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720 S 7th St
Las Vegas, NV 89101
Office Property For Sale

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.

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
$10,863,999 CAD
Price Per SF
$382.99 CAD
Cap Rate
3.53%
NOI
$382,956 CAD
Percent Leased
14%
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

Property Taxes

Property Taxes

Parcel Number
139-34-410-229
Land Assessment
$430,859 CAD
Improvements Assessment
$1,163,958 CAD
Total Assessment
$1,594,818 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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