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2200 Rancho Dr Las Vegas, NV 89102

For Sale
$16,300,000

125,884 SF, 87% Occupancy, High NOI

Property size:
125,884 SF

Description

Added:
Dec 11, 2024
Days on Market:
369
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.
  • 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.
  • 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.
Property Profile Location Intelligence

Current Use by Public Records

Appeals Office State Government Office AMS Center Medical Center Concentra Advanced Specialists Physical Therapist Manual Therapy Consultants Physical Therapist Attorney For Injured Workers State Government Office

Suggested Use

Realty agency Law Firm Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Clothing Store Daycare Center Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Las Vegas
County
Clark
State
Nevada
Longitude
-115.1726583
Latitude
36.1468703

FAQs

What type of property is this?
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.
More about this property
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