5888 Sunset RdLas Vegas, NV 89118

Property Details for 5888 Sunset Rd

Year built

2006

Construction

CONCRETE

Lot size

2.08 AC

Property size (Sq ft)

30,286 SF

Property type

Office buildings

APN

163-36-401-029

APU

16336401029

Description

This exceptional Class A office building, Sundance Park, presents a compelling investment opportunity. Located at 5888 W Sunset Rd, Las Vegas, NV 89118, this two-story, 29,303 square foot building sits on a 2.08-acre lot. Built in 2006, the property boasts a desirable location in the Southwest Submarket, near I-215 and S Jones Blvd, and benefits from a CP zoning designation. Currently 100% leased, the building offers significant stability with long-term tenants, including credit tenants like Walgreens and ICW Insurance. Many suites have recently undergone renovations, minimizing future tenant improvement needs. The weighted average lease term (WALT) is attractive, with two major tenants occupying for seven years or more. The building's size and suite configurations align well with market demand, making it an ideal investment for buyers seeking strong cash flow in a high-demand area. The property's APN is 163-36-401-029. The asking price is $8,750,000. This is a turnkey investment with minimal future capital expenditures.

• CAP approach

  CAP return

  Valuation

  6%

  $6,579,496

  6.5%

  $6,073,380

  7%

  $5,639,568

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,067,800

  Geo Method

  $6,067,800

• Alternative Use

  Use

  Valuation

  Residential

  $7,530,992

  Hospitality

  $6,898,348

  Educational

  $5,739,344

  Medical

  $5,936,730

  Retail

  $8,927,869

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.0716

Longitude

-115.222

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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