This exceptional investment opportunity presents two Class B office buildings totaling 125,884 net rentable square feet, situated on a 2.23-acre lot in Las Vegas, NV. Built in 1980 and 2004, the property boasts a strong 87% occupancy rate and a substantial net operating income (NOI) of $1,302,602, yielding an 8.00% cap rate. The asking price is $16,300,000, translating to $129.48 per square foot. The property features a diverse tenant mix, including legal firms, State of Nevada agencies, healthcare providers, a trade school, and unions, offering a stable and diversified income stream with built-in annual rent increases. Its prime location offers convenient access to I-15 freeway at Sahara Avenue, placing it within close proximity to Downtown Las Vegas, the Las Vegas Strip, and Harry Reid International Airport. The property is adjacent to the Las Vegas Medical District, a burgeoning hub of healthcare services, including major hospitals, medical schools, and dental schools. This presents a significant value-add opportunity through potential medical office conversion, capitalizing on the strong and growing demand for medical office space in the area. The property's proximity to the Regional Justice Center and other federal courts further enhances its appeal. The surrounding area offers abundant amenities, including dining, retail, hotels, and banking services. This is a rare chance to acquire a well-positioned, cash-flowing asset with significant upside potential.
Property Features for 2200 Rancho Dr
General Information
Property type
Office Properties & Spaces
Square Feet
125,884 SF
Class
B
Lot Size
97,139 SF
Building Details
Buildings
2
Stories
2
HighLights
Two Class B office buildings totaling 125,884 net rentable square feet on a 2.23‑acre lot in Las Vegas, NV.
Strong tenant mix including legal, state agencies, healthcare, and education, providing stable income with built‑in rent increases.
Prime location near I‑15 and Sahara Avenue, minutes from Downtown Las Vegas, the Strip, and Harry Reid International Airport, adjacent to the Las Vegas Medical District.
Office Property / Space - 125,884 SF, 87% Occupancy, High NOI
Where is this office property / space located?
The property is located at 2200 Rancho Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $16,300,000.
What are key features of this property?
This property features: Two Class B office buildings totaling 125,884 net rentable square feet on a 2.23-acre lot in Las Vegas, NV.; 87% occupancy, $1,302,602 NOI, 8.00% cap rate, $16,300,000 asking price ($129.48/SF).; Strong tenant mix including legal, state agencies, healthcare, and education, providing stable income with built-in rent increases.
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2200 Rancho Dr Las Vegas, NV 89102
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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
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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.
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2200 Rancho Dr Las Vegas, NV 89102
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2200 Rancho Dr, Las Vegas, NV
Michael Hsu
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2200 Rancho Dr, Las Vegas, NV
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