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    Property profile & analytics

    2400 Tenaya Way Las Vegas, NV 89128

    • Warehouses
    • 40,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Got films / Film Production / Television Studio
    • Astraia Matelich / Real Estate Agency
    • Brittny Perry: Allstate Insurance / Insurance Agency
    • SAVE Institute and Foundation LLC / Alternative Medicine Practice
    • Frank J. Szabo, Jr., LADC / Physician

    Property Details for 2400 Tenaya Way

    Year built
    1986
    Property size
    40,000 SF
    Property type
    Warehouses
    Property subtype
    Retail properties

    Description

    Ackerman Professional Plaza, a unique mixed-use complex in Las Vegas' NW Medical District, offers diverse spaces for lease. This 40,000 square foot property, built in 1986 and renovated in 2011, comprises two one-story buildings on a 4.08-acre lot. The property features 65 suites ranging from a minimum of 123 square feet to a maximum contiguous space of 10,000 square feet, catering to various business needs. Space types include traditional, executive, and creative offices

    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
    -115.251
    Latitude
    36.2042

    Comparable in this City

    • Value Estimation by Request
      11,065 SF

      7375 Peak Dr

      Medical offices • 11,065 SF
      7375 Peak Dr, Las Vegas, NV 89128
      View Details
    • Value Estimation by Request
      68,435 SF

      2650 Tenaya Way

      Medical offices • 68,435 SF
      2650 Tenaya Way, Las Vegas, NV 89128
      View Details
    • Value Estimation by Request
      30,000 SF

      2851 Tenaya Way

      Medical offices • 30,000 SF
      2851 Tenaya Way, Las Vegas, NV 89128
      View Details
    • Value Estimation by Request
      58,142 SF

      2901-2931 Tenaya Way

      Medical offices • 58,142 SF
      2901-2931 Tenaya Way, Las Vegas, NV 89128
      View Details
    • Value Estimation
      $2,215,000
      5,970 SF

      7050 Smoke Rnch Rd Ste, Unit 110

      MEDICAL BUILDING • 5,970 SF
      7050 Smoke Rnch Rd Ste, Las Vegas, NV 89128-8610
      View Details
    • Value Estimation
      $660,000
      4,416 SF

      2650 Crimson Cyn Dr

      MEDICAL BUILDING • 4,416 SF
      2650 Crimson Cyn Dr, Las Vegas, NV 89128-0841
      View Details

    Similar Nearby for Sale

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    • $959,700
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      Las Vegas Executive Office Suite

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      Summerlin Condo with Resort Amenities

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    Similar Nearby for Lease

    • $12 SF/Yr
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      Las Vegas Office Space for Lease

      Flexible workspace solutions in prime location.
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      Tenaya Medical Office Space Available

      3,065 SF Medical Office Suite in Las Vegas
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    • Contact for pricing
      130,530 SF

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      130,111 SF

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      Freestanding building with ESFR sprinklers and ample parking.
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      Summerlin Adjacent Medical/Professional Office

      Turnkey medical/professional office space near Summerlin with covered parking.
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    • $2.00 SF/Yr
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      View Details
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    2400 Tenaya Way
    Las Vegas, NV 89128
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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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