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    6264 E Tropical Pkwy Las Vegas, NV 89115

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    Industrial units for lease near Las Vegas Motor Speedway.

    Type:Industrial
    Added:
    Aug 13, 2021
    Days on Market:
    1706
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 6264 E Tropical Pkwy

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    2008

    Spaces For Lease

    at 6264 E Tropical Pkwy Contact us

    6260 $1.30 /Mo

    Size
    11,460 SF
    Type
    Industrial
    +/- 11,460 Total SFn+/- 840 Office SFn+/- 9,820 Warehouse SFn+/- 800 Mezzanine SFn24...
    show more
    Contact us

    6254 $1.30 /Mo

    Size
    11,460 SF
    Type
    Industrial
    +/- 11,460 Total SFn+/- 840 Office SFn+/- 9,820 Warehouse SFn+/- 800 Mezzanine SFn24...
    show more
    Contact us

    We can help!

    Listing Contact
    Craig Summers

    Listing agent Craig Summers License #NV S.0077796

    Listing office Gatski Commercial

    Listing date Aug 13, 2021

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Gatski Commercial

    Overview

    Industrial Units in Speedway Business Park

    Venture Point Speedway Business Park provides industrial units available for lease. The property is zoned M-2. Each unit includes finished office space with a storage mezzanine, a warehouse equipped with evaporative coolers and lighting, a clearance height of 24 feet, and a calculated sprinkler system. The business park is situated adjacent to the Las Vegas Motor Speedway (LVMS) and Interstate (I-15) freeway. Its location provides access within fifteen minutes to both The Las Vegas Strip and Harry Reid International Airport.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.22917
    Latitude
    36.268932

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    FAQs

    What type of property is this?
    Warehouse - Industrial units for lease near Las Vegas Motor Speedway.
    Where is this warehouse located?
    The property is located at 6264 E Tropical Pkwy Las Vegas, NV.
    What are key features of this property?
    This property features: Strategic Location: Next to Las Vegas Motor Speedway (LVMS) and Interstate (I‑15) freeway.; Proximity to Key Destinations: Within 15 minutes of The Las Vegas Strip and Harry Reid International Airport.; Functional Warehouse Space: Includes evaporative coolers, lighting, and 24’ clearance height.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Craig Summers
    Real Estate License ID: NV S.0077796
    Learn More
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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
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