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    1551 Commerce St Las Vegas, NV 89102

    Sponsored
    For Lease
    $39 SF/Yr

    10 Suites, 649-13,220 SF, Renovated

    Lot size:
    13,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Downtown Las Vegas commercial property, located at 1551 S Commerce St, offers 13,220 square feet of retail and special purpose space across ten suites. The building, situated on a 0.21-acre lot (APN 162-03-210-008), is undergoing a complete renovation, transforming its appearance and functionality. Improvements include a new elevator, updated staircases, and a striking new exterior façade featuring glass storefront doors and windows. The interior is also being completely modernized, with all new infrastructure. Suite sizes range from a minimum of 649 square feet to a maximum contiguous space of 13,220 square feet. The two-story building, constructed in 1975 and renovated in 2004, boasts a Class B rating and is zoned Commercial Industrial (CM). The ground floor features two approximately 3,000 square foot spaces, while the second floor offers studio, creative, and office spaces ranging from approximately 650 to 1,749 square feet. This prime location in the Downtown Las Vegas submarket, near Wyoming Ave, benefits from the surrounding revitalization efforts, including new businesses and residential developments. The property's strategic location and extensive renovations make it an ideal investment opportunity.

    Property Features for 1551 Commerce St

    General Information

    Property type
    Specialty properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,220 SF
    Class
    B
    Total Rate
    42965

    Building Details

    Year Built/Renovated
    1975/2004
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 100
    Size
    2,856 SF
    Rate per SF
    $39
    Space
    Suite 110
    Size
    3,351 SF
    Rate per SF
    $39
    Space
    Suite 200
    Size
    1,749 SF
    Rate per SF
    $42
    Space
    Suite 210
    Size
    806 SF
    Rate per SF
    $42
    Space
    Suite 220
    Size
    700 SF
    Rate per SF
    $42
    Space
    Suite 230
    Size
    650 SF
    Rate per SF
    $42
    Space
    Suite 240
    Size
    649 SF
    Rate per SF
    $42
    Space
    Suite 250
    Size
    698 SF
    Rate per SF
    $42
    Space
    Suite 260
    Size
    781 SF
    Rate per SF
    $42
    Space
    Suitte 270
    Size
    980 SF
    Rate per SF
    $42

    HighLights

    • Completely renovated building with new plumbing, electrical, roof, HVAC, and exterior.
    • Modern exterior featuring a glass storefront.
    • New interior staircases and elevator.
    • Potential for outdoor patio.
    • Building signage opportunities available.
    • Located in a rapidly developing area with new multifamily and retail construction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Uplift Solar Solar Energy Equipment Supplier Weekend Emergency Assistance ... Food Bank Dream Up Hair ... Hair Salon 702 Vintage Antique Store Circadian Gallery Art Gallery

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.15540626462
    Latitude
    36.152958937482

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    FAQs

    What type of property is this?
    Specialty property - 10 Suites, 649-13,220 SF, Renovated
    Where is this specialty property located?
    The property is located at 1551 Commerce St Las Vegas, NV.
    What is the lease rate?
    The lease rate is $39-$42 SF/Yr.
    What are key features of this property?
    This property features: Completely renovated building with new plumbing, electrical, roof, HVAC, and exterior.; Modern exterior featuring a glass storefront.; New interior staircases and elevator.
    Request Owner's contact information
    1551 Commerce St Las Vegas, NV 89102
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    Las Vegas, NV 89102
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    Realmo Value Estimation

    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.

    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.

    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
    1551 Commerce St Las Vegas, NV 89102
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