Ground-Floor Office
For Sale
Contact for pricing
9960 W CHEYENNE AVE, Las Vegas, NV 89129
Ground-floor office suite with reception, waiting room, conference room, six windowed offices, cubicles, and two entrances.
Property Size2,550 SF
Price / SF$431.37
Days on Market44
Property Features for 9960 W CHEYENNE AVE
General Information
Standard status
Active
Size
2,550 SF
Class
A
Property subtype
Retail
Zoning
City of Las Vegas Planned Development (PD)
Investment Type
Owner/User
Building Details
Year Built
2002
Stories
2
Units
1
Listing Agency:
SVN | The Equity Group
Listed By:
Pete Janemark · License #NV S.0076731
(702) 885-7383
Source:
Crexi
Added: Jul 23
Changed: Sep 4
Last Checked: Sep 2 at 7:03AM
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.
This ground-floor off-lobby office condo is laid out for front-office reception and team work. The unit includes a reception area and waiting room, a large conference room, six large windowed offices, four cubicles, a copy/document room, an IT closet, and a break room.
The suite has one public entrance directly off the lobby and one private entrance, supporting separate guest and internal access.
With a mix of offices, open workstations, and meeting space, the layout is designed to support day-to-day operations from a single ground-floor suite.
The suite has one public entrance directly off the lobby and one private entrance, supporting separate guest and internal access.
With a mix of offices, open workstations, and meeting space, the layout is designed to support day-to-day operations from a single ground-floor suite.
Key Highlights
- Ground‑floor off‑lobby office condo with direct access from the lobby and a separate private entrance
- Reception area and waiting room at the main public entry
- Large conference room for meetings and client discussions
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
$39,245
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
3.57%
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%
$784,900
$784.9K
Cap Rate 7%
$560,643
$560.6K
Cap Rate 9%
$436,056
$436.1K
Market Conditions
NOI Build-Up for 2,550 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
$61.2K $24.00/SF
− Vacancy
−$8.9K −$3.48/SF
EGI
$52.3K $20.52/SF
− OpEx
−$13.1K −$5.13/SF
NOI
$39.2K $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%
$784,900
Cap Rate 7%
$560,643
Cap Rate 9%
$436,056
Alternative Uses
Best Use
Office B
$560.6K
$490.6K – $654.1K
NOI $39,245 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$881.1K
$771.0K – $1.03M
NOI $61,679 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 89129, NV
54,067
Population
21,941
Households
2.5
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
5,407
Density / Sq Mi
$87,544
Median Household Income
$48,690
Median Earnings
$1,767
Median Rent
$420,400
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 units - Ground-floor office suite with reception, waiting room, conference room, six windowed offices, cubicles, and two entrances.
Where is this office units located?
The property is located at 9960 W CHEYENNE AVE Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Ground‑floor off‑lobby office condo with direct access from the lobby and a separate private entrance; Reception area and waiting room at the main public entry; Large conference room for meetings and client discussions
