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720 S 7th St

28,366 SF 10% Leased Office Building Las Vegas, NV 89101 $11,375,999 CAD ($401 CAD/SF) 3.53% Cap Rate

Investment Highlights

  • Ideal Owner/User building within the historic Lawyer’s Row
  • Close proximity to prominent courts and government facilities

Executive Summary

***PRICE REDUCTION*** We are pleased to offer an exceptional opportunity to purchase a ±28,366 SF two story building on an ±0.56 acre site. This opportunity is well-suited for an Owner / User on the second floor looking to create a professional image in a highly visible location in a highly popular area located within a historic district known as Lawyers Row in Downtown Las Vegas. The prime location is within close proximity to several prominent courts and government facilities such as the Federal Justice Center, Clark County Justice Center, Las Vegas Municipal Court, the new Federal Immigration Customs Enforcement Office (“ICE”) and the Nevada Supreme Court and is surrounded by numerous retail, entertainment and restaurant amenities. It is easily accessible to/from I-15 and the I-515 via W Charleston Boulevard, S Las Vegas Boulevard and accessibility improvements created by Project Neon. The subject is well serviced by a diverse mix of professional services offering a favorable demographic that provides for the potential of a multitude of uses to thrive in the area. The subject property consists of a ±28,366 SF building originally built in 1982 on a ±0.56 acre site. 3rd floor is leased, with ± 12,138 SF available for lease or an owner-user. 1st floor offer ± 1,182 SF available for lease. With the current vacancy, the building could qualify for an SBA loan for an owner-user, occupying approximately 53% of the building. Existing improvements offer standard office improvements which consist of a reception / waiting area, 45 private offices, a large conference room, break area andmultiple restrooms in addition to providing street, private and covered parking.

Data Room Click Here to Access

Property Facts

Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Building Size
28,366 SF
Building Class
C
Year Built
1982
Price
$11,375,999 CAD
Price Per SF
$401 CAD
Cap Rate
3.53%
NOI
$401,004 CAD
Percent Leased
10%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,183 SF
Slab To Slab
9’
Building FAR
1.15
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
PR, Las Vegas - Professional Office and Parking
Parking
67 Spaces (2.36 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Bus Line
  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 100
  • 1,182 SF
  • Office
  • -
  • Now
  • 2nd Floor
  • 12,138 SF
  • Office
  • Full Build-Out
  • Now

Existing improvements offer standard office improvements which consist of a reception / waiting area, 45 private offices, a large conference room, and multiple restrooms in addition to providing street, private and covered parking.

Space Size Space Use Condition Available
1st Fl-Ste 100 1,182 SF Office - Now
2nd Floor 12,138 SF Office Full Build-Out Now

1st Fl-Ste 100

Size
1,182 SF
Space Use
Office
Condition
-
Available
Now

2nd Floor

Size
12,138 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Floor

Size 12,138 SF
Space Use Office
Condition Full Build-Out
Available Now

Existing improvements offer standard office improvements which consist of a reception / waiting area, 45 private offices, a large conference room, and multiple restrooms in addition to providing street, private and covered parking.

Walk Score ®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 139-34-410-229
  • 139-34-410-210
Land Assessment
$608,422 CAD
Improvements Assessment
$1,281,790 CAD
Total Assessment
$1,890,212 CAD
  • Listing ID: 31849866

  • Date on Market: 2024-05-17

  • Last Updated:

  • Address: 720 S 7th St, Las Vegas, NV 89101

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