8655 Eastern AveLas Vegas, NV 89123

Property Details for 8655 Eastern Ave

Year built

2005

Construction

FRAME

Lot size

1.83 AC

Property size (Sq ft)

22,386 SF

Property type

Office buildings

APN

177-14-710-012

APU

17714710012

Description

This exceptional 22,400 square foot, single-story Class A office building in Las Vegas, Nevada, presents a compelling value-add investment or owner-user opportunity. Located in a master-planned business park, this property boasts a prime location with over 400 feet of frontage on Eastern Avenue, a major thoroughfare experiencing over 32,000 vehicles daily. Currently 30% occupied with a three-year leaseback from an affiliate of Optum Health (6,800 SF), leaving 15,600 SF vacant. The building, constructed in 2005, sits on a 1.83-acre lot and is zoned Commercial General (CG), allowing for flexibility in future uses. Its strategic location offers easy access to I-215, connecting to major highways, and proximity to Dignity St. Rose Dominican Hospital-Sienna Campus, McCarran International Airport, and the Eastern Avenue retail corridor. The property's high-quality infrastructure and finishes minimize capital investment needs for new tenants. The current below-market rental rate of $113.50/SF presents significant upside potential. The surrounding Eastern Canyon Plaza, with 18 buildings totaling 208,000 square feet, currently shows no vacancies besides this asset, highlighting the area's strong demand. This property offers a variety of business plan options, including light tenant improvements to attract new tenants, conversion to multi-tenant use, or repurposing for various commercial uses such as behavioral health, medical office, educational facilities, or retail.

• CAP approach

  CAP return

  Valuation

  6%

  $4,729,446

  6.5%

  $4,365,642

  7%

  $4,053,810

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,485,035

  Geo Method

  $4,485,035

• Alternative Use

  Use

  Valuation

  Residential

  $5,413,396

  Hospitality

  $4,958,642

  Educational

  $4,125,532

  Medical

  $4,267,415

  Retail

  $6,417,494

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.0322

Longitude

-115.119

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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