Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2908 Highland Dr Las Vegas, NV 89109-1059

    • Warehouses
    • 20,000 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Sep 19, 2024
    $4,100,000
    Value Estimations
    $3,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0515372
    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

    • Warehouses

    Property Details for 2908 Highland Dr

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    1.00 lot acres
    Property size
    20,000 SF
    Property type
    Warehouses
    APN
    162-09-202-010
    APU
    16209202010

    Description

    This vacant, 24,000-square-foot manufacturing building in Las Vegas, NV, presents a compelling investment opportunity. Situated on a one-acre lot at 2908 S Highland Dr, this two-story Class C building boasts 22-foot ceilings, four loading docks, and ample parking. Built in 1980, it features recent electrical upgrades and all HVAC systems are in place, making it suitable for power-intensive operations. The property benefits from high visibility on Highland Drive with convenient access to I-15. Its location within an Opportunity Zone offers potential tax advantages. Zoned M (M-Industrial District), this property is ready for immediate occupancy or customization. The asking price is $4,500,000, or $187.50 per square foot. The APN is 162-09-202-010. This prime Las Vegas location offers significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,405,000
      6.5%
      $2,220,000
      7%
      $2,060,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,965,000
      Market price range: $2.45M - $5.47M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,730,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.172
    Latitude
    36.138
    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
    $12,921
    $274,428
    $200,090
    $474,518
    -
    $784,080
    $571,686
    $1,355,766

    Comparable in this City

    • Value Estimation
      $1,255,000
      13,200 SF

      3020 Westwood Dr

      WAREHOUSE, STORAGE • 13,200 SF
      3020 Westwood Dr, Las Vegas, NV 89109-1022
      View Details
    • Value Estimation
      $1,010,000
      11,249 SF

      3155 Highland Dr

      WAREHOUSE, STORAGE • 11,249 SF
      3155 Highland Dr, Las Vegas, NV 89109
      View Details
    • Value Estimation
      $1,570,000
      20,400 SF

      2901 Highland Dr

      WAREHOUSE, STORAGE • 20,400 SF
      2901 Highland Dr, Las Vegas, NV 89109-1081
      View Details
    • Value Estimation
      $1,470,000
      20,400 SF

      2901 Highland Dr

      WAREHOUSE, STORAGE • 20,400 SF
      2901 Highland Dr, Las Vegas, NV 89109-1081
      View Details
    • Value Estimation
      $520,000
      7,416 SF

      2664 Highland Dr

      WAREHOUSE, STORAGE • 7,416 SF
      2664 Highland Dr, Las Vegas, NV 89109-1116
      View Details
    • Value Estimation
      $3,000,000
      39,270 SF

      3160 Highland Dr

      WAREHOUSE, STORAGE • 39,270 SF
      3160 Highland Dr, Las Vegas, NV 89109-1042
      View Details

    Similar Nearby for Sale

    • $3,599,999
      12,000 SF

      Las Vegas Warehouse Investment Opportunity

      12,000 SF M-1 zoned building in central Las Vegas.
      3060 Westwood Dr, Las Vegas, NV 89109
      View Details
    • $365,000
      874 SF

      Las Vegas Condo with Views

      Condo with views of the Sphere, Strip, and Formula 1.
      125 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $372,000
      874 SF

      Las Vegas High-Rise Residence

      Fully furnished, income-producing, Airbnb-approved condo with resort amenities.
      125 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $546,000
      1,405 SF

      Turnberry Towers High-Rise Condo

      Luxurious 2 bed/2 bath condo with spectacular views.
      222 Karen Ave, Las Vegas, NV 89109
      View Details
    • $258,500
      520 SF

      Las Vegas High-Rise Condo

      Income-producing, fully furnished condo with Strip and pool views.
      135 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $732,000
      1,657 SF

      Las Vegas High-Rise Corner Residence

      Stunning corner residence with Strip, Downtown, and Country Club views.
      322 Karen Ave, Las Vegas, NV 89109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,697 SF

      Las Vegas Warehouse Space Available

      60,697 SF warehouse space for lease in Las Vegas.
      3702 Las Vegas Blvd S, Las Vegas, NV 89109
      View Details
    • $4 SF/Yr
      308,400 SF

      Highland Industrial Park Warehouses

      Las Vegas industrial space: flexible options available.
      2901 Highland Dr, Las Vegas, NV 89109
      View Details
    • Contact for pricing
      10,918 SF

      Industrial Space Near Las Vegas Strip

      Industrial space in multi-building project, convenient location, easy access.
      3000 S Highland Dr, Las Vegas, NV 89109
      View Details
    • Contact for pricing

      Las Vegas Industrial Sublease Opportunity

      Industrial space in Las Vegas with excellent connectivity and accessibility.
      3400 Western Ave, Las Vegas, NV 89109
      View Details
    • $15 SF/Yr
      60,941 SF

      Sahara Towne Square Retail Spaces

      Las Vegas retail center; multiple spaces available.
      2510-2680 Maryland Pkwy, Paradise, NV 89109
      View Details
    • $0.14 SF/Yr
      49,703 SF

      Medical/Professional Office Space Available

      Medical/professional office space for lease in East Las Vegas Medical District.
      3059 S Maryland Pkwy, Las Vegas, NV 89109
      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.
    2908 Highland Dr
    Las Vegas, NV 89109-1059
    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

    Google sign-in failed. Please try again or use another login method.