Modern Office Building Near
For Sale
Contact for pricing
Pending
3470 E Russell Rd, Las Vegas, NV 89120
Two-story office building with rentable space near Harry Reid Airport.
Property Size11,310 SF
Days on Market721
Property Features for 3470 E Russell Rd
General Information
Standard status
Pending
Size
11,310 SF
Property subtype
Office
Building Details
Year Built
2003
Listing Agency:
SVN | The Equity Group
(702) 369-4811
Listed By:
Paul Chaffee · License #NV 1000874
Source:
Crexi
Added: Aug 12, 2024
Changed: Jul 6
Last Checked: Aug 1 at 12:22PM
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 SVN | The Equity Group
Investment Insights
Based on property information with market context.
The property at 3470 E Russell Road is a modern-style, two-story office building offering approximately 9,430 square feet of rentable space within a total property size of 11,310 square feet. The building is strategically located minutes from Harry Reid International Airport. It features 12 offices, conference rooms, a reception area, storage and utility rooms, and a break room. The building also includes an elevator and 17 parking spaces. This property is suitable for an owner-user.
Key Highlights
- Strategic location minutes from Harry Reid International Airport
- Approximately 9,430 SF of versatile and rentable space suitable for an owner‑user
- Modern‑style, luxury two‑story office building
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $271.4k | $24.00 |
| − Vacancy | −$39.4k | −$3.48 |
| EGI | $232.1k | $20.52 |
| − OpEx | −$58.0k | −$5.13 |
| NOI | $174.1k | $15.39 |
11,310 SF · lease $24.00/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.90M
NOI $174,061 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,566 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 89120, NV
24,813
Population
9,861
Households
2.5
Avg Household Size
40
Median Age
26%
College-Educated
88%
High-School Grad
7.1 sq mi
ZIP Area
3,495
Density / Sq Mi
$75,813
Median Household Income
$38,774
Median Earnings
$1,467
Median Rent
$364,800
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with rentable space near Harry Reid Airport.
Where is this office building located?
The property is located at 3470 E Russell Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Strategic location minutes from Harry Reid International Airport; Approximately 9,430 SF of versatile and rentable space suitable for an owner‑user; Modern‑style, luxury two‑story office building
