2080 Flamingo RdParadise, NV 89119

  • Office properties
  • 92,930 SF
For Sale
$18,200,000 View listing

Property Details for 2080 Flamingo Rd

Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
3.94 AC
Property size (Sq ft)
92,930 SF
Property type
Office properties
Property subtype
Office buildings
APN
162-14-815-001
APU
16214815001

Description

This exceptional Las Vegas office property, the Flamingo Professional Center, offers 91,733 square feet of versatile space across two three-story buildings situated on a 4.25-acre lot (185,130 sq ft). Located in the desirable East Flamingo Office Corridor at 2080 E. Flamingo Rd., this Class B property boasts a prime location, directly across from Desert Springs Hospital and on the signalized corner of Flamingo Rd. and Burnham Ave. Built in 1985 and renovated in 2020, the center features 12 suites, with spaces ranging from 1,387 to 5,061 contiguous square feet, and a total of 32,700 square feet currently vacant. Amenities include ample parking (451 spaces), 10-foot ceilings, and a C-2 zoning designation. The property's diverse tenant mix includes medical, executive, creative, and traditional office spaces, as well as several government agencies. With its convenient location, modern updates, and flexible space options, the Flamingo Professional Center presents a compelling opportunity for businesses seeking a prominent presence in the thriving Las Vegas market. The property's parcel numbers are 162-14-815-001 & 002. The building has a 0.5 FAR.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $18,374,680
    6.5%
    $16,961,244
    7%
    $15,749,726
  • Comparable approach

    Method
    Valuation
    Relative Method
    $18,618,526
    Geo Method
    $18,618,526
  • Alternative Use

    Use
    Valuation
    Residential
    $21,031,942
    Hospitality
    $19,265,146
    Educational
    $16,028,375
    Medical
    $16,579,616
    Retail
    $24,933,028
2080 Flamingo Rd, Paradise, Nevada

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1157
Longitude
-115.124
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
$63,556
$660,760
$3,082,900
$3,743,660
-
$1,887,886
$8,808,286
$10,696,172

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