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    1212 Eastern Ave Las Vegas, NV 89104-2051

    • Office buildings
    • 1,312 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Sep 05, 2024
    $398,000
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    6.4%
    Office buildings
    Location Intelligence
    Property ID
    US62-0054058
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • ROSSANA SERVICES / Tax Preparation Service
    • Luna spa / Spa

    Property Details for 1212 Eastern Ave

    Year built
    1951
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    1,312 SF
    Property type
    Office buildings
    APN
    162-02-517-020
    APU
    16202517020

    Description

    This exceptional 2,400-square-foot single-tenant office building is available for lease in Las Vegas, Nevada. Located at 1212 S Eastern Ave, zip code 89104, this Class C property offers a versatile layout ideal for a variety of professional uses. The building is a one-story structure (APN 162-02-517-020) and features ample parking conveniently located both in front and behind the building. A spacious storage area is situated at the rear of the property, providing additional utility. The flexible floor plan makes it suitable for diverse tenants, including medical practices, accounting firms, legal services, DMV offices, or even a church or charity organization. Its prime location ensures easy access for clients and employees, making it an attractive option for businesses seeking a prominent presence in Las Vegas. This stand-alone building offers the perfect blend of functionality and location, presenting a unique opportunity to establish your business or organization in a thriving area. The property is categorized as a traditional office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $360,000
      6.5%
      $330,000
      7%
      $310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $248,000
      Market price range: $158k - $334k
      AI Estimate
      $249,000
      Market price range: $142k - $331k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.119
    Latitude
    36.1556
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,295
    $20,734
    $24,520
    $45,254
    -
    $59,240
    $70,057
    $129,297

    Comparable in this City

    • Value Estimation
      $270,000
      0.14 Acres

      1914 Sahara Ave

      PROFESSIONAL BUILDING • 0.14 Acres
      1914 Sahara Ave, Las Vegas, NV 89104-3809
      View Details
    • Value Estimation
      $295,000
      0.06 Acres

      Las Vegas, NV 89104

      PROFESSIONAL BUILDING • 0.06 Acres
      Las Vegas, NV 89104
      View Details
    • Value Estimation
      $285,000
      0.22 Acres

      4228 Charleston Blvd

      PROFESSIONAL BUILDING • 0.22 Acres
      4228 Charleston Blvd, Las Vegas, NV 89104-2387
      View Details
    • Value Estimation by Request
      18,480 SF

      953 Sahara Ave, Unit 130

      OFFICE BUILDING • 18,480 SF
      953 Sahara Ave, Las Vegas, NV 89104-3005
      View Details
    • Value Estimation
      $285,000
      1,050 SF

      4000 Charleston Blvd, Unit 102

      OFFICE BUILDING • 1,050 SF
      4000 Charleston Blvd, Las Vegas, NV 89104-6659
      View Details
    • Value Estimation
      $285,000
      1,100 SF

      4000 Charleston Blvd, Unit 116

      OFFICE BUILDING • 1,100 SF
      4000 Charleston Blvd, Las Vegas, NV 89104-6659
      View Details

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    Similar Nearby for Lease

    • $0.80 SF/Yr
      2,440 SF

      Professional Office Space Available

      Office suites available with tenant improvement allowance and parking.
      1785 E Sahara Ave, Las Vegas, NV 89104
      View Details
    • $30 SF/Yr
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      Arts District Office Space

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    • $18 SF/Yr
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      6,000 SF Medical Office Suite in Las Vegas
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      View Details
    • $23 SF/Yr
      11,716 SF

      Office Space Available For Rent

      Office space available for lease in Las Vegas, Nevada.
      7900 W Sahara Ave, Las Vegas, NV 89104
      View Details
    • $30 SF/Yr
      16,664 SF

      4G Plaza Retail Spaces Available

      High-traffic retail spaces, excellent location.
      4235 Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $2.00 SF/Yr
      32,435 SF

      Las Vegas Blvd Retail Center

      Prime Retail Space, Multiple Units Available
      1701 Las Vegas Blvd, Las Vegas, NV 89104
      View Details
    Request Owner's contact information
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    1212 Eastern Ave
    Las Vegas, NV 89104-2051
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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