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The Herbert 801 S Main St 9,069 SF 100% Leased Retail Building Las Vegas, NV 89101 $8,367,063 CAD ($922.60 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- NOI: $389,807.28
- Prime Downtown Las Vegas location; civic and tech anchor, targeted economic development zone
- Stable income - steady rental income, strong tenant base, NNN leases, renewable options with increases
- Perfect 1031 Exchange property - ease of management; quality net leased investment
EXECUTIVE SUMMARY
Strategically positioned in the heart of Downtown Las Vegas, The Herbert is a distinctive 9,069-square-foot office and retail asset that blends modern innovation with historic charm. This fully leased property is anchored by the City of Las Vegas’ International Innovation Center, a key initiative supporting emerging technologies and global business collaboration. The building also features The Great Greek Mediterranean Grill, a popular regional restaurant brand that enhances the asset’s visibility and daily foot traffic.
Ideally located within the Las Vegas Innovation District, The Herbert benefits from strong municipal support, proximity to City Hall, and a dynamic urban environment attracting technology firms, entrepreneurs and public-private partnerships. With high-quality renovations, stable tenancy, and long-term municipal occupancy, The Herbert presents a rare investment opportunity with a strong, credit-worthy anchor and built-in demand drivers.
Ideally located within the Las Vegas Innovation District, The Herbert benefits from strong municipal support, proximity to City Hall, and a dynamic urban environment attracting technology firms, entrepreneurs and public-private partnerships. With high-quality renovations, stable tenancy, and long-term municipal occupancy, The Herbert presents a rare investment opportunity with a strong, credit-worthy anchor and built-in demand drivers.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,069 SF
Building Class
C
Year Built
1984
Price
$8,367,063 CAD
Price Per SF
$922.60 CAD
Cap Rate
6.50%
NOI
$543,859 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.67
Lot Size
0.31 AC
Zoning
C-M, Las Vegas
Parking
25 Spaces (2.76 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 139-34-301-015 | Improvements Assessment | $581,939 CAD |
| Land Assessment | $254,427 CAD | Total Assessment | $836,366 CAD |
PROPERTY TAXES
Parcel Number
139-34-301-015
Land Assessment
$254,427 CAD
Improvements Assessment
$581,939 CAD
Total Assessment
$836,366 CAD
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The Herbert | 801 S Main St
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