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    Property profile & analytics

    2080 Flamingo Rd Paradise, NV 89119

    • Office buildings
    • 92,930 SF
    • 3.94 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    $1,385,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0228198
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Flamingo Professional Center / Medical Office / Medical Center
    • Lindsey Proia / Physical Therapist
    • Las Vegas Field & Focus / Market Researcher
    • Genex Services Inc / Physical Therapy Clinic
    • Wardley Real Estate / Real Estate Agent

    Property Details for 2080 Flamingo Rd

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.94 lot acres
    Property size
    92,930 SF
    Property type
    Office buildings
    APN
    162-14-815-001
    APU
    16214815001

    Description

    This exceptional Las Vegas office property, the Flamingo Professional Center, offers 91,733 square feet of versatile space across two three-story buildings situated on a 4.25-acre lot (185,130 sq ft). Located in the desirable East Flamingo Office Corridor at 2080 E. Flamingo Rd., this Class B property boasts a prime location, directly across from Desert Springs Hospital and on the signalized corner of Flamingo Rd. and Burnham Ave. Built in 1985 and renovated in 2020, the center features 12 suites, with spaces ranging from 1,387 to 5,061 contiguous square feet, and a total of 32,700 square feet currently vacant. Amenities include ample parking (451 spaces), 10-foot ceilings, and a C-2 zoning designation. The property's diverse tenant mix includes medical, executive, creative, and traditional office spaces, as well as several government agencies. With its convenient location, modern updates, and flexible space options, the Flamingo Professional Center presents a compelling opportunity for businesses seeking a prominent presence in the thriving Las Vegas market. The property's parcel numbers are 162-14-815-001 & 002. The building has a 0.5 FAR.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,385,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.124
    Latitude
    36.1157
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $63,556
    $660,760
    $3,082,900
    $3,743,660
    -
    $1,887,886
    $8,808,286
    $10,696,172

    Comparable in this City

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      2215 Renaissance Dr

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      175 Reno Ave Ste C8

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      175 Reno Ave Ste C7

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    • Value Estimation
      $305,000
      4,392 SF

      175 Reno Ave Ste C4

      PROFESSIONAL BUILDING • 4,392 SF
      175 Reno Ave Ste C4, Las Vegas, NV 89119-1102
      View Details
    • Value Estimation
      $1,285,000
      35,935 SF

      222 Via Marnell Way

      OFFICE BUILDING • 35,935 SF
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      View Details

    Similar Nearby for Sale

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      Las Vegas Office Building Opportunity

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      12,472 SF office building with leasing and parking income.
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    • $1,200,000
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      Las Vegas Office Building For Sale

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    Similar Nearby for Lease

    • $5,375,000
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      Two-Story Office Building Available

      Professional office building with high visibility and convenient access.
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    • $24 SF/Yr
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      Flamingo Road Retail Space

      Las Vegas Showroom, 1650 SF Available
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    • $21 SF/Yr
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      Las Vegas Office Space: 8,186 SF

      Prime Las Vegas office, single tenant, near McCarran Airport.
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    • $7,156 /Mo
      3,525 SF

      Professional Office Space Near Strip

      Well-appointed office space in prime Las Vegas location.
      195 E Reno Ave, Las Vegas, NV 89119
      View Details
    • $1.40 SF/Yr
      6,849 SF

      Flamingo Road Office Space Available

      Office space near Sunrise Hospital, ideal for medical or professional uses.
      1670 East Flamingo Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      1,902 SF

      Office Space Available For Rent

      1902 square feet of office space for rent.
      4275 S Burnham Ave, Las Vegas, NV 89119
      View Details
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    2080 Flamingo Rd
    Paradise, NV 89119
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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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