1555 Flamingo RdLas Vegas, NV 89119

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $10,811,900

  6.5%

  $9,980,190

  7%

  $9,267,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,666,490

  Geo Method

  $9,666,490

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $19,001,400

  Retail / Commercial

  $9,870,520

  Mixed-Use / Specialty

  $9,935,200

  Hospitality / Lodging

  $7,419,160

  Institutional / Educational

  $10,364,300

  Residential Income

  $12,126,200

  Multifamily

  $13,989,900

  Automotive / Energy

  $8,883,680

  Parking / Income-Based Land

  $2,966,990

  Restaurant / Food Service

  $5,380,500

  Healthcare / Senior Housing

  $10,086,000

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

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