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    Property profile & analytics

    3470 Russell Rd Las Vegas, NV 89120

    • Office buildings
    • 11,685 SF
    • 0.59 lot acres
    For Sale
    View listing
    $2,500,000
    Last Sale
    Oct 18, 2022
    $2,500,000
    Value Estimations
    Cap Rate Potential
    6.8%
    Office buildings
    Location Intelligence
    Property ID
    US62-0660175
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Contessa Court Executive Suites / Mailbox Rental Service / Executive Suite Rental Agency
    • On Demand Concierge / Graphic Designer / Information Services
    • Bancroft Brokerage - Commercial Real Estate & Business Brokerage / Commercial Real Estate Agency / Business Development Service
    • RHJ Credit Consultants / Credit Counseling Service
    • Convenient Rental Cars / Car Rental Agency

    Property Details for 3470 Russell Rd

    Year built
    2003
    Construction
    FRAME
    Lot size
    0.59 lot acres
    Property size
    11,685 SF
    Property type
    Office buildings
    APN
    161-30-401-041
    APU
    16130401041

    Description

    This exceptional two-story, 11,310 square foot executive office building presents a unique owner-user opportunity in Las Vegas, Nevada. Located at 3470 E Russell Rd, this Class B property boasts a strategic location minutes from Harry Reid International Airport. Built in 2003 and renovated in 2019, the building sits on a 25,700 square foot lot and is zoned for Commercial Professional use. The 16% occupancy provides immediate income potential for an owner-user seeking to supplement their investment. The building features 12 well-appointed offices, multiple conference rooms, a reception area, ample storage and utility rooms, a break room, and 17 parking spaces. An elevator adds convenience to this modern building. The asking price is $2,500,000, translating to $221.04 per square foot. This property offers a blend of immediate income and versatile space, making it ideal for a business seeking both a headquarters and rental income. The property's features and location combine to create a compelling investment opportunity. The APN is 161-30-401-041.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,830,000
      ML approach
      $2,825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,195,000
      6.5%
      $2,950,000
      7%
      $2,740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,502,000
      Market price range: $2.22M - $3.84M
      AI Estimate
      $1,767,000
      Market price range: $957k - $3.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,940,000
      Current use
      RETAIL STORES
      $4,370,000
      Change: +49% Conversion: Moderate
      MEDICAL BUILDING
      $3,215,000
      Change: +9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.099
    Latitude
    36.0865
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,555
    $89,950
    $435,446
    $525,396
    -
    $257,000
    $1,244,131
    $1,501,131

    Comparable in this City

    • Value Estimation
      $390,000
      1,583 SF

      3199 Warm Spgs Rd Ste, Unit 300

      OFFICE BUILDING • 1,583 SF
      3199 Warm Spgs Rd Ste, Las Vegas, NV 89120-3150
      View Details
    • Value Estimation
      $420,000
      1,925 SF

      3624 Russell Rd

      OFFICE BUILDING • 1,925 SF
      3624 Russell Rd, Las Vegas, NV 89120-2203
      View Details
    • Value Estimation
      $295,000
      1,178 SF

      3674 Sunset Rd

      OFFICE BUILDING • 1,178 SF
      3674 Sunset Rd, Las Vegas, NV 89120-7234
      View Details
    • Value Estimation
      $295,000
      1,178 SF

      3674 Sunset Rd

      OFFICE BUILDING • 1,178 SF
      3674 Sunset Rd, Las Vegas, NV 89120-7234
      View Details
    • Value Estimation
      $295,000
      1,178 SF

      3632 Sunset Rd

      OFFICE BUILDING • 1,178 SF
      3632 Sunset Rd, Las Vegas, NV 89120-7239
      View Details
    • Value Estimation
      $285,000
      1,178 SF

      3620 Sunset Rd

      OFFICE BUILDING • 1,178 SF
      3620 Sunset Rd, Las Vegas, NV 89120-7233
      View Details

    Similar Nearby for Sale

    • $1,200,000
      4,500 SF

      Turnkey Daycare or Office Building

      Ready for daycare or office use with recent upgrades.
      2948 E Russell Rd, Las Vegas, NV 89120
      View Details
    • $2,095,000
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      Leased Office Investment Opportunity

      100% leased office building with long-term tenants.
      3077 E Warm Springs Rd, Las Vegas, NV 89120
      View Details
    • $2,899,000
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      Two-Story Office Building For Sale

      Two-story office building in Airport Submarket, ideal for owner/user.
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    • $1,100,000
      4,500 SF

      Las Vegas Office Building - $1.1M

      Fully Leased Office, Great Investment
      2948 Russell Rd, Las Vegas, NV 89120
      View Details
    • $2,500,000
      11,310 SF

      Executive Office Building, Las Vegas

      Prime location, 11,310 sq ft, owner-user opportunity.
      3470 Russell Rd, Las Vegas, NV 89120
      View Details
    • Contact for pricing
      7 SF

      Office Space in Las Vegas

      Office space available with attorneys and other organizations.
      3191 East Warm Springs Rd, Las Vegas, NV 89120
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
      5,148 SF

      Office and Warehouse Suite

      Office/warehouse suite near airport with no CAM expenses.
      6275 Mcleod Dr, Las Vegas, NV 89120
      View Details
    • $1,076 /Mo
      780 SF

      Small Office in Business Park

      780 SF office space near Harry Reid International Airport.
      2670 Chandler Ave, Las Vegas, NV 89120
      View Details
    • $1,099 /Mo
      960 SF

      Well-Located Office Space Available

      Office space near airport with flexible layout and included HVAC.
      2680 Chandler Ave, Las Vegas, NV 89120
      View Details
    • $19,440 /Mo
      1,200 SF

      Las Vegas Office Space for Lease

      Prime 1,200 sq ft Office Suite in Las Vegas
      3191 Warm Spg Rd Ste 105, Las Vegas, NV 89120
      View Details
    • $22,416
      1,495 SF

      Las Vegas Office Space - 1,495 SF

      Prime Airport Area Office, 38 Parking Spaces
      5868 Pecos Rd, Las Vegas, NV 89120
      View Details
    • $1,218 /Mo
      720 SF

      Functional Office Space Available

      Office space with reception, conference room, and easy access.
      6396 Mcleod Dr, Las Vegas, NV 89120
      View Details
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    3470 Russell Rd
    Las Vegas, NV 89120
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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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