FAQs

Common questions, straight answers.

Common questions about buying, selling, leasing and managing commercial property in Las Vegas.

Priority One Commercial provides real estate brokerage services and does not provide legal, tax, accounting or appraisal advice. Market information reflects conditions and available data at the time it is prepared. Please consult your attorney, CPA or other qualified professional regarding matters outside the scope of our brokerage services.

Start with a Broker Opinion of Value. We review comparable sales, current rents, competing properties and recent transactions in the surrounding submarket. We then provide a supported value range and explain how we reached it.

There is no cost, listing agreement or obligation to sell.

A Broker Opinion of Value is a broker’s opinion of probable selling price. It is not an appraisal and may not be used in place of one.

It depends on the property, your objectives and current market conditions.

We look at recent sales, available competition, financing conditions, tenant demand and what buyers are actively pursuing. We also consider the property’s occupancy, lease terms, condition and potential capital needs.

If the current market is unlikely to produce an acceptable result, we will tell you. Sometimes the better decision is to renew a tenant, address deferred maintenance or wait before bringing the property to market.

We begin with the property address and a short conversation about what you are trying to accomplish. We then review public records, comparable sales, current listings, rents and property-specific information.

You receive a supported value range with the reasoning behind it. If you decide to sell, we can use that work to develop the pricing and marketing strategy. If you do not, the information is still yours to use in planning.

The marketing plan is built around the property and its likely buyer pool.

We prepare professional marketing materials, place the property on the appropriate commercial listing platforms and distribute it to our network of Las Vegas commercial brokers, property owners, investors and owner-users.

We also identify and contact likely buyers directly. The broker who takes the listing remains involved in inquiries, tours, offers, negotiations and closing.

Price is important, but it is not the only consideration.

We compare the offer against current market evidence and review the buyer’s financial qualifications, financing, deposit, due-diligence period, requested contingencies and proposed closing date.

A slightly lower offer with strong qualifications and a clear path to closing may be more valuable than a higher offer carrying significant uncertainty. We explain the advantages and risks of each offer so the owner can make an informed decision.

Yes. We help owner-users identify and evaluate office, industrial, flex, retail and medical properties throughout Southern Nevada.

The search begins with the practical needs of the business, including location, size, parking, loading, electrical capacity, zoning, access and budget. We then compare the available properties, review comparable sales, prepare the offer and coordinate the transaction through due diligence and closing.

When needed, we can also introduce you to experienced commercial and SBA lenders, environmental consultants, inspectors and title professionals.

We can prepare a side-by-side comparison using your current rent, projected increases, anticipated occupancy period, available cash and the cost of properties that meet your requirements.

Ownership may provide greater control over occupancy costs and the ability to build equity, but it also requires capital and responsibility for the property. Leasing may offer more flexibility and require less upfront investment.

The right answer depends on your business, timing and financial position. Our role is to give you the property and market information needed to evaluate both options.

Ideally, nine to twelve months before your current lease expires. Larger or more specialized requirements may need additional time.

Starting early allows us to compare a renewal against credible alternatives, identify properties that are not publicly listed and negotiate without an approaching expiration date limiting your options.

Waiting until the final few months can reduce the number of workable properties and weaken your negotiating position.

Yes. A tenant does not have to relocate for our representation to be useful.

We review the existing lease, current market rents, competing spaces and the cost of relocating. We can then negotiate the renewal and compare it against available alternatives.

A credible understanding of the market gives you a stronger basis for discussing rental rate, term, improvements and other concessions with the property owner.

We begin by reviewing the property, competing spaces, current rents and the types of tenants most likely to use it.

We then develop the pricing and marketing strategy, distribute the space to tenant brokers and prospective users, coordinate tours and follow up on interest.

Before lease execution, we help evaluate the proposed use, business history and available financial information. The objective is to secure a tenant that fits both the property and the owner’s long-term plans.

The review may include the proposed use, business history, current financial statements, tax returns, guarantor information and other documentation appropriate to the transaction.

We also consider whether the use is compatible with the property, zoning, parking, neighboring tenants and the owner’s plans.

The property owner makes the final decision. Our role is to organize the available information, identify concerns and help negotiate appropriate lease terms and security.

Our services include rent billing and collection, monthly financial reporting, accounts payable and receivable, CAM reconciliations, budgeting, property inspections, maintenance coordination, vendor oversight, tenant relations and lease administration.

Managed properties also have access to an after-hours emergency line answered by our local team.

The exact scope is established in a written management agreement based on the property and the owner’s needs.

Tenants submit maintenance requests through our office or online portal. We determine the urgency, contact the appropriate vendor, monitor the work and maintain a record of the issue and response.

For after-hours emergencies, managed properties have access to an emergency line answered by our local team.

We work with established vendors and seek competitive pricing when the scope and urgency of the work allow it. Material repairs and expenditures are handled according to the authority established in the management agreement.

Owners receive financial statements monthly on an established reporting schedule.

Reporting generally includes an income statement, balance sheet, general ledger, rent roll, accounts-receivable information and supporting documentation. We also prepare annual operating budgets and CAM reconciliations when included in the management scope.

We review unusual expenses, collection issues and material property matters with the owner rather than simply sending a report without explanation.

Yes. We review the leases, rent roll, financial records, service contracts, tenant balances and current maintenance issues before establishing the transition plan.

We then coordinate the transfer of records and funds, notify tenants and vendors, establish new payment instructions and set up the property in our management system.

The goal is to complete the transition with as little disruption to the tenants and owner as possible.

We handle the real estate portion of an exchange, including pricing and selling the relinquished property, identifying replacement-property candidates and negotiating the purchase.

Exchange requirements and deadlines should be confirmed with your CPA and qualified intermediary. Bringing us into the process before the sale closes gives us more time to identify and evaluate replacement options.

Priority One is intentionally small. That means fewer handoffs, direct communication and decisions made locally. The people handling your assignment know the property, understand your objectives and remain accessible throughout the relationship.

We do not approach every assignment through the same process or pass clients between departments. The strategy is built around the property, and when circumstances change, you can speak directly with someone who knows the history and has the authority to respond.

We have served Southern Nevada since 1993 and focus exclusively on commercial real estate.