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    8655 Eastern Ave Las Vegas, NV 89123

    For Sale
    Contact for pricing

    Value-add office/medical building, high visibility.

    Property size:
    22,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 22,400 square foot, single-story Class A office building in Las Vegas, Nevada, presents a compelling value-add investment or owner-user opportunity. Located in a master-planned business park, this property boasts a prime location with over 400 feet of frontage on Eastern Avenue, a major thoroughfare experiencing over 32,000 vehicles daily. Currently 30% occupied with a three-year leaseback from an affiliate of Optum Health (6,800 SF), leaving 15,600 SF vacant. The building, constructed in 2005, sits on a 1.83-acre lot and is zoned Commercial General (CG), allowing for flexibility in future uses. Its strategic location offers easy access to I-215, connecting to major highways, and proximity to Dignity St. Rose Dominican Hospital-Sienna Campus, McCarran International Airport, and the Eastern Avenue retail corridor. The property's high-quality infrastructure and finishes minimize capital investment needs for new tenants. The current below-market rental rate of $113.50/SF presents significant upside potential. The surrounding Eastern Canyon Plaza, with 18 buildings totaling 208,000 square feet, currently shows no vacancies besides this asset, highlighting the area's strong demand. This property offers a variety of business plan options, including light tenant improvements to attract new tenants, conversion to multi-tenant use, or repurposing for various commercial uses such as behavioral health, medical office, educational facilities, or retail.

    Property Features for 8655 Eastern Ave

    General Information

    Property type
    Medical offices
    Square Feet
    22,400 SF
    Class
    A
    Lot Size
    79,715 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Short‑term rental income from a three‑year leaseback with an Optum Health affiliate for 6,800 SF (30% occupancy).
    • Below‑market rental rate of $113.50/SF.
    • 15,600 SF (70%) vacant, ideal for owner‑user occupancy.
    • Building divisible into multiple suites for office, medical, or retail tenants.
    • Located in Eastern Canyon Plaza, a 208,000 SF business park with currently no vacancies (excluding this property).
    • High visibility with approximately 400 feet of frontage on Eastern Avenue, a major thoroughfare with over 32,000 vehicles daily.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CHANG-HOON AHN Family Practice Physician RICHARD ORR Family Practice Physician DANIEL NGUYEN Family Practice Physician RICARDO MANUEL GARATEIX Family Practice Physician DOMINIQUE TAYLOR Internist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -115.11870208318
    Latitude
    36.032603694937

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    FAQs

    What type of property is this?
    Medical office - Value-add office/medical building, high visibility.
    Where is this medical office located?
    The property is located at 8655 Eastern Ave Las Vegas, NV.
    What are key features of this property?
    This property features: Short-term rental income from a three-year leaseback with an Optum Health affiliate for 6,800 SF (30% occupancy).; Below-market rental rate of $113.50/SF.; 15,600 SF (70%) vacant, ideal for owner-user occupancy.
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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
    8655 Eastern Ave Las Vegas, NV 89123
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