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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9970 Cheyenne Ave Las Vegas, NV 89129

    • Office Properties & Spaces
    • 22,221 SF
    • 2.38 lot acres
    For Sale
    View listing
    $9,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The ObGyn Center / Physician
    • Rosie Piacentini / Physician
    • Saovaros Michaels, MD / Physician
    • Anita Gondy, MD / Physician
    • Go Wireless, Inc. / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 9970 Cheyenne Ave

    Year built
    2005
    Lot size
    2.38 lot acres
    Property size
    22,221 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional 22,221 square foot Class B medical office building in Las Vegas, Nevada, presents a unique investment opportunity. Located at 9970 W Cheyenne Ave, this single-story, 2005-built facility sits on a 2.38-acre lot (APN 138-07-411-014) and offers excellent visibility from Cheyenne Avenue and convenient access to I-215. Currently, a portion of the building (9,146 sq ft) is occupied by HERA Women's Healthcare. The remaining space, up to 13,107 square feet, is available and can be subdivided into minimum 3,000 square foot units. The property boasts ample parking and benefits from its proximity to Summerlin Medical Center and Mountain View Hospital, surrounded by dense residential communities. This NNN-leased, multi-tenant building is priced at $9,250,000 ($416.27/sq ft). A tenant improvement allowance may be available. This is an ideal location for a medical practice or custom office build.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.313
    Latitude
    36.2189

    Comparable in this City

    • Value Estimation by Request
      22,725 SF

      3321 Buffalo Dr

      Medical offices • 22,725 SF
      3321 Buffalo Dr, Las Vegas, NV 89129
      View Details
    • Value Estimation by Request
      13,107 SF

      9970 Cheyenne Ave

      Medical offices • 13,107 SF
      9970 Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • Value Estimation by Request

      7324 Cheyenne Ave

      Medical offices
      7324 Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • Value Estimation
      $1,915,000
      10,678 SF

      7316 Cheyenne Ave

      MEDICAL BUILDING • 10,678 SF
      7316 Cheyenne Ave, Las Vegas, NV 89129-6201
      View Details
    • Value Estimation
      $810,000
      4,900 SF

      8980 Cheyenne Ave

      MEDICAL BUILDING • 4,900 SF
      8980 Cheyenne Ave, Las Vegas, NV 89129-8928
      View Details
    • Value Estimation
      $1,315,000
      7,897 SF

      7326 Cheyenne Ave Ste, Unit 110

      MEDICAL BUILDING • 7,897 SF
      7326 Cheyenne Ave Ste, Las Vegas, NV 89129-6237
      View Details

    Similar Nearby for Sale

    • $9,250,000
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      Cheyenne Ave Medical Office Building

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    Similar Nearby for Lease

    • $1.75 SF/Yr
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      Pointe North Office Campus

      Office campus near Northwest Medical District with flexible floor plans.
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    • $2 SF/Yr
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      Medical Office Space Available

      Medical office space for lease with on-site amenities.
      7730 W Cheyenne Ave, Las Vegas, NV 89129
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    • $2 SF/Yr
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      Medical Office Space Available

      Medical office space in Las Vegas Medical District for rent.
      8630 W Cheyenne Ave, Las Vegas, NV 89129
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    • $26 SF/Yr
      323,000 SF

      Cheyenne Corporate Center: Las Vegas Office Space

      Las Vegas office suites, ample parking, modern design.
      3301 Cheyenne Ave & Buffalo Dr, Las Vegas, NV 89129
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    • $2 SF/Yr
      6,328 SF

      Remodeled Office Space Available

      Office space with remodeled common areas, high parking ratio.
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    • Contact for pricing
      2,400 SF

      Retail Space on Cheyenne Avenue

      Retail space with excellent visibility and ample parking.
      7450 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
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    Las Vegas, NV 89129
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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
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