520 9th St Las Vegas, NV 89101-7011
- Office buildings
- 1,683 SF
- 0.15 lot acres
Feb 27, 2025
Current Use by Public Records
- Trachtman Law LLC / Law Firm
Property Details for 520 9th St
- Year built
- 1942
- Construction
- FRAME
- Lot size
- 0.15 lot acres
- Property size
- 1,683 SF
- Property type
- Office buildings
- APN
- 139-34-810-059
- APU
- 13934810059
Description
This exceptional 3,135 square foot single-story office building presents a unique owner-user opportunity in the heart of Downtown Las Vegas. Built in 1942, the property boasts a functional layout including two private offices, an open bullpen area perfect for collaborative work, a dedicated conference room, a convenient kitchenette, and a welcoming reception/lobby. Two private bathrooms cater to employee needs, while ample basement storage provides additional space. A significant advantage is the oversized garage featuring high ceilings and roll-up doors, offering versatile storage or workshop potential. The property sits on a 0.15-acre lot and is zoned for Professional Office (P-O) use. The asking price is $850,000, translating to $271.13 per square foot. This represents a compelling investment opportunity for a business seeking a well-established, centrally located office space with significant character and potential. The property's location in Downtown Las Vegas offers easy access to amenities, transportation, and a vibrant urban environment. This is a rare chance to acquire a historic building with modern functionality and significant upside. The land value alone is estimated at $5,666,666.67 per acre.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $610,000
- ML approach
- $685,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $460,000
- 6.5%
- $425,000
- 7%
- $395,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $630,000
- AI Estimate
- $384,000
Market price range: $401k - $891kMarket price range: $161k - $540k -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $560,000 Current use
- COMMERCIAL (GENERAL)
- $1,010,000 Change: +80% Conversion: Easy
- AUTO REPAIR, GARAGE
- $935,000 Change: +66% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $730,000 Change: +30% Conversion: Difficult
- MEDICAL BUILDING
- $465,000 Change: -18% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.14
- Latitude
- 36.1619
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA