Mixed-Use Building with Income
For Sale
Contact for pricing
901 Stewart Ave, Las Vegas, NV 89101
Versatile building with seating for 120 plus income property.
Property Size2,650 SF
Lot Size0.19 Acres
Price / SF$358.49
Days on Market729
Property Features for 901 Stewart Ave
General Information
Standard status
Active
Size
2,650 SF
Lot size
0.19 Acres
Property subtype
Mixed Use, Special Purpose
Zoning
T5 MS
Building Details
Year Built
1949
Year Renovated
2020
Buildings
3
Stories
1
Listing Agency:
Griffis Realty Investments
(702) 406-6867
Listed By:
Joe Griffis · License #NV 0077170
Source:
Crexi
Added: Aug 13, 2024
Changed: Aug 8
Last Checked: Aug 11 at 4:06PM
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 Griffis Realty Investments
Investment Insights
Based on property information with market context.
This mixed-use property features a building with a wide-open layout that can seat approximately 120 people. Adjacent to this is a triplex, offering potential for additional income or use as kitchen space, classrooms, or storage. A mobile office is also present, providing further options for classrooms or office space. The total area of both parcels is 2,650 square feet, situated on 0.19 acres. The layout of the property allows for various different uses.
Key Highlights
- Two properties on two separate parcels included in the sale.
- Versatile layout suitable for various uses.
- Existing building seats +/- 120 people.
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
$40,008
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
4.21%
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%
$800,160
$800.2K
Cap Rate 7%
$571,543
$571.5K
Cap Rate 9%
$444,533
$444.5K
Market Conditions
NOI Build-Up for 2,650 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
$70.0K $26.40/SF
− Vacancy
−$5.9K −$2.24/SF
EGI
$64.0K $24.16/SF
− OpEx
−$24.0K −$9.06/SF
NOI
$40.0K $15.10/SF
Area
Las Vegas, NV
Vacancy
8.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
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%
$800,160
Cap Rate 7%
$571,543
Cap Rate 9%
$444,533
Alternative Uses
Best Use
Mixed Use
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 4.21%
Second Best
Multifamily LT 5
$435.7K
$381.3K – $508.4K
NOI $30,502 @ 7.0% cap · market cap 3.21%
Theoretical Best
Specialty Retail
$915.7K
$801.2K – $1.07M
NOI $64,098 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,090
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile building with seating for 120 plus income property.
Where is this mixed-use property located?
The property is located at 901 Stewart Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two properties on two separate parcels included in the sale.; Versatile layout suitable for various uses.; Existing building seats +/- 120 people.
