2200 & 2250 S Rancho Dr
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2200 & 2250 S Rancho Dr
2 Office Properties Offered at $16,300,000 in Las Vegas, NV
Investment Highlights
- STABLE CASH FLOW INVESTMENT + DIVERSIFIED, LOW-RISK RENT ROLL
- POTENTIAL MEDICAL CONVERSION OPPORTUNITY
- ATTRACTIVE, CLASS B, OFFICE PROPERTY WITH I-15 FRONTAGE
Executive Summary
STABLE CASH FLOW INVESTMENT + DIVERSIFIED, LOW-RISK RENT ROLL
* Strong In-place cash flow with income growth. Existing rent roll offers an attractive income stream with annual increases.
* Diverse mix of tenants including legal firm, State of Nevada agencies, healthcare, trade school and unions. Combination of professional and medical uses.
ATTRACTIVE, CLASS B, OFFICE PROPERTY WITH I-15 FRONTAGE
* Convenient access to I-15 freeway at Sahara Ave; close to Downtown Las Vegas, Las Vegas Strip and Harry Reid International Airport.
* Adjacent to the City of Las Vegas designated area "Las Vegas Medical District," a medical hub with major hospitals, healthcare services and medical schools, including UMC Hospital, Valley Hospital, UNLV School of Dental Medicine, and the new UNLV Kirk Kerkorian School of Medicine.
POTENTIAL MEDICAL CONVERSION OPPORTUNITY
* Medical Office Conversion Options | Significant value creation by undertaking a full medical office conversion. Medical office buildings are outperforming their professional office building counterpart. The demand for healthcare related services has led a continuing surge in medical office occupancy, making them a more attractive investment option.
* Strong Medical Momentum | As of 23Q3, the medical office market experienced three consecutive quarters of positive absorption and decreased vacancy, 8.3% overall. Approximately 137,000 SF of new medical space delivered which is less than 2% of the total medical office market.
PRIME CENTRAL LOCATION
* Less than 10 minutes from the Regional Justice Center, U.S. Bankruptcy Court, U.S. Federal Court and U.S. Supreme Court.
* Amenity rich area with numerous dining options, retail, hotel and banking services
* Strong In-place cash flow with income growth. Existing rent roll offers an attractive income stream with annual increases.
* Diverse mix of tenants including legal firm, State of Nevada agencies, healthcare, trade school and unions. Combination of professional and medical uses.
ATTRACTIVE, CLASS B, OFFICE PROPERTY WITH I-15 FRONTAGE
* Convenient access to I-15 freeway at Sahara Ave; close to Downtown Las Vegas, Las Vegas Strip and Harry Reid International Airport.
* Adjacent to the City of Las Vegas designated area "Las Vegas Medical District," a medical hub with major hospitals, healthcare services and medical schools, including UMC Hospital, Valley Hospital, UNLV School of Dental Medicine, and the new UNLV Kirk Kerkorian School of Medicine.
POTENTIAL MEDICAL CONVERSION OPPORTUNITY
* Medical Office Conversion Options | Significant value creation by undertaking a full medical office conversion. Medical office buildings are outperforming their professional office building counterpart. The demand for healthcare related services has led a continuing surge in medical office occupancy, making them a more attractive investment option.
* Strong Medical Momentum | As of 23Q3, the medical office market experienced three consecutive quarters of positive absorption and decreased vacancy, 8.3% overall. Approximately 137,000 SF of new medical space delivered which is less than 2% of the total medical office market.
PRIME CENTRAL LOCATION
* Less than 10 minutes from the Regional Justice Center, U.S. Bankruptcy Court, U.S. Federal Court and U.S. Supreme Court.
* Amenity rich area with numerous dining options, retail, hotel and banking services
Property Facts
| Price | $16,300,000 | Number of Properties | 2 |
| Price / SF | $133.84 / SF | Individually For Sale | 0 |
| Cap Rate | 8% | Total Building Size | 121,789 SF |
| Sale Type | Investment | Total Land Area | 3.32 AC |
| Status | Active |
| Price | $16,300,000 |
| Price / SF | $133.84 / SF |
| Cap Rate | 8% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 121,789 SF |
| Total Land Area | 3.32 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2200 S Rancho Dr, Las Vegas, NV 89102 | Office | 51,789 SF | 1980 | - |
| 2250 S Rancho Dr, Las Vegas, NV 89102 | Office | 70,000 SF | 2004 | - |
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2200 & 2250 S Rancho Dr
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