Medical Office Feasibility Study in the Las Vegas-Henderson-North Las Vegas, NV Metro Area

Clark County and a 504-heavy physicians' record

Every one of the 140 medical office loans in the Las Vegas area sits in Clark County. A location quotient of 2.34x puts the class far above its national weight, with a local rank of 3 of 39 and a national rank for the area of 11 of 488. Against a national median for the class, the $508,350 median loan is 1.49x, and half of loans fall from $176,625 to $1.0 million. SBA approved 140 loans between FY2017 and FY2026, worth $116.5 million.

An unusual program mix

The program split is 87 loans under SBA 7(a) and 53 under SBA 504, a share that shows heavy use of the real estate program. The Mortgage Capital Development Corporation alone has 32 504 loans on its books, worth $34.5 million. No loan is franchised, the printed share being 0.00%. Printed years show FY2017 with 13 loans, FY2018 with 16, FY2022 with 18 loans and $15.2 million, and FY2026 with 9; FY2020, FY2021 and FY2024 are withheld for lack of loans, and the blanks are not zeros.

7(a) holders

Zions Bancorporation, National Association leads 7(a) holders on count with 14 loans and $3.3 million; after which Wells Fargo Bank National Association has 11 loans and $6.8 million, U.S. Bank, National Association 9 worth $8.2 million, and Western Alliance Bank 5 worth $1.0 million. SBA reports the holder of today, and the table gives no guide to how any bank assesses a physician's application.

Cancellations

A minimum of 14.2% of FY2017 to FY2024 approvals ended in cancellation. Loan Analytics withholds the fuller cancellation measure and any charge-off rate for this cell, and neither should be assumed nil.

Testing a Las Vegas practice

A study should define the practice's payer mix and referral base, estimate the patient volume the site can serve and test collections against physician compensation, rent or ownership cost, and staff. Because 53 of these loans are under 504, the study should show whether the practice will own the building, how much space it needs and whether a future owner could re-let it to another medical user. The appraiser will test both the building and the practice earnings. Existing practices near the site have to be counted, since they set both demand and competition. Clark County is placed in a July 2023 area, and the limitation line on the page explains the rule.