500 Rancho DrLas Vegas, NV 89106

Property Details for 500 Rancho Dr

Year built

1988

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.63 AC

Property size (Sq ft)

47,304 SF

Property type

Office buildings

APN

139-32-702-005

APU

13932702005

Description

This exceptional office property, located at 500 S Rancho Drive in Las Vegas, Nevada, offers a diverse range of spaces ideal for various business needs. The property boasts a total of 47,300 square feet across five single-story buildings, situated on a generous 4.63-acre lot. Built in 1988 and extensively renovated in 2018, the Class B building features 18 suites, with a minimum divisible space of 1,350 square feet and a maximum contiguous space of 17,160 square feet. The property caters to diverse office styles, including executive, creative, and traditional office layouts, all benefiting from a 9-foot ceiling height. Ample parking is provided with 189 spaces. The location is highly desirable, within the Medical District submarket of Las Vegas, easily accessible via Rancho and Alta Cross Streets. The property is zoned P-R City of Las Vegas (APN: 139-327-02005) and offers modern amenities including fiber optic data availability and an EV charging station (ChargePoint). The landscaped grounds create a pleasant garden setting. This multi-tenant property presents a unique opportunity for businesses seeking flexible and well-appointed office space in a prime Las Vegas location.

• CAP approach

  CAP return

  Valuation

  6%

  $10,107,949

  6.5%

  $9,330,415

  7%

  $8,663,957

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,477,356

  Geo Method

  $9,477,356

• Alternative Use

  Use

  Valuation

  Residential

  $11,569,714

  Hospitality

  $10,597,796

  Educational

  $8,817,242

  Medical

  $9,120,481

  Retail

  $13,715,710

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1652

Longitude

-115.173

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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