This exceptional investment opportunity presents a vacant, two-story, 16,422 square foot reinforced concrete office building situated on a 0.8-acre lot at 2929 S. Maryland Parkway, Las Vegas, NV 89109. The Class B building boasts a prime location in the Central East Las Vegas submarket, enjoying high visibility on Maryland Parkway with 35,885 cars passing daily. Its strategic placement along the Maryland Parkway Corridor Transit Oriented Development (TOD) plan and Bus Rapid Transit (BRT) route ensures excellent accessibility. The property benefits from proximity to major medical facilities including Sunrise Hospital and Sunrise Children's Hospital (directly across the street), Steinberg Diagnostic Medical Imaging, Intermountain Healthcare, and is within half a mile of Desert Parkway Behavioral Health Hospital and other rehab centers. Nearby amenities include the Las Vegas Country Club, Dollar General Market, and The Boulevard Mall. Easy access to Desert Springs Hospital, the Las Vegas Strip, UNLV, and Harry Reid International Airport further enhances its appeal. The building features ample rear parking with covered spots, pylon signage, ground floor controlled access with security glass, and unique fortified vault improvements including six walk-in safes and approximately 3,000 square feet of safe deposit boxes. The second floor, serviced by an elevator, includes 22 private rooms with 37 existing plumbing fixtures, presenting potential for conversion to an inpatient care facility. The C-2 General Commercial zoning allows for diverse uses, including but not limited to medical facilities, treatment centers, high-value storage, retail, and more. This property is ideal for a value-add investor or owner-user and could also be suitable for demolition and redevelopment.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$3,880,740
6.5%
$3,582,221
7%
$3,326,348
Comparable approach
Method
Valuation
Relative Method
$3,294,956
Geo Method
$3,294,956
Alternative Use
Use
Valuation
Residential
$4,441,954
Hospitality
$4,068,806
Educational
$3,385,199
Medical
$3,501,621
Retail
$5,265,865
Location Insight
City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1362
Longitude
-115.138
CBSA code
29820
CBSA name
LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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