2948 Russell Rd, Las Vegas, NV 89120-2453
- Office buildings
- 4,580 SF
- 0.46 lot acres
Current Use by Public Records
- Reaching Heights Learning Academy / High School / Daycare Center
- All Nevada Insurance- The Arbeli Group / Insurance Agency
- crEATe Good Foods Inc. / Food Processing Plant / Factory
- Nevada Commercial Insurance / Insurance Agency
- ICE Heating Cooling & Plumbing / HVAC Service / General Contractor
Property Details for 2948 Russell Rd
- Year built
- 1973
- Construction
- FRAME
- Lot size
- 0.46 lot acres
- Property type
- Office buildings
- APN
- 162-25-415-007
- APU
- 16225415007
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 26, 2026 | $1,200,000 | Ds 2 LLC | Lya Properties LLC | Bargain & Sale Deed | $1.3M · Enterprise Bank & Trust |
| Dec 4, 2017 | — | Lya Properties LLC | — | Deed · related | $294k · Mortgage Cap Dev |
| Oct 31, 2017 | $710,000 | Lya Properties LLC | Jib Real Estate LLC | Bargain And Sale Deed | $368k · Meadows Bank |
| Dec 22, 2014 | $500,000 | Jib Real Estate LLC | Rsb Family Ventures LLC | Grant Deed | — |
| Dec 1, 2014 | $500,000 | Rsb Family Ventures LLC | Jib Real Estate LLC | Grant Deed | — |
| May 17, 2007 | — | Jib Real Estate LLC | Baskow J I Living Trust | Grant Deed | — |
| Nov 20, 1995 | $260,000 | Basko,jacki | Hernandez,jesus N & Imelda | Trustees Deed | $200k · Primerit Bank |
| Nov 20, 1995 | — | Jaki Baskow | Pjevach,steven D | Quit Claim Deed · related | — |
| — | — | Jaki Baskow | — | Deed Of Trust · related | $250k · Bank Of America |
| — | — | Jesus N Hernandez | — | Deed Of Trust · related | $56k · Aames Home Loan Of Nevada |
| — | — | Jaki Baskow | — | Deed Of Trust · related | $220k · Bank Of America |
| — | — | Lya Properties LLC | — | Deed Of Trust · related | $294k · Mortgage Cap Dev |
Description
This exceptional investment opportunity presents a fully leased, single-story office building totaling 4,500 square feet situated on a 0.46-acre lot in Las Vegas, Nevada. The property, built in 1974 and classified as Class C, features three units currently operating at 100% occupancy under a gross lease structure. The primary tenant is a daycare facility, secured under a new 36-month lease (commencing May 15, 2023) with a monthly rent of $7,725.52, including a 4% annual rent increase. This lease includes three additional three-year option periods with automatic 4% annual increases. A secondary tenant occupies one unit on a month-to-month basis, providing flexibility for future income generation. The property's strategic location near the 215 freeway and Harry Reid International Airport, within a high-density residential area, ensures strong tenant demand and future appreciation potential. The property's APN is 162-25-415-007 and is zoned CP. This is a rare opportunity to acquire a stable, high-yielding investment property in a rapidly growing market. The asking price is $1,100,000, translating to $244.44 per square foot.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,255,000
- 6.5%
- $1,155,000
- 7%
- $1,075,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $871,000
Market price range: $872k - $1.50M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,150,000 Current use
- RETAIL STORES
- $1,710,000 Change: +49% Conversion: Moderate
- MEDICAL BUILDING
- $1,260,000 Change: +9% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.111
- Latitude
- 36.0868
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
