3505 E Harmon Ave
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3505 E Harmon Ave
4,000 SF 100% Leased Office Building Las Vegas, NV 89121 £947,222 (£237/SF) 5.86% Net Initial Yield
Executive Summary
This is a two-tenant medical/office building located just east of the Las Vegas Strip. The property has been occupied by Signature Dental Partners, a large regional dental company, for over ten years. There is one year remaining on the current lease, along with one 3- to 5-year option to renew, which includes annual increases. The other tenant, NV Land, has occupied 1,500 square feet for over 20 years. This local real estate company is on a yearly lease that ends on December 31, 2025.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£60,954
|
£15.24
|
| Other Income |
£4,734
|
£1.18
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£65,688
|
£16.42
|
| Taxes |
£3,947
|
£0.99
|
| Operating Expenses |
£6,294
|
£1.57
|
| Total Expenses |
£10,241
|
£2.56
|
| Net Operating Income |
£55,447
|
£13.86
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £60,954 |
| Annual Per SF | £15.24 |
| Other Income | |
|---|---|
| Annual | £4,734 |
| Annual Per SF | £1.18 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £65,688 |
| Annual Per SF | £16.42 |
| Taxes | |
|---|---|
| Annual | £3,947 |
| Annual Per SF | £0.99 |
| Operating Expenses | |
|---|---|
| Annual | £6,294 |
| Annual Per SF | £1.57 |
| Total Expenses | |
|---|---|
| Annual | £10,241 |
| Annual Per SF | £2.56 |
| Net Operating Income | |
|---|---|
| Annual | £55,447 |
| Annual Per SF | £13.86 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
4,000 SF
Building Class
B
Year Built
1999
Price
£947,222
Price Per SF
£237
Net Initial Yield
5.86%
NOI
£55,518
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
4,000 SF
Building FAR
0.33
Land Acres
0.28 AC
Zoning
C-P, County - Office Professional
Parking
24 Spaces (6 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Route
- Signage
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Las Vegas Dental Care
- Health Care and Social Assistance
- 2,400 SF
- -
- Modified Gross
- Jun 2026
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Las Vegas Dental Care | Health Care and Social Assistance | 2,400 SF | - | Modified Gross | Jun 2026 |
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PROPERTY TAXES
| Parcel Number | 161-19-318-004 | Total Assessment | £134,705 (2024) |
| Land Assessment | £30,353 (2024) | Annual Taxes | £3,947 (£0.99/sf) |
| Improvements Assessment | £104,352 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
161-19-318-004
Land Assessment
£30,353 (2024)
Improvements Assessment
£104,352 (2024)
Total Assessment
£134,705 (2024)
Annual Taxes
£3,947 (£0.99/sf)
Tax Year
2023
-
Elizabeth Ollivier -
Realty ONE Group, Inc.
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3505 E Harmon Ave
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