Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3425 Flamingo Rd Las Vegas, NV 89121
    Back to Search
    Property profile & analytics

    3425 Flamingo Rd Las Vegas, NV 89121

    View on Map
    • Office properties & Spaces
    • 38,236 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Antojitos DF Y Mas / Restaurant
    • Infinity Solar Energy / Corporate Office
    • Oasis Hand Car Wash / Car Wash
    • Oasis Window Tinting / Interior Design / Auto Repair Shop
    • Ceramic coatings / window tinting / car wraps / paint protection / Interior Design / Auto Repair Shop

    Property Details for 3425 Flamingo Rd

    Property size
    38,236 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional medical office building, The Cannery West, located at 3425-3475 E. Flamingo Rd, Las Vegas, NV 89121, offers 38,236 square feet of space in a vibrant, multi-tenant setting. The property is zoned CG (General Commercial) in Clark County and boasts 180 parking spaces for ample convenience. Currently, 20,464 square feet of space is available, divisible into units ranging from a minimum of 2,315 square feet to a maximum contiguous space of 15,149 square feet. This presents a unique opportunity for medical practices seeking flexible and adaptable space to accommodate their needs. The building's location at the signalized intersection of E Flamingo Rd and S Pecos Rd provides excellent visibility and accessibility, situated within a high-traffic corridor and close proximity to the 515 freeway. The Cannery West is part of a larger retail destination spanning 10.29 acres, ensuring a thriving and well-established community surrounding the property. This prime location in Las Vegas' Central East submarket offers significant advantages for medical professionals seeking a high-profile and easily accessible location for their practice. The property's ample parking and flexible space options make it an ideal choice for a variety of medical uses.

    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
    -115.099
    Latitude
    36.1149

    Comparable in this City

    • Value Estimation by Request
      8,334 SF

      3085 Flamingo Rd

      Medical Office Space • 8,334 SF
      3085 Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Value Estimation by Request
      2,248 SF

      4485 Nellis Blvd

      Day care centers • 2,248 SF
      4485 Nellis Blvd, Las Vegas, NV 89121
      View Details
    • Value Estimation by Request
      16,209 SF

      3575 Pecos-Mcleod Interconnect

      Medical Office Space • 16,209 SF
      3575 Pecos-Mcleod Interconnect, Las Vegas, NV 89121
      View Details
    • Value Estimation by Request
      8,334 SF

      3085 Flamingo Rd

      Medical Office Space • 8,334 SF
      3085 Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Value Estimation
      $7,230,000
      55,370 SF

      2800 Desert Inn Rd

      MEDICAL BUILDING • 55,370 SF
      2800 Desert Inn Rd, Las Vegas, NV 89121-3608
      View Details
    • Value Estimation
      $810,000
      5,271 SF

      2850 Desert Inn Rd

      MEDICAL BUILDING • 5,271 SF
      2850 Desert Inn Rd, Las Vegas, NV 89121-3605
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,209 SF

      Shepherd Eye Surgery Center

      16,209 SF surgery center with long-term lease.
      3575 Pecos-Mcleod Interconnect, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Redevelopment Opportunity on Desert Inn

      Stand-alone building redevelopment opportunity with high visibility in Las Vegas.
      4915 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Redevelopment Opportunity on Desert Inn

      Land for redevelopment with high visibility and access.
      4915 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      3,985 SF

      Las Vegas Retail/Office Opportunity

      Versatile commercial property suitable for retail or office uses.
      3085 East Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      31,086 SF

      Las Vegas Retail Space Available

      Retail space for sale in Las Vegas, 31,086 SqFt.
      2420 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Prime Pad Opportunity on Tropicana

      Pad site with frontage on Tropicana near major retailers.
      3210 E Tropicana Ave, Las Vegas, NV 89121
      View Details

    Similar Nearby for Lease

    • $1.58 SF/Yr

      Redevelopment Opportunity on Desert Inn

      Redevelopment opportunity ideal for commercial, office, medical, or dental use.
      4915 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Professional Office Center For Rent

      Centrally located office center with below market rates.
      2725 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Professional Office Space Available

      Turn-key office suite with convenient access and parking.
      3585 E Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing

      Las Vegas Retail Strip Center

      Neighborhood retail strip center in east central Las Vegas.
      3160 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      3,150 SF

      Office Space Available For Rent

      3150 square feet office space for rent in Las Vegas.
      2880 E Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Sponsored
      Contact for pricing

      NV, Las Vegas - Raymert Dr

      Flexible workspace in NV, Las Vegas - Raymert Dr
      3838 Raymert Dr, Las Vegas, NV 89121
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3425 Flamingo Rd
    Las Vegas, NV 89121
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3425 Flamingo Rd, Las Vegas, NV, 89121
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!