1555 Flamingo RdLas Vegas, NV 89119

  • Office properties
  • 48,248 SF
For Lease
$1.32/SF/YR View listing

Property Details for 1555 Flamingo Rd

Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
3.67 AC
Property size (Sq ft)
48,248 SF
Property type
Office properties
Property subtype
Office buildings
APN
162-23-103-006
APU
16223103006

Description

This exceptional 48,248-square-foot office building, situated on 5 acres of land in the heart of Las Vegas, offers a diverse range of spaces perfect for various business needs. Built in 1974 and extensively renovated in 2002, the single-story building boasts a mix of traditional, executive, and creative office spaces, along with retail storefront options and mini-warehouse units. Currently, 10,000 square feet of space is available, divisible into units as small as 400 square feet, with a maximum contiguous space of 2,700 square feet. The property's prime location offers high visibility and accessibility, being conveniently close to UNLV, the Las Vegas Strip, and McCarran International Airport. All street-facing suites are designed as retail storefronts, while the remaining spaces are adaptable for offices, call centers, or even church use. Two approximate 800-square-foot storage units are also available. The building is classified as Class C and benefits from included utilities and CAM charges, making it an attractive and cost-effective option. The high traffic flow on the Flamingo corridor and readily available public transportation further enhance the property's appeal. The property is ready for immediate occupancy.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $9,539,886
    6.5%
    $8,806,049
    7%
    $8,177,045
  • Comparable approach

    Method
    Valuation
    Relative Method
    $9,666,487
    Geo Method
    $9,666,487
  • Alternative Use

    Use
    Valuation
    Residential
    $10,919,500
    Hospitality
    $10,002,204
    Educational
    $8,321,716
    Medical
    $8,607,913
    Retail
    $12,944,891
1555 Flamingo Rd, Las Vegas, Nevada

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1136
Longitude
-115.132
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
$36,368
$615,480
$783,727
$1,399,207
-
$1,758,514
$2,239,220
$3,997,734

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