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Nevada Commercial Real Estate
BuildingSearch.com has a wide variety of Nevada commercial real estate listings ranging from office space and retail to industrial properties. Nevada is located in the western region of the United States. The state’s nickname is “The Silver State” due to its large number of silver deposits that were discovered there. Nevada is the seventh largest state in area in the United States. About 86% of the state’s land is owned by the federal government under various jurisdictions. There are about 2.6 million residents, with over 85% of the population residing in Las Vegas and Reno. The state is known for its marriage and divorce proceedings, gambling, and more.
Nevada commercial real estate provides homes for businesses in a diverse economy. Nevada was ranked as having the fifth best business climate among the 50 states. One of the benefits of expanding or relocating your business with commercial real estate in Nevada is its tax structure, Nevada has no corporate income tax, personal income tax, unitary tax, franchise tax, inventory tax, inheritance tax, estate and/or gift tax, or special intangible tax. Nevada is one of few states with no personal income tax and corporate income tax. The outstanding tax climate in Nevada is just one of the reasons to do business with Nevada commercial real estate. This distinguishes Nevada as offering a business environment very few states can match.
Resorts in Las Vegas, Reno, and Lake Tahoe attract visitors from around the world. The state’s agricultural outputs are cattle, hay, alfalfa, dairy products, onions, and potatoes. Its industrial outputs are tourism, mining, machinery, printing and publishing, food processing, and electrical equipment.
Nevada’s office market experienced a slow first quarter in 2008, adding only 427,900 SF to inventory. Net absorption was negative this quarter, with 205,206 fewer occupied SF than last quarter. Vacancy is now 13.4%. Employment in the Professional & Business Services increased by 3,300 jobs this quarter. Overall the commercial real estate market in Nevada is pretty steady and is still growing.
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