2929 Maryland PkwyLas Vegas, NV 89109

Property Details for 2929 Maryland Pkwy

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.80 AC

Property size (Sq ft)

16,446 SF

Property type

Office properties

Property subtype

Office buildings

APN

162-10-703-003

APU

16210703003

Description

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.

• 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

Property Tax & Assessments

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