2975 S Rainbow Blvd
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2975 S Rainbow Blvd
38,784 SF 100% Leased Office Building Las Vegas, NV 89146 $7,300,000 ($188/SF) 7.55% Cap Rate
Investment Highlights
- Highly visible Location with Frontage on the Heavily Traveled South Rainbow Boulevard
- Renovated in 2020
- 38,784 SF Multi Tenant Use
- High Occupancy and Demand
Executive Summary
Professional office building with Frontage on South Rainbow Blvd between Sahara and Desert Inn. High occupancy with great mix of tenants including several Medical Offices, Insurance, Mortgage, Real Estate, and a Small Business Resource company. Extensive interior building renovation in 2019. Currently only +/-3,300 square feet vacant. Tenant leases are MG, ranging from 2-5 years remaining, with annual escalations.
Financial Summary (Actual - 2021) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2021) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
38,784 SF
Building Class
B
Year Built/Renovated
1990/2019
Price
$7,300,000
Price Per SF
$188
Cap Rate
7.55%
NOI
$551,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
38,784 SF
Building FAR
0.30
Lot Size
2.96 AC
Zoning
C-P, County - C-P
Parking
124 Spaces (3.2 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Controlled Access
- Courtyard
- Signage
- Reception
- Atrium
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 163-10-703-009 | Total Assessment | $1,816,134 (2024) |
| Land Assessment | $649,847 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,166,287 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
163-10-703-009
Land Assessment
$649,847 (2024)
Improvements Assessment
$1,166,287 (2024)
Total Assessment
$1,816,134 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2021
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2975 S Rainbow Blvd
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