5864 S Durango Dr Unit #110
Las Vegas, NV 89113
Fully Occupied Long Term Absolute NNN Condo · Office Property For Sale

5864 S Durango Drive #110 is a 4,886-square-foot office condo located on a .27-acre land lot in SW Las Vegas. Originally constructed in 2020, the building features concrete tilt construction, contemporary styling, ample parking, and 60 surface parking spaces. The condo has been fully occupied since May by the sole tenant, LIV Studios, a prominent salon suite provider with 15 locations across three states. The space underwent over $500,000 tenant improvements, including brand-new medical-grade finishes. The property outperforms the local competition, with an established rental rate 16% higher than the area average and 3% additional annual escalations during the twelve-year term. 5864 S Durango Drive #110 is placed in the heart of Spring Valley, one of Las Vegas’s most popular suburbs, beginning just two miles west of the strip. The location is a popular residential destination, with many multi-family or single-family housing options, and benefits from local demand drivers, including four hospitals, The Bend and Arroyo Market Square retail hubs, and the Spanish Trail Country Club. Spring Valley has seen strong recent performance in the office sector, with rental rates climbing 6.5% annually and vacancy rates tightening an additional .5%. The condo is easily accessible by the greater MSA via an I-215 connection just down the road and out-of-state visitors via Harry Reid International Airport, less than 10 miles away. Spring Valley offers an exciting demographic profile within three miles of 5864 S Durango Drive #110. The population of 152,362 has grown 3% annually since 2010 and maintains an average household income of $89,389. Residents frequently leverage this additional purchasing power, with over $1.8 billion in consumer spending recorded during 2022. An ideal location, strong long-term lease, and robust market fundamentals make Spring Valley the perfect place for new investment.