1380 Sahara AveLas Vegas, NV 89104

Property Details for 1380 Sahara Ave

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

2,928 SF

Property type

Office buildings

APN

162-02-410-117

APU

16202410117

Description

This exceptional investment opportunity presents two fully leased, single-story medical office buildings totaling 5,344 square feet, situated on a 0.34-acre lot in Las Vegas, Nevada. The property, located at 1380 E Sahara Ave and 2408 Pardee Place, boasts a desirable C-1 zoning and ample parking (17 spaces). Building 1, at 1380 E Sahara Ave, comprises approximately 2,928 square feet and houses a long-term chiropractic tenant (14+ years) and a tax/insurance/real estate services tenant with a recent 5-year lease extension. Building 2, at 2408 Pardee Place, offers approximately 2,416 square feet and is occupied by a church with outreach services under a new 5-year lease. Recent renovations (2023) include new water heaters, garbage disposal, HVAC servicing, electrical upgrades, roof work, and updated parking lot lighting in Building 2. Both buildings have undergone remodeling over the years and are well-maintained. The property enjoys 100% occupancy, generating a strong net operating income (NOI) of $85,676 and a 6.00% cap rate. The asking price is $1,428,000, translating to $267.22 per square foot. The property features a Class C designation and is offered under a NNN lease structure. This is a rare opportunity to acquire a stable, high-performing medical office complex in a prime Las Vegas location. The property's strong tenant base, recent renovations, and high occupancy rate make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $690,916

  6.5%

  $637,769

  7%

  $592,214

• Comparable approach

  Method

  Valuation

  Relative Method

  $586,625

  Geo Method

  $586,625

• Alternative Use

  Use

  Valuation

  Residential

  $790,833

  Hospitality

  $724,399

  Educational

  $602,691

  Medical

  $623,419

  Retail

  $937,520

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1446

Longitude

-115.134

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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