its commercial classification, while the property’s avenue location places it along a roadway serving daily drivers in the surrounding submarket.
The building fronts Tropicana Avenue and is located across from UNLV in Las Vegas. CG zoning supports its commercial classification, while the property’s avenue location places it along a roadway serving daily drivers in the surrounding submarket.
Key Highlights
- Approximately 3,355 square feet on approximately 0.23 acres
- Multiple offices with restrooms and HVAC cooling
- CG zoning
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
$51,633
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
7.38%
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%
$1,032,660
$1.0M
Cap Rate 7%
$737,614
$737.6K
Cap Rate 9%
$573,700
$573.7K
Market Conditions
NOI Build-Up for 3,355 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
$80.5K $24.00/SF
− Vacancy
−$11.7K −$3.48/SF
EGI
$68.8K $20.52/SF
− OpEx
−$17.2K −$5.13/SF
NOI
$51.6K $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%
$1,032,660
Cap Rate 7%
$737,614
Cap Rate 9%
$573,700
Alternative Uses
Best Use
Office B
$737.6K
$645.4K – $860.6K
NOI $51,633 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,151 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
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 - CG-zoned office property with multiple offices, restrooms, and HVAC cooling.
Where is this office building located?
The property is located at 901 East Tropicana Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Approximately 3,355 square feet on approximately 0.23 acres; Multiple offices with restrooms and HVAC cooling; CG zoning
