6010 Durango DrLas Vegas, NV 89113

Property Details for 6010 Durango Dr

Year built

2008

Construction

FRAME

Lot size

0.55 AC

Property size (Sq ft)

23,778 SF

Property type

Office buildings

APN

163-33-213-048

APU

16333213048

Description

This exceptional 25,000-square-foot, two-story Class B creative office building in Las Vegas, Nevada presents a compelling owner-user or investment opportunity. Located at 6010 S Durango Dr, in the desirable Durango Village, this 2008-built property underwent renovations in 2012 and boasts a modern, open-concept design with glass walls and state-of-the-art lighting. Currently 100% occupied by two credit-rated tenants (a tech company and a law firm) under a modified lease with a 7-year term commencing June 1, 2018, and expiring May 31, 2025, with a remaining term of 0.5 years and a 3-year renewal option. The building features multiple conference rooms, private offices, a library, copy/printer area, reception area, break room, and a dedicated elevator. Ample parking is available with 25 reserved covered spaces and 35 unreserved surface spaces. The property sits on a 24,000-square-foot lot with 25,000 square feet of air rights. Its prime location is just half a mile from the 215 Beltway, near The UnCommons, IKEA, and Durango Station Casino, and only six miles from the Las Vegas Strip and McCarran International Airport. The building offers a strong net operating income (NOI) of $590,000, resulting in a 7.38% cap rate, and an asking price of $8,000,000 ($320 per square foot). Annual rent bumps are set at 3%. The property is zoned for commercial use and features a professional management team. This is an ideal opportunity for an owner-user seeking a high-quality, well-located space or an investor looking for a strong return.

• CAP approach

  CAP return

  Valuation

  6%

  $5,165,662

  6.5%

  $4,768,304

  7%

  $4,427,710

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,763,922

  Geo Method

  $4,763,922

• Alternative Use

  Use

  Valuation

  Residential

  $5,912,696

  Hospitality

  $5,415,998

  Educational

  $4,506,047

  Medical

  $4,661,016

  Retail

  $7,009,406

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.0793

Longitude

-115.278

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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