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3505 E Flamingo Rd
Las Vegas, NV 89121
3505 E Flamingo · Office Property For Sale
Investment Highlights
- Current Tenancy: Three tenants with staggered leases, ranging from 1 to 5.5 years remaining.
- Zoning: Commercial General (CG), allowing for diverse commercial uses.
- Income Diversification: Property generates parking revenue from adjacent properties. Potential for ancillary income from billboard signage.
- Comparative Value: Priced below the rate for fully developed properties in the area, indicating a value-add opportunity.
- Lease Terms: Long-term leases set below current market rates, with a 5% annual escalation clause, which is above the 3% market average.
- Renovation Opportunities: Significant scope for interior renovations and re-tenanting at higher market rates.
Property Facts
Property Type
Office
Property Subtype
Building Size
12,000 SF
Building Class
B
Year Built
1993
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,000 SF
Building FAR
0.15
Lot Size
1.78 AC
Zoning
Commercial General (CG) - Established to accommodate traditional, commercial uses while allowing for the transition over time to a mix of retail and mixed-use development.
Parking
97 Spaces (9 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Signage
Property Taxes
| Parcel Number | 161-19-110-003 | Improvements Assessment | $276,645 |
| Land Assessment | $338,231 | Total Assessment | $614,876 |
Property Taxes
Parcel Number
161-19-110-003
Land Assessment
$338,231
Improvements Assessment
$276,645
Total Assessment
$614,876
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