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

    8988 Cheyenne Ave, Unit 120 Las Vegas, NV 89129-8928

    • Office buildings
    • 4,500 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0745230
    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

    • Advanced Manual Therapy Institute / Physician
    • Julia Miller - Gold Star Mortgage Financial Group / Loan Service / Bank
    • Kimberly Harrison - Gold Star Mortgage Financial Group / Loan Service / Bank
    • Neyva Martinez - Gold Star Mortgage Financial Group / Loan Service / Bank
    • Gold Star Mortgage Financial Group / Loan Service / Bank

    Property Details for 8988 Cheyenne Ave

    Year built
    2016
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    4,500 SF
    Property type
    Office buildings
    APN
    138-08-416-005
    APU
    13808416005

    Description

    This exceptional commercial property, located at 8988 W. Cheyenne Avenue, Suite 150, Floor 1, Las Vegas, NV 89129, offers 1,760 square feet of well-designed office space. Situated in Clark County, this single-suite property is perfect for a business seeking a versatile and functional workspace. The layout includes a welcoming reception area, a dedicated conference room ideal for meetings and presentations, five private offices providing individual workspaces, a convenient break room for employee relaxation, an open bullpen area for collaborative work, and a secure server/copy room for essential office functions. The property is classified as both office and land, offering potential for future expansion or development. The multiple tenancy designation indicates flexibility in lease terms and potential for subleasing. This prime Las Vegas location provides easy access to major transportation routes and amenities. The property's total square footage is 1,760 square feet, encompassing all the features described above. This is a unique opportunity to secure a well-appointed office space in a thriving Nevada business environment. Inquire today to learn more about leasing this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.292
    Latitude
    36.2189
    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
    $6,968
    $63,120
    $169,851
    $232,971
    -
    $180,343
    $485,289
    $665,632

    Comparable in this City

    • Value Estimation
      $695,000
      3,732 SF

      3200 Soaring Gulls Dr Ste, Unit 101

      OFFICE BUILDING • 3,732 SF
      3200 Soaring Gulls Dr Ste, Las Vegas, NV 89129-2198
      View Details
    • Value Estimation by Request
      2,232 SF

      3200 Soaring Gulls Dr Ste, Unit 107

      OFFICE BUILDING • 2,232 SF
      3200 Soaring Gulls Dr Ste, Las Vegas, NV 89129-2198
      View Details
    • Value Estimation
      $995,000
      5,643 SF

      9030 Cheyenne Ave, Unit 120

      OFFICE BUILDING • 5,643 SF
      9030 Cheyenne Ave, Las Vegas, NV 89129-8940
      View Details
    • Value Estimation
      $700,000
      3,840 SF

      9080 Cheyenne Ave Ste, Unit 120

      OFFICE BUILDING • 3,840 SF
      9080 Cheyenne Ave Ste, Las Vegas, NV 89129-8938
      View Details
    • Value Estimation by Request
      1.47 Acres

      9960 Cheyenne Ave

      PROFESSIONAL BUILDING • 1.47 Acres
      9960 Cheyenne Ave, Las Vegas, NV 89129-7701
      View Details
    • Value Estimation
      $990,000
      4,992 SF

      9020 Cheyenne Ave

      OFFICE BUILDING • 4,992 SF
      9020 Cheyenne Ave, Las Vegas, NV 89129-8932
      View Details

    Similar Nearby for Sale

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      Las Vegas Office Building For Sale

      36,200 SF office building on 2.81 acres.
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    • $6,100,000
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      Vacant Office Building Near Summerlin

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    • $2,900,000
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      Established Office Building For Sale

      7,468 SF office building on 0.78 acres, built 2004.
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    • Contact for pricing
      74,920 SF

      Vacant Office Building For Sale

      Vacant office building with parking garage and freeway access.
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    • $8,461,000
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      Las Vegas Office Building For Sale

      33,980 SF office building on 2.3 acres.
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    Similar Nearby for Lease

    • $2 SF/Yr
      1,286 SF

      Medical Office Space Available

      Medical office space for lease with on-site amenities.
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      View Details
    • $1.75 SF/Yr
      12,896 SF

      Pointe North Office Campus

      Office campus near Northwest Medical District with flexible floor plans.
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      View Details
    • $26 SF/Yr
      323,000 SF

      Cheyenne Corporate Center: Las Vegas Office Space

      Las Vegas office suites, ample parking, modern design.
      3301 Cheyenne Ave & Buffalo Dr, Las Vegas, NV 89129
      View Details
    • $2 SF/Yr
      6,328 SF

      Remodeled Office Space Available

      Office space with remodeled common areas, high parking ratio.
      3291 N Buffalo Dr, Las Vegas, NV 89129
      View Details
    • $2 SF/Yr
      3,640 SF

      Medical Office Space Available

      Medical office space in Las Vegas Medical District for rent.
      8630 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on Cheyenne Avenue

      Retail space with excellent visibility and ample parking.
      7450 W Cheyenne Ave, Las Vegas, NV 89129
      View Details
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    Las Vegas, NV 89129-8928
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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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