3505 E Harmon Ave
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3505 E Harmon Ave
4,000 SF 100% Leased Office Building Las Vegas, NV 89121 $1,199,000 ($300/SF) 5.86% Cap Rate
Executive Summary
This is a two-tenant medical/office building located just east of the Las Vegas Strip. The property has been occupied by Signature Dental Partners, a large regional dental company, for over ten years. There is one year remaining on the current lease, along with one 3- to 5-year option to renew, which includes annual increases. The other tenant, NV Land, has occupied 1,500 square feet for over 20 years. This local real estate company is on a yearly lease that ends on December 31, 2025.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$77,255
|
$19.31
|
| Other Income |
$6,000
|
$1.50
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$83,255
|
$20.81
|
| Taxes |
$5,003
|
$1.25
|
| Operating Expenses |
$7,977
|
$1.99
|
| Total Expenses |
$12,980
|
$3.25
|
| Net Operating Income |
$70,275
|
$17.57
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $77,255 |
| Annual Per SF | $19.31 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $1.50 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $83,255 |
| Annual Per SF | $20.81 |
| Taxes | |
|---|---|
| Annual | $5,003 |
| Annual Per SF | $1.25 |
| Operating Expenses | |
|---|---|
| Annual | $7,977 |
| Annual Per SF | $1.99 |
| Total Expenses | |
|---|---|
| Annual | $12,980 |
| Annual Per SF | $3.25 |
| Net Operating Income | |
|---|---|
| Annual | $70,275 |
| Annual Per SF | $17.57 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
4,000 SF
Building Class
B
Year Built
1999
Price
$1,199,000
Price Per SF
$300
Cap Rate
5.86%
NOI
$70,275
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,000 SF
Building FAR
0.33
Lot Size
0.28 AC
Zoning
C-P, County - Office Professional
Parking
24 Spaces (6 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Signage
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Las Vegas Dental Care
- Health Care and Social Assistance
- 2,400 SF
- -
- Modified Gross
- Jun 2026
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Las Vegas Dental Care | Health Care and Social Assistance | 2,400 SF | - | Modified Gross | Jun 2026 |
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PROPERTY TAXES
| Parcel Number | 161-19-318-004 | Total Assessment | $170,510 (2024) |
| Land Assessment | $38,421 (2024) | Annual Taxes | $5,003 ($1.25/SF) |
| Improvements Assessment | $132,089 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
161-19-318-004
Land Assessment
$38,421 (2024)
Improvements Assessment
$132,089 (2024)
Total Assessment
$170,510 (2024)
Annual Taxes
$5,003 ($1.25/SF)
Tax Year
2023
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3505 E Harmon Ave
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