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

    8655 Eastern Ave Las Vegas, NV 89123

    • Office buildings
    • 22,386 SF
    • 1.83 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-1122322
    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

    • CHANG-HOON AHN / Pediatrician / Physician
    • RICHARD ORR / Pediatrician / Physician
    • DANIEL NGUYEN / Pediatrician / Physician
    • RICARDO MANUEL GARATEIX / Pediatrician / Physician
    • DOMINIQUE TAYLOR / Physician

    Property Details for 8655 Eastern Ave

    Year built
    2005
    Construction
    FRAME
    Lot size
    1.83 lot acres
    Property size
    22,386 SF
    Property type
    Office buildings
    APN
    177-14-710-012
    APU
    17714710012

    Description

    This exceptional 22,400 square foot, single-story Class A office building in Las Vegas, Nevada, presents a compelling value-add investment or owner-user opportunity. Located in a master-planned business park, this property boasts a prime location with over 400 feet of frontage on Eastern Avenue, a major thoroughfare experiencing over 32,000 vehicles daily. Currently 30% occupied with a three-year leaseback from an affiliate of Optum Health (6,800 SF), leaving 15,600 SF vacant. The building, constructed in 2005, sits on a 1.83-acre lot and is zoned Commercial General (CG), allowing for flexibility in future uses. Its strategic location offers easy access to I-215, connecting to major highways, and proximity to Dignity St. Rose Dominican Hospital-Sienna Campus, McCarran International Airport, and the Eastern Avenue retail corridor. The property's high-quality infrastructure and finishes minimize capital investment needs for new tenants. The current below-market rental rate of $113.50/SF presents significant upside potential. The surrounding Eastern Canyon Plaza, with 18 buildings totaling 208,000 square feet, currently shows no vacancies besides this asset, highlighting the area's strong demand. This property offers a variety of business plan options, including light tenant improvements to attract new tenants, conversion to multi-tenant use, or repurposing for various commercial uses such as behavioral health, medical office, educational facilities, or retail.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,125,000
      6.5%
      $5,655,000
      7%
      $5,250,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,780,000
      Current use
      INDUSTRIAL (GENERAL)
      $6,630,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.119
    Latitude
    36.0322
    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
    $39,643
    $334,803
    $1,361,011
    $1,695,814
    -
    $956,580
    $3,888,603
    $4,845,183

    Comparable in this City

    • Value Estimation
      $9,390,000
      62,943 SF

      8985 Eastern Ave

      OFFICE BUILDING • 62,943 SF
      8985 Eastern Ave, Las Vegas, NV 89123-4851
      View Details
    • Value Estimation by Request
      1,174 SF

      7620 Bermuda Rd

      OFFICE BUILDING • 1,174 SF
      7620 Bermuda Rd, Las Vegas, NV 89123-1267
      View Details
    • Value Estimation
      $665,000
      3,979 SF

      8405 Eastern Ave

      OFFICE BUILDING • 3,979 SF
      8405 Eastern Ave, Las Vegas, NV 89123-2889
      View Details
    • Value Estimation
      $5,765,000
      32,325 SF

      8235 Eastern Ave

      OFFICE BUILDING • 32,325 SF
      8235 Eastern Ave, Las Vegas, NV 89123-2501
      View Details
    • Value Estimation
      $2,830,000
      16,093 SF

      8540 Eastern Ave

      OFFICE BUILDING • 16,093 SF
      8540 Eastern Ave, Las Vegas, NV 89123-2834
      View Details
    • Value Estimation
      $4,940,000
      26,053 SF

      8215 Eastern Ave

      OFFICE BUILDING • 26,053 SF
      8215 Eastern Ave, Las Vegas, NV 89123-2522
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    Similar Nearby for Lease

    • $17 SF/Yr
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      Viewpointe Professional Center Office Space

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    • $27 SF/Yr
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      Office Space Available For Rent

      4,640 square feet of office space for lease.
      8965 S Eastern Ave, Las Vegas, NV 89123
      View Details
    • $27 SF/Yr
      1,117 SF

      Office Space Available For Rent

      Office space available for lease in Las Vegas, Nevada.
      8985 S Eastern Ave, Las Vegas, NV 89123
      View Details
    • $27 SF/Yr
      26,565 SF

      Scottsdale Plaza: Retail & Office Space

      Prime Las Vegas location, multiple suites available.
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    • $0.25 SF/Yr
      98,973 SF

      Two-Story Office Over Retail

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    8655 Eastern Ave
    Las Vegas, NV 89123
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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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