Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1060 Flamingo Rd Las Vegas, NV 89119-7436
    Back to Search
    Property profile & analytics

    1060 Flamingo Rd, Las Vegas, NV 89119-7436

    View on Map
    • Specialty properties
    • 4,980 SF
    • 0.38 lot acres
    Off-Market
    Property ID
    US62-0271841
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Paradise Pet Hospital / Veterinary Clinic
    • Sura Shannon B DVM / Veterinary Clinic

    Property Details for 1060 Flamingo Rd

    Year built
    2009
    Construction
    FRAME
    Lot size
    0.38 lot acres
    Property type
    Specialty properties
    APN
    162-15-805-007
    APU
    16215805007

    Description

    This exceptional investment opportunity presents a single-story, 4,890 square foot medical office building located at 1060 E Flamingo Rd, Las Vegas, NV 89119. The property, built in 2009 and renovated in 2016, sits on a 0.38-acre lot with premium frontage on a high-traffic road boasting over 55,000 vehicles daily. Currently 100% occupied by a thriving pet hospital under a Net Lease (NNN) agreement commencing January 1, 2024, and expiring November 30, 2029, this Class B building offers a strong 7.55% cap rate with a net operating income (NOI) of $60,000. The property features Commercial General zoning, allowing for diverse future uses. The ground lease is in place, and the ownership is leasehold. This recession-resistant investment in the pet healthcare industry provides exceptional visibility and accessibility, making it an ideal opportunity for investors seeking stability and long-term lease security. The single-tenant occupancy minimizes management complexities, and the tenant's established presence ensures consistent rental income. The property's APN is 162-15-805-007.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.141
    Latitude
    36.1151
    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
    $9,446
    $133,252
    $222,591
    $355,843
    -
    $380,720
    $635,974
    $1,016,694

    Comparable in this City

    • Value Estimation by Request
      44,774 SF

      6880 Bermuda Rd

      Specialty properties
      6880 Bermuda Rd, Las Vegas, NV 89119
      View Details
    • Value Estimation by Request
      4,814 SF

      2210 Warm

      Automotive properties
      2210 Warm, Paradise, NV 89119
      View Details
    • Value Estimation
      $1,240,000
      6,475 SF

      2675 Arby Ave

      KENNEL
      2675 Arby Ave, Las Vegas, NV 89119-4022
      View Details
    • Value Estimation by Request
      8,755 SF

      2385 Tropicana Ave

      VETERINARY, ANIMAL HOSPITAL
      2385 Tropicana Ave, Las Vegas, NV 89119-6543
      View Details
    • Value Estimation by Request
      77,052 SF

      121 Sunset Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      121 Sunset Rd, Las Vegas, NV 89119-3518
      View Details
    • Value Estimation
      $2,505,000
      1,920 SF

      1125 Century Gdn Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1125 Century Gdn Dr, Las Vegas, NV 89119-1704
      View Details

    Similar Nearby for Sale

    • $215,000

      Renovated Condo Near UNLV

      Modern 2-bedroom condo with private yard and direct street access.
      1675 Jupiter Ct, Las Vegas, NV 89119
      View Details
    • $4,000,000
      2,100 SF

      Las Vegas Adult Cabaret Opportunity

      Rare opportunity to acquire a legendary adult cabaret near the Strip.
      311 East Flamingo Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      25,000 SF

      Two-Story Office Building in Las Vegas

      25,000 SF professional office building near Harry Reid Airport.
      311 E Warm Springs Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      12,472 SF

      Remodeled Office Building with Suites

      12,472 SF office building with leasing and parking income.
      330 E Warm Springs Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing

      Las Vegas Land For Sale

      Land available on South Las Vegas Boulevard.
      4815 S Las Vegas Blvd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      2,924 SF

      Las Vegas Fourplex Near Strip

      Four-unit property near the Las Vegas Strip with spacious floorplans.
      536 North Cir, Las Vegas, NV 89119
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Town Square

      Discover many ways to work your way in Town Square
      6671 Las Vegas Blvd, Las Vegas, NV 89119
      View Details
    • Contact for pricing

      NV, Las Vegas - South Maryland Parkway

      Discover many ways to work your way in NV, Las Vegas - South Maryland Parkway
      4220 Maryland Pkwy, Las Vegas, NV 89119
      View Details
    • Contact for pricing

      Airport Industrial Park Opportunity

      Located near McCarran Airport with planned renovations.
      6400 S Eastern Ave, Las Vegas, NV 89119
      View Details
    • Contact for pricing

      Medical/Professional Office Space Available

      Professional/Medical office space in a garden-style plaza, ideal for healthcare.
      4306 S Eastern Ave, Las Vegas, NV 89119
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 3,966 square feet.
      325 Hughes Center Dr, Las Vegas, NV 89119
      View Details
    • $1.35 SF/Yr

      Las Vegas Industrial Flex Property

      Industrial flex property with data center potential in Hughes Airport Center.
      871 Grier Dr, Las Vegas, NV 89119
      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.
    1060 Flamingo Rd
    Las Vegas, NV 89119-7436
    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
    1060 Flamingo Rd, Las Vegas, NV, 89119
    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!