Commercial Property on Eastern
For Sale
Contact for pricing
Pending
3847 S Eastern Ave, Las Vegas, NV 89169
Commercial property with C-P zoning, suitable for office or retail.
Property Size4,600 SF
Days on Market1005
Property Features for 3847 S Eastern Ave
General Information
Standard status
Pending
Size
4,600 SF
Class
B
Total Parking Spaces
12
Property subtype
Office
Zoning
CE
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1978
Year Renovated
2023
Buildings
1
Stories
2
Units
1
Listing Agency:
International Realty LV
(702) 248-1818
Listed By:
Lawrence Strychalski · License #NV B.1003087
Source:
Crexi
Added: Nov 30, 2023
Changed: Aug 17
Last Checked: Aug 29 at 11:23PM
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 International Realty LV
Investment Insights
Based on property information with market context.
The property, currently operating as a house with a swimming pool and a jacuzzi, is zoned C-P (commercial professional) and suitable for office or retail use. It is located on Eastern Avenue, a major street, and is very close to Flamingo Avenue. The location is central, with an 8-minute drive to the airport and a 5-minute drive to the Las Vegas Strip. The property is situated on the west side of Eastern Avenue, north of Flamingo Road. The property size is 4,600 square feet.
Key Highlights
- Commercial zoning (C‑P) allows for office or retail use.
- Excellent central location: 8 minutes to the airport, 5 minutes to the Las Vegas Strip.
- Owner financing available with 35% down payment.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,794
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,880
$1.4M
Cap Rate 7%
$1,011,343
$1.0M
Cap Rate 9%
$786,600
$786.6K
Market Conditions
NOI Build-Up for 4,600 SF
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.
Gross rent
$110.4K $24.00/SF
− Vacancy
−$16.0K −$3.48/SF
EGI
$94.4K $20.52/SF
− OpEx
−$23.6K −$5.13/SF
NOI
$70.8K $15.39/SF
Area
Las Vegas, NV
Vacancy
14.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,880
Cap Rate 7%
$1,011,343
Cap Rate 9%
$786,600
Alternative Uses
Best Use
Retail
$1.48M
$1.30M – $1.73M
NOI $103,847 @ 7.0% cap · market cap 13.06%
Second Best
Office B
$1.01M
$884.9K – $1.18M
NOI $70,794 @ 7.0% cap · market cap 8.90%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,265 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,880
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89169, NV
25,938
Population
14,070
Households
1.8
Avg Household Size
36
Median Age
19%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
7,629
Density / Sq Mi
$39,740
Median Household Income
$32,457
Median Earnings
$1,159
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Office in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- R&R T3K — 4463 Los Reyes Ct, Las Vegas, NV 89121
- Top Wireless — 1555 E Flamingo Rd, Las Vegas, NV 89119
- Tellgate Computers — 1555 E Flamingo Rd Ste 234, Las Vegas, NV 89119
- My Virtual Talent — 1555 E Flamingo Rd suite 108, Las Vegas, NV 89119
- Communication Services II Inc — 1771 E Flamingo Rd STE 118B, Las Vegas, NV 89119
Frequently Asked Questions
What type of property is this?
Office space - Commercial property with C-P zoning, suitable for office or retail.
Where is this office space located?
The property is located at 3847 S Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Commercial zoning (C‑P) allows for office or retail use.; Excellent central location: **8 minutes to the airport, 5 minutes to the Las Vegas Strip.**; Owner financing available with 35% down payment.
