Walgreens Investment
For Sale
Contact for pricing
Pending
11001 S Eastern Ave, Las Vegas, NV 89052
High-performing Walgreens in affluent Henderson trade area.
Property Size14,490 SF
Days on Market294
Property Features for 11001 S Eastern Ave
General Information
Standard status
Pending
Size
14,490 SF
Property subtype
Retail
Zoning
CC
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
2001
Buildings
1
Listing Agency:
Marcus & Millichap - Las Vegas
(702) 215-7100
Listed By:
Dustin Alvino · License #NV BS.0143692
Source:
Crexi
Added: Nov 7, 2025
Changed: Aug 8
Last Checked: Jul 24 at 10:32AM
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 Marcus & Millichap - Las Vegas
Investment Insights
Based on property information with market context.
This corporate-guaranteed Walgreens offers a chance to acquire a high-performing asset in a rapidly growing trade area of Henderson. Situated on the corner of S Eastern Avenue and Sunridge Heights Parkway, the site experiences traffic of 27,000 vehicles per day. The surrounding area has a dense demographic profile with 7,689 households and an average income of $147,651 within a 1-mile radius. Its location near three major schools with over 4,500 students generates consistent foot traffic and pharmacy demand. The property is buffered by 1.4 miles from the nearest CVS and is located among national co-tenants, including Smith’s, Starbucks, and Wendy’s. With six years of lease term remaining and six renewal options, this offering provides stable cash flow and long-term repositioning potential in a supply-constrained corridor. The property size is 14,490 square feet. Nevada's pro-business climate, with no state income tax, corporate income tax, or franchise tax, makes this an exceptional investment opportunity.
Key Highlights
- Corporate‑guaranteed Walgreens with stable cash flow and limited landlord responsibilities.
- Located on a hard corner with high traffic volume (27,000 vehicles per day).
- Strong demographics: affluent and dense 1‑mile radius (7,689 households, $147,651 average income).
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
$355,315
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
5.92%
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%
$7,106,300
$7.1M
Cap Rate 7%
$5,075,929
$5.1M
Cap Rate 9%
$3,947,944
$3.9M
Market Conditions
NOI Build-Up for 14,490 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
$495.6K $34.20/SF
− Vacancy
−$21.8K −$1.50/SF
EGI
$473.8K $32.70/SF
− OpEx
−$118.4K −$8.17/SF
NOI
$355.3K $24.52/SF
Area
ZIP 89052
Vacancy
4.40%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
25.00%
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%
$7,106,300
Cap Rate 7%
$5,075,929
Cap Rate 9%
$3,947,944
Alternative Uses
Best Use
Specialty Retail
$5.08M
$4.44M – $5.92M
NOI $355,315 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$4.74M
$4.15M – $5.53M
NOI $331,627 @ 7.0% cap · market cap 5.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,152
Businesses Nearby
469k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 14%
Home Improvements & Furnishings 11%
Groceries 5%
Chick-fil-A
Dining
53,590 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
51,303 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
50,297 visits/mo
0.4 miles
McDonald's
Dining
38,599 visits/mo
0.2 miles
Chili's Grill & Bar
Dining
23,343 visits/mo
0.2 miles
Demographics for 89052, NV
59,987
Population
26,456
Households
2.3
Avg Household Size
46
Median Age
47%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
3,680
Density / Sq Mi
$98,462
Median Household Income
$57,772
Median Earnings
$1,938
Median Rent
$595,500
Median Home Value
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - High-performing Walgreens in affluent Henderson trade area.
Where is this drug store located?
The property is located at 11001 S Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Corporate‑guaranteed Walgreens with stable cash flow and limited landlord responsibilities.; Located on a hard corner with high traffic volume (27,000 vehicles per day).; Strong demographics: affluent and dense 1‑mile radius (7,689 households, $147,651 average income).
