Las Vegas Industrial Market

Industrial buildings are often constructed for a specialized purpose.  Warehouse, distribution, industrial garage, manufacturing, research & development, industrial flex and airport hangars spring to mind.  Many of those same buildings are, however, used over time for a different purpose.  Buildings constructed as warehouse can be found built-out as offices.  Buildings constructed for light manufacturing purposes can become warehouses.  Some industrial buildings have Class A quality offices built within them, some have mezzanines with office build-out while others have no office build-out or mezzanine at all.  An appraiser never knows what type of finish will be found within an industrial building until they are inside.

The Las Vegas industrial market has a diverse group of industrial buildings within it that range from a few thousand square feet in size to over a million square feet.  Our studies indicate that Las Vegas industrial buildings have a typical floor area ratio (FAR) of about 0.45.  Most of the buildings are masonry constructed, and concrete tilt-up buildings appear to dominate the market.

Like other segments of the real estate market, industrial buildings depend on the health of the overall economy.  The 2008 recession has thus affected the supply and demand for industrial buildings, in part because residential housing market suppliers utilizes a great deal of industrial space for parts and equipment.          

Contact us with your questions or concerns regarding industrial market information or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net. 

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.