8655 Eastern AveLas Vegas, NV 89123

For Sale
Call for price

Value-add office/medical building, high visibility.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 22,400 square foot, single-story Class A office building in Las Vegas, Nevada, presents a compelling value-add investment or owner-user opportunity. Located in a master-planned business park, this property boasts a prime location with over 400 feet of frontage on Eastern Avenue, a major thoroughfare experiencing over 32,000 vehicles daily. Currently 30% occupied with a three-year leaseback from an affiliate of Optum Health (6,800 SF), leaving 15,600 SF vacant. The building, constructed in 2005, sits on a 1.83-acre lot and is zoned Commercial General (CG), allowing for flexibility in future uses. Its strategic location offers easy access to I-215, connecting to major highways, and proximity to Dignity St. Rose Dominican Hospital-Sienna Campus, McCarran International Airport, and the Eastern Avenue retail corridor. The property's high-quality infrastructure and finishes minimize capital investment needs for new tenants. The current below-market rental rate of $113.50/SF presents significant upside potential. The surrounding Eastern Canyon Plaza, with 18 buildings totaling 208,000 square feet, currently shows no vacancies besides this asset, highlighting the area's strong demand. This property offers a variety of business plan options, including light tenant improvements to attract new tenants, conversion to multi-tenant use, or repurposing for various commercial uses such as behavioral health, medical office, educational facilities, or retail.

Highlights

  • Short-term rental income from a three-year leaseback with an Optum Health affiliate for 6,800 SF (30% occupancy).
  • Below-market rental rate of $113.50/SF.
  • 15,600 SF (70%) vacant, ideal for owner-user occupancy.
  • Building divisible into multiple suites for office, medical, or retail tenants.
  • Located in Eastern Canyon Plaza, a 208,000 SF business park with currently no vacancies (excluding this property).
  • High visibility with approximately 400 feet of frontage on Eastern Avenue, a major thoroughfare with over 32,000 vehicles daily.

Property Details for 8655 Eastern Ave

Property type
Other office properties, Medical offices
Square Feet
22,400 SF
Class
A
Year Built
2005
Buildings
1
Stories
1
Lot Size (sq. ft)
79,715 SF
Units
1

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.032603694937
Longitude
-115.11870208318
8655 Eastern Ave, Las Vegas, Nevada

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8655 Eastern Ave
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