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

    8989 Flamingo Rd Las Vegas, NV 89147

    • Office buildings
    • 4,508 SF
    • 0.33 lot acres
    For Lease
    View listing
    $84 SF/Yr
    Last Sale
    Jul 15, 2022
    $1,325,000
    Value Estimations
    $1,410,000
    Cap Rate Potential
    4.9%
    Office buildings
    Location Intelligence
    Property ID
    US62-1279128
    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

    • I-Meta / Big Box & Wholesale Store
    • Miles2GO / Life Coach / Community Health Centre
    • Boss Lady / Business To Business Service

    Property Details for 8989 Flamingo Rd

    Year built
    2006
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Property size
    4,508 SF
    Property type
    Office buildings
    APN
    163-20-517-019
    APU
    16320517019

    Description

    This exceptional single-story office building, totaling 14,375 square feet, is situated on a 0.33-acre lot at 8989 W Flamingo Road in Las Vegas, Nevada (zip code 89147). Built in 2006, the property is zoned CG and features a convenient executive office suite configuration. Five individual suites are currently available, ranging in size from 100 to 212 square feet, perfect for small businesses or entrepreneurs. The building boasts a spacious conference room, ideal for meetings and presentations, and a well-equipped break room for employee convenience. High-speed internet access is readily available throughout the building, ensuring seamless connectivity. Tenants can choose between furnished or unfurnished spaces to best suit their needs and preferences. Dedicated parking is provided for added convenience, and a welcoming reception area creates a professional first impression for clients and visitors. The property's location in the Las Vegas submarket offers excellent accessibility and visibility. The property's APN is 16320517019.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,235,000
      6.5%
      $1,140,000
      7%
      $1,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,638,000
      Market price range: $1.06M - $1.88M
      AI Estimate
      $903,000
      Market price range: $312k - $1.29M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,520,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Change: +29% Conversion: Difficult
      RETAIL STORES
      $1,685,000
      Change: +11% Conversion: Moderate
      MEDICAL BUILDING
      $1,240,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.287
    Latitude
    36.1137
    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
    $6,902
    $100,625
    $212,311
    $312,936
    -
    $287,500
    $606,603
    $894,103

    Comparable in this City

    • Value Estimation
      $2,220,000
      15,244 SF

      8367 Flamingo Rd

      PROFESSIONAL BUILDING • 15,244 SF
      8367 Flamingo Rd, Las Vegas, NV 89147-4168
      View Details
    • Value Estimation
      $560,000
      1,141 SF

      9494 Flamingo Rd Ste, Unit 101

      OFFICE BUILDING • 1,141 SF
      9494 Flamingo Rd Ste, Las Vegas, NV 89147-5718
      View Details
    • Value Estimation by Request
      1,105 SF

      9488 Flamingo Rd Ste, Unit 101

      OFFICE BUILDING • 1,105 SF
      9488 Flamingo Rd Ste, Las Vegas, NV 89147-5717
      View Details
    • Value Estimation by Request
      1,711 SF

      9500 Flamingo Rd Ste, Unit 102

      OFFICE BUILDING • 1,711 SF
      9500 Flamingo Rd Ste, Las Vegas, NV 89147-5720
      View Details
    • Value Estimation by Request
      1,105 SF

      9494 Flamingo Rd Ste, Unit 102

      OFFICE BUILDING • 1,105 SF
      9494 Flamingo Rd Ste, Las Vegas, NV 89147-5718
      View Details
    • Value Estimation by Request
      1,184 SF

      9488 Flamingo Rd Ste, Unit 103

      OFFICE BUILDING • 1,184 SF
      9488 Flamingo Rd Ste, Las Vegas, NV 89147-5717
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $4 SF/Yr
      29,033 SF

      Office Building with Southwest Views

      Office building with prominent signage and dedicated parking. Available Q3 2025.
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      View Details
    • $27 SF/Yr
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      Metreon Las Vegas Office Space

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      View Details
    • $84 SF/Yr
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      Executive Suites, Las Vegas

      Prime Office Space, 5 Units Available
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      View Details
    • $22 SF/Yr
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      Las Vegas Creative Office Space

      3,365 sq ft, Multiple Tenants Available
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      View Details
    • Contact for pricing
      2,218 SF

      Office Space at Flamingo & Fort Apache

      Office space available at the intersection of Flamingo and Fort Apache.
      9460 West Flamingo Rd, Las Vegas, NV 89147
      View Details
    • $2 SF/Yr
      22,587 SF

      Retail/Office Space in Ashley Park

      Retail/office space in a high-traffic, Albertsons-anchored shopping center.
      4075 S Durango Dr, Las Vegas, NV 89147
      View Details
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    8989 Flamingo Rd
    Las Vegas, NV 89147
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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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