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Property profile & analytics
FOR SALE
Office buildings
3470 E Russell Rd Las Vegas, NV 89120
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0660175
For Sale
1 / 48
$2,400,000
3470 E Russell Rd, Las Vegas, NV 89120
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
FRAME
Total area
11,685 SF
Lot
0.59 ac (25,700 SF)
APN
161-30-401-041
UPID
US62-0660175
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Contessa Court Executive Suites Real Estate Agency
-
On Demand Concierge Marketing & Advertising Advertising Agency
-
Bancroft Brokerage - Commercial Real Estate & Business Brokerage Real Estate Agency
-
RHJ Credit Consultants Financial Advisor
-
Convenient Rental Cars Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.83M
CAP Approach
CAP
$2.95M
Comparable Approach
Comparable
$2.50M
Blend (final)
Blend
$2.69M
Owner & transaction history
K&j Nv Holdings LLC Series L · 3 yrs held
K&j Nv Holdings LLC Series L
since 2022
Last sale
$2.5M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.4M
+48.7%
Medical building
$3.2M
+9.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Vegas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue 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
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
Blend value · Realmo final
$2.69M
Range $2.42M – $2.95M · ±10% · vs last sale $2.50M (Oct 18 2022)
Last sale anchor
$2.50M
Oct 18 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$230 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,555
Tax year 2023
Assessed value
$525,396
Assessed 2024
Previous assessed
$530,271
-0.9% YoY
Effective rate
2.96%
On assessed value
Assessed land
$89,950
Assessed improvement
$435,446
Land market value
$257,000
Improvement market value
$1,244,131
Total market value
$1,501,131
Applied tax rate
470.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
2003
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Total area
11,685 SF
Lot
0.59 ac (25,700 SF)
APN
161-30-401-041
UPID
US62-0660175
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
RETAIL STORES
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$3.2M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
K&j Nv Holdings LLC Series L
Entity
Mailing address
PO BOX 1941, HILO, HI 96721-1941
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2022
—
K&j Nv Holdings LLC Series L
Kelly R Jarneski
Intrafamily Transfer
related
—
Sep 16, 2022
$2,500,000
Kelly R Jarneski
Lex Dominus LLC
Bargain And Sale Deed
—
May 13, 2020
$1,175,000
Lex Dominus LLC
Russell Las Vegas LLC
Bargain And Sale Deed
$1,057,300 · Seacoast Commerce Bank
Mar 30, 2007
$1,900,000
Russell Las Vegas LLC
Rft & R LLC
Grant Deed
$350,000 · E Monarch Co INC
Mar 31, 2006
$310,033
Rft & R LLC
Contessa Court LLC
Grant Deed
$1,525,000 · Bank Of Las Vegas
—
—
Contessa Court LLC
—
Deed Of Trust
related
$405,908 · Gus Reifenrath
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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