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10415 S Rainbow Blvd, Las Vegas, NV
Stabilized retail center with long-term leases in Las Vegas.
Property Size7,926 SF
Lot Size5.49 Acres
Price / SF$530.78
Days on Market363
Property Features for 10415 S Rainbow Blvd
General Information
Standard status
Active
Size
7,926 SF
Lot size
5.49 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Las Vegas
(702) 727-3778
Listed By:
Adam Malan · License #63542
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Aug 8
Last Checked: Aug 22 at 9:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Las Vegas
Investment Insights
Based on property information with market context.
This stabilized retail center, a new construction completed in 2023, features long-term NNN leases. The two-tenant building offers ease of management. Strategically located on W. Cactus Rd. and Rainbow Blvd., the property benefits from a traffic volume of approximately 37,700 vehicles per day. It is situated just west of the I-15 Freeway, which experiences a traffic volume of approximately 153,000 vehicles per day. The property is positioned to serve nearby affluent neighborhoods. The property size is 7,926 square feet.
Key Highlights
- Brand new 2023 construction
- Stabilized retail center with long‑term NNN leases
- Strategically located on W. Cactus Rd. and Rainbow Blvd. carrying ±37,700 VPD
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$178,933
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,578,660
$3.6M
Cap Rate 7%
$2,556,186
$2.6M
Cap Rate 9%
$1,988,144
$2.0M
Market Conditions
NOI Build-Up for 7,926 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$271.1K $34.20/SF
− Vacancy
−$15.5K −$1.95/SF
EGI
$255.6K $32.25/SF
− OpEx
−$76.7K −$9.68/SF
NOI
$178.9K $22.58/SF
Area
Las Vegas, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,578,660
Cap Rate 7%
$2,556,186
Cap Rate 9%
$1,988,144
Alternative Uses
Best Use
Retail
$2.56M
$2.24M – $2.98M
NOI $178,933 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.74M
$2.40M – $3.20M
NOI $191,714 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cactus Shops — 10435 - 10475 S Rainbow Blvd, Las Vegas, NV 89139
Frequently Asked Questions
What type of property is this?
Shopping center - Stabilized retail center with long-term leases in Las Vegas.
Where is this shopping center located?
The property is located at 10415 S Rainbow Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $4,206,997.
What are key features of this property?
This property features: Brand new 2023 construction; Stabilized retail center with long‑term NNN leases; Strategically located on W. Cactus Rd. and Rainbow Blvd. carrying ±37,700 VPD
