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    The Largest CRE Database in the US with Over 1 Million Listings

    871 Grier Dr Las Vegas, NV 89119

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    For Lease
    $17 SF/Yr

    High-power flex space, ideal data center

    Lot size:
    52,676 SF

    Property Features for 871 Grier Dr

    General Information

    Property type
    Life science properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    52,676 SF
    Class
    B
    Total Rate
    76380.2

    Building Details

    Year Built/Renovated
    1986/1986

    Spaces For Lease

    at 871 Grier Dr, Las Vegas, NV 89119 Contact us
    Unit Suite A - Las Vegas Data Center

    $17 /Mo

    Size
    17,360 SF
    Contact us

    We can help!

    Listing Contact
    Geoffrey West
    Geoffrey West

    Listing Agency: Lee & Associates Reno Listing Agent: Geoffrey West

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

    Learn more

    Property Insight Report

    Overview

    This 52,676 square foot multi-tenant property, located at 871 Grier Dr, Las Vegas, NV 89119, presents a unique opportunity. Situated in the Airport submarket on a 3.36-acre lot (APN 177-03-510-008), this Class B building, constructed in 1986 and renovated the same year, offers 17,360 square feet of vacant space. The property boasts impressive features including ±22’ - ±24’ ceiling heights, four loading docks, and two drive-ins. Power is substantial, with 1,200 amps of 277/480V, 3-phase power. The zoning is IL. Previously used as a telecommunications switch facility, the building includes existing infrastructure and equipment such as Liebert CRAC units, Vertiv Liebert EXM UPS, FM-200 Clean Agent fire suppression tanks and panel system, a 1000kW Caterpillar diesel generator, and a 6,000-gallon diesel storage tank. The extensive buildout includes open and perimeter offices, a break room, switch room, interconnector room, battery room, and an internal secured loading dock. Over 180 tons of HVAC are in place. The property is currently vacant and requires advance scheduling for tours.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Preferred Homecare Home Health Care Service PDS Gaming, LLC Financial Advisor Sprint Switch Corporate Office FOUNDERS HEALTHCARE, LLC Production Facility Sisu Healthcare Solutions Home Health Care Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.14330638978
    Latitude
    36.068810082368

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    FAQs

    What type of property is this?
    Life science property - High-power flex space, ideal data center
    Where is this life science property located?
    The property is located at 871 Grier Dr Las Vegas, NV.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 52,676 SF multi-tenant building on a 3.36-acre lot in Las Vegas' Airport submarket.; Class B building, built in 1986, renovated same year, with 17,360 SF of vacant space.; Features include ±22' - ±24' ceiling heights, four loading docks, two drive-ins, 1,200 amps of 277/480V, 3-phase power, and IL zoning.
    Request Owner's contact information
    871 Grier Dr Las Vegas, NV 89119
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    Las Vegas, 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
    871 Grier Dr Las Vegas, NV 89119
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    Listing Contact
    Geoffrey West
    Geoffrey West
    Real Estate License ID: BS.0044998
    Learn more
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