Silver Creek Office Park
Rare Multi-Parcel Development Opportunity in Southwest Las Vegas
Marketing description
Positioned in the heart of Las Vegas’s expanding south corridor, the Gilespie Street property presents a rare chance to acquire a versatile, office-and-retail zoned asset in one of the valley’s most accessible and rapidly growing locations. Just minutes from Harry Reid International Airport, the Las Vegas Strip, and the I-215 Beltway, the property sits at the intersection of convenience, visibility, and demand.
The surrounding area has experienced significant growth, driven by a combination of strong residential development, proximity to major employment centers, and the continued expansion of service and retail amenities. This mix creates a robust daytime population as well as steady consumer traffic, ensuring long-term demand for quality space. Gilespie Street is ideally positioned to serve professionals, retailers, and service providers who want to be close to both the airport and the Strip while remaining connected to the surrounding residential communities.
The property offers a compelling blend of stability and flexibility. The zoning allows for a wide variety of uses—from professional offices and medical practices to boutique retail and service-oriented tenants—providing multiple paths to value creation. Whether the strategy is to hold for stable income, reposition to attract a higher-yield tenant mix, or redevelop for a modern office-retail hybrid, the site offers a unique platform to capture growth in a market where quality supply remains limited.
Investment highlights
Upside, Value-Add Potential: Several vacancies exist in Building D (suites 400, 407, 409, 410, 411, 412, 417, 421, 424, 425, 427), representing immediate lease-up upside.
As of August 2025 the property generates annual income of $778,632.
The general office vacancy in Las Vegas is in the low-double digits (approx. 12.2% direct vacancy) but has shown year-over-year improvement.
Great owner/user opportunity.
Month-to-month tenants create opportunities for rent growth, repositioning, or converting to long-term leases with escalations.
Buyer can implement capital improvements and targeted leasing to reposition the asset, capture higher rents, and stabilize occupancy.
Vacant pads present excellent opportunity to expand the center and generate additional revenue or dispose a portion of the property.
Each building and land parcel has a separate parcel number providing new ownership the ability to finance, lease, or sell the assets individually or collectively, offering maximum flexibility in ownership strategy.
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