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    7251 Lake Mead Blvd Las Vegas, NV 89128

    Sponsored
    For Lease
    $22 SF/Yr

    Prestigious Class A office space, flexible options.

    Lot size:
    15,748 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional Class A office building, located in the Bank of Nevada Complex in Northwest Las Vegas, offers a variety of workspace solutions. The 15,748 square foot building boasts 350 suites, with 5,970 square feet currently available. Spaces range from a minimum of 10 square feet to a maximum contiguous space of 1,300 square feet, catering to businesses of all sizes. The building underwent renovations in 2019 and features modern amenities including elevators. Enjoy the convenience of fully furnished and equipped private offices, customizable to your specific needs, including serviced, custom, disaster recovery, and day office options. A comprehensive benefits program offers exclusive discounts and procurement support. Collaboration is encouraged in the thoughtfully designed coworking spaces, featuring dedicated desks and hot-desking options. State-of-the-art meeting rooms are available for presentations, interviews, or workshops, complete with advanced technology and catering services. A stunning boardroom with mountain views and a videoconferencing studio are also available. The building's prime location offers easy access to McCarran International Airport (just 15 miles away) and a variety of nearby restaurants and shops. Virtual office options are also available, providing a professional business address with mail forwarding and call answering services. Multiple membership options provide flexibility to suit various work styles, with access to a global network of locations. This is a truly unique opportunity to establish your business in a prestigious and convenient location.

    Property Features for 7251 Lake Mead Blvd

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,748 SF
    Class
    A
    Total Rate
    29291.28

    Building Details

    Year Renovated
    2019

    Unit(s) available at that property

    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $78
    Space
    Private office for 2 people
    Size
    538 SF
    Rate per SF
    $63
    Space
    Coworking space
    Size
    328 SF
    Rate per SF
    $31
    Space
    Virtual office
    Size
    54 SF
    Rate per SF
    $248
    Space
    Flexible coworking membership
    Size
    108 SF
    Rate per SF
    $22
    Space
    Flexible office membership
    Size
    108 SF
    Rate per SF
    $27
    Space
    Private office for 3 people
    Size
    646 SF
    Rate per SF
    $75
    Space
    Private office for 4 people
    Size
    646 SF
    Rate per SF
    $74
    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $156
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $69
    Space
    Private office for 5 people
    Size
    807 SF
    Rate per SF
    $74

    HighLights

    • Class A, 15,748 SF office building in Clark County, Nevada, renovated in 2019.
    • Multiple tenancy options available, ranging from 10 SF to 1,300 contiguous SF, with 5,970 SF currently vacant. Building features 350 total suites.
    • Offers executive suites, coworking spaces, and creative office solutions. Amenities include elevators and on‑site meeting rooms.
    • Prestigious location in the Bank of Nevada Complex, northwest Las Vegas, near McCarran International Airport.
    • Provides fully furnished private offices, coworking spaces, meeting rooms, and virtual office options.
    Property Profile Location Intelligence

    Current Use by Public Records

    SouthWestern Windshields, Inc. Auto Glass Shop Flagstar Bank Home ... Mortgage Lender Chris Slade Spirit ... Jewelry Store MicroSurvey Software Inc. Software Company First Liberty Power ... Software Company

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.2502798
    Latitude
    36.1954328

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    FAQs

    What type of property is this?
    Office space - Prestigious Class A office space, flexible options.
    Where is this office space located?
    The property is located at 7251 Lake Mead Blvd Las Vegas, NV.
    What is the lease rate?
    The lease rate is $22-$248 SF/Yr.
    What are key features of this property?
    This property features: Class A, 15,748 SF office building in Clark County, Nevada, renovated in 2019.; Multiple tenancy options available, ranging from 10 SF to 1,300 contiguous SF, with 5,970 SF currently vacant. Building features 350 total suites.; Offers executive suites, coworking spaces, and creative office solutions. Amenities include elevators and on-site meeting rooms.
    Request Owner's contact information
    7251 Lake Mead Blvd Las Vegas, NV 89128
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    Las Vegas, NV 89128
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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
    7251 Lake Mead Blvd Las Vegas, NV 89128
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