For Sale
$8,500,000

720 7Th St Las Vegas, NV 89101

Prime Location, Value-Add Opportunity

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional three-story, 28,366 square foot office building sits on a 10.56-acre lot with an additional 10.19 acres of uncovered parking in Las Vegas' historic Lawyers Row. Currently 49% occupied, this Class B building offers a significant value-add opportunity with a current NOI of $298,362 and a pro-forma NOI of $606,762, resulting in a pro-forma cap rate of 7.14%. The asking price is $8,500,000 ($299.65/sq ft). The building features standard office improvements including a reception area, 34 private offices, three conference rooms, a break area, and four restrooms. It also boasts 67 covered parking spaces. Its prime location offers easy access to I-15 and I-515, and is in close proximity to several courthouses and government facilities, including the Federal Justice Center, Clark County Justice Center, Las Vegas Municipal Court, the new Federal Immigration Customs Enforcement Office, and the Nevada Supreme Court. The property is zoned for Professional Office and Parking (P-R), making it ideal for an owner-user seeking a prominent presence in a thriving downtown area surrounded by retail, entertainment, and restaurant amenities. This is a multi-tenant gross lease property.

Highlights

  • ±28,366 SF office building on a ±0.75-acre lot, including ±0.19 acres of surface parking.
  • Ideal owner-user opportunity in the historic Lawyer's Row district.
  • Features 34 private offices, 3 conference rooms, reception area, breakroom, and 4 restrooms.
  • 67 covered parking spaces plus additional surface parking.
  • Excellent location near major courts and government buildings.
  • Zoned P-R (Professional Office and Parking).

Property Details for 720 7Th St

Property type
Office properties
Square Feet
28,366 SF
Class
B
Buildings
1
Stories
3

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.160243375962
Longitude
-115.14361102065

FAQs

What type of property is this?
Office property - Prime Location, Value-Add Opportunity
Where is the office property located?
The property is located at 720 7Th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: ±28,366 SF office building on a ±0.75-acre lot, including ±0.19 acres of surface parking.; Ideal owner-user opportunity in the historic Lawyer's Row district.; Features 34 private offices, 3 conference rooms, reception area, breakroom, and 4 restrooms.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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720 7Th St
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