530 7Th StLas Vegas, NV 89101

Property Details for 530 7Th St

Year built

1939

Construction

FRAME

Lot size

0.17 AC

Property size (Sq ft)

2,954 SF

Property type

Office properties

Property subtype

Office buildings

APN

139-34-710-020

APU

13934710020

Description

This exceptional investment opportunity presents two adjacent properties totaling 7,405 square feet, available individually or as a package. Located at 530 S 7th St, Las Vegas, NV 89101, this prime downtown location benefits from a recent mixed-use zoning change, unlocking significant potential. The main property, a 2,954 square foot, single-story Class B creative office building, boasts a recent 2024 renovation, including new flooring, paint, bathrooms, and kitchen spaces, along with a new roof. It's currently vacant and ready for immediate occupancy. The building sits on a 7,405 square foot lot and features one unit within two buildings. The property's APN is 139-34-710-020. The adjacent property (sold separately or as part of a package deal) is also newly renovated. This strategic location is directly behind the Writers Block/Beverly Center and benefits from a nearby large parking structure. The asking price for this property is $999,000, while the combined package price for both properties is $1,650,000. This presents a unique chance to capitalize on the growth and revitalization of downtown Las Vegas. The year built is 1939. This is a prime opportunity for investors seeking a versatile and well-located asset in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $697,051

  6.5%

  $643,432

  7%

  $597,472

• Comparable approach

  Method

  Valuation

  Relative Method

  $591,834

  Geo Method

  $591,834

• Alternative Use

  Use

  Valuation

  Residential

  $797,856

  Hospitality

  $730,831

  Educational

  $608,043

  Medical

  $628,955

  Retail

  $945,845

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1627

Longitude

-115.142

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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