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    1397 Galleria Dr Henderson, NV 89014

    Sponsored
    For Lease
    $16 SF/Yr ($17,992 /Mo)

    Prime Medical Office Suites Available

    Lot size:
    13,328 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class B medical office building, located at 1397 W Galleria Dr in Henderson, Nevada, presents a fantastic opportunity. The single, two-story building, constructed in 1998, offers a total of 13,328 square feet. Currently, there are two available suites, one measuring 1,542 square feet and the other 1,878 square feet, perfect for a variety of medical practices. The property is situated in Clark County, with the APN 178-03-110-012. Its convenient location provides easy access for patients and staff. The building's multiple tenancy structure allows for flexibility and potential for growth. This is an ideal investment for medical professionals seeking established space in a thriving Henderson community. The building's 1998 construction date offers a balance of established infrastructure and potential for modern upgrades. The property's size and layout provide ample space for various medical specialties. The multiple tenancy aspect offers a diverse tenant base, contributing to a stable income stream. This is a rare opportunity to acquire a well-located, established medical office building in a high-demand area. The property's location in Henderson, Nevada, offers a strong demographic profile and excellent access to major transportation routes. This makes it an attractive option for both established and emerging medical practices. The available suites provide immediate occupancy potential, minimizing downtime and maximizing return on investment.

    Property Features for 1397 Galleria Dr

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,328 SF
    Class
    B
    Total Rate
    17992.8

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 201
    Size
    1,878 SF
    Rate per SF
    $16
    Space
    Suite 203
    Size
    1,542 SF
    Rate per SF
    $16

    HighLights

    • Excellent owner/user opportunity with existing income.
    • Class B, 13,328 SF medical office building in Henderson, NV.
    • Convenient access to US‑95 & I‑215.
    • Two suites available for lease: 1,542 SF and 1,878 SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chiropractic Physicians of Las ... Chiropractor Loretta (Lori) Foley, ... Medical Clinic Terri's Paintless Dent ... Auto Dent Removal Service Intermountain Healthcare Galleria ... Medical Clinic KAREN ZAKHARIAN Internist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -115.0469358
    Latitude
    36.0709077

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Suites Available
    Where is this medical office located?
    The property is located at 1397 Galleria Dr Henderson, NV.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Excellent owner/user opportunity with existing income.; Class B, 13,328 SF medical office building in Henderson, NV.; Convenient access to US-95 & I-215.
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    1397 Galleria Dr Henderson, NV 89014
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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.

    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
    1397 Galleria Dr Henderson, NV 89014
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