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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6720 Via Austi Pkwy Las Vegas, NV 89119-3567

    • Office buildings
    • 116,548 SF
    • 1.53 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2022
    $31,875,000
    Value Estimations
    $30,950,000
    Show details
    Cap Rate Potential
    5.3%
    Office buildings
    Location Intelligence
    Property ID
    US62-0440368
    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

    • Dwayne Workman, Movement Mortgage / Loan Service / Bank
    • Whiting-Turner Contracting Company / Construction Company / General Contractor
    • The Hartford / Insurance Agency
    • Laxalt & Nomura / Law Firm
    • J G & a Inc / Business Management Consultant

    Property Details for 6720 Via Austi Pkwy

    Year built
    2007
    Construction
    METAL FRAME
    Lot size
    1.53 lot acres
    Property size
    116,548 SF
    Property type
    Office buildings
    APN
    177-04-610-010
    APU
    17704610010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $36,060,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $31,890,000
      6.5%
      $29,435,000
      7%
      $27,330,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $25,494,000
      Market price range: $5.07M - $25.9M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $34,780,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $50,595,000
      Change: +45% Conversion: Difficult
      RETAIL STORES
      $43,570,000
      Change: +25% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.162
    Latitude
    36.0671
    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
    $205,307
    $349,897
    $9,554,148
    $9,904,045
    -
    $999,706
    $27,297,566
    $28,297,272

    Comparable in this City

    • Value Estimation by Request
      1,234 SF

      2346 Russell Rd

      OFFICE BUILDING • 1,234 SF
      2346 Russell Rd, Las Vegas, NV 89119-3033
      View Details
    • Value Estimation
      $11,385,000
      76,224 SF

      2215 Renaissance Dr

      OFFICE BUILDING • 76,224 SF
      2215 Renaissance Dr, Las Vegas, NV 89119-6163
      View Details
    • Value Estimation by Request
      600 SF

      175 Reno Ave Ste C8

      OFFICE BUILDING • 600 SF
      175 Reno Ave Ste C8, Las Vegas, NV 89119-1102
      View Details
    • Value Estimation by Request
      1,150 SF

      175 Reno Ave Ste C7

      OFFICE BUILDING • 1,150 SF
      175 Reno Ave Ste C7, Las Vegas, NV 89119-1102
      View Details
    • Value Estimation
      $670,000
      4,392 SF

      175 Reno Ave Ste C4

      PROFESSIONAL BUILDING • 4,392 SF
      175 Reno Ave Ste C4, Las Vegas, NV 89119-1102
      View Details
    • Value Estimation
      $8,145,000
      35,935 SF

      222 Via Marnell Way

      OFFICE BUILDING • 35,935 SF
      222 Via Marnell Way, Las Vegas, NV 89119-3522
      View Details

    Similar Nearby for Sale

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      Las Vegas Office Building Opportunity

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      Remodeled Office Building with Suites

      12,472 SF office building with leasing and parking income.
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    • $1,200,000
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      Single-tenant, remodeled office building in central East Valley location.
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      Prime 25,000 SF Office, NNN Lease
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      Office warehouse building with fenced yard, near I-15 and I-215.
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    Similar Nearby for Lease

    • $5,375,000
      14,000 SF

      Two-Story Office Building Available

      Professional office building with high visibility and convenient access.
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    • $1.50 SF/Yr
      2,287 SF

      Class A Office Space Available

      Professional office building on East Flamingo Road office corridor.
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    • $27 SF/Yr
      6,503 SF

      Las Vegas Creative Office Suite

      Prime location, 6,503 sq ft, single tenant.
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    • $19 SF/Yr
      91,733 SF

      Flamingo Professional Center

      Las Vegas Office Space Available
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      View Details
    • $2 SF/Yr
      1,999 SF

      Warm Springs Office/Medical Space

      Office and medical suites available near I-215 freeway.
      1776 E Warm Springs Rd, Las Vegas, NV 89119
      View Details
    • $2.00 SF/Yr
      2,200 SF

      Modern Office Space Available

      Turnkey office space with natural light and freeway access.
      6785 S Eastern Ave, Las Vegas, NV 89119
      View Details
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    6720 Via Austi Pkwy
    Las Vegas, NV 89119-3567
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    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
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