3505 Flamingo Rd Las Vegas, NV 89121

This exceptional 12,000-square-foot office building presents a compelling value-add investment opportunity in Las Vegas, Nevada. Located at 3505 E Flamingo Rd, this single-story, 1993-built property sits on a 1.74-acre lot and is zoned CG (Commercial General), allowing for diverse commercial uses. Currently boasting 100% occupancy with a multi-tenant configuration and staggered leases ranging from one to five years, the property offers immediate income generation. The current Net Operating Income (NOI) is $113,161, yielding a 5.73% cap rate. However, a pro-forma NOI of $178,553 projects a significantly higher 9.04% cap rate, reflecting the substantial upside potential through lease renewals at market rates and potential interior renovations. The asking price is $1,975,000, translating to $164.58 per square foot. The property benefits from below-market lease terms with a 5% annual escalation clause, exceeding the market average. Additional income streams are generated from parking revenue and potential billboard signage. Situated near the Las Vegas Strip, T-Mobile Arena, and UNLV, this property enjoys a prime location within a thriving commercial area. This fee-simple ownership offers a rare chance to acquire a stabilized, multi-tenant office building with significant potential for increased profitability. The property's strong location, below-market leases, and diverse income streams make it an attractive investment for those seeking long-term growth and value appreciation.