C-2 Zoned Neighborhood Shopping
For Sale
Contact for pricing
1250 S Nellis Boulevard, Las Vegas, NV 89110
Multi-building retail asset with established commercial occupancy and a broad tenant mix.
Property Size54,801 SF
Lot Size5.04 Acres
Price / SF$456.20
Days on Market142
Property Features for 1250 S Nellis Boulevard
General Information
Standard status
Active
Size
54,801 SF
Lot size
5.04 Acres
Property subtype
Retail
Zoning
C-2 - General Commercial
Net Operating Income
$1,933,844
Additional Details
Cap Rate
5.5%
Building Details
Year Built
1987
Buildings
2
Tenancy
Multi
Listing Agency:
ERA Brokers Consolidated
(702) 595-6244
Listed By:
Mark Anthony Rua · License #NV 26655
Source:
Crexi
Added: Apr 12
Changed: Aug 30
Last Checked: Jun 25 at 2:11PM
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 ERA Brokers Consolidated
Investment Insights
Based on property information with market context.
This retail center comprises two buildings totaling 54,801 square feet on approximately 5.04 acres. The primary building at 1250 S Nellis was constructed in 1987 and contains 52,281 square feet, while the 2,520-square-foot building at 1292 S Nellis was built in 1989. The property is located in unincorporated Clark County within Sunrise Manor and carries C-2 General Commercial zoning.
The center includes a varied roster of retail, restaurant, financial-services, and entertainment users, including Dollar Tree, Frijoles Restaurant, Nevada One Credit Union, and Bourbon Street Sports Bar. The property also generates sign income and is offered with a reported 5.5% cap rate.
The center includes a varied roster of retail, restaurant, financial-services, and entertainment users, including Dollar Tree, Frijoles Restaurant, Nevada One Credit Union, and Bourbon Street Sports Bar. The property also generates sign income and is offered with a reported 5.5% cap rate.
Key Highlights
- 54,801 SF across two retail buildings
- 5.04 +/- 5.5% acres in unincorporated Clark County
- C‑2 General Commercial zoning
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
$779,221
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
3.12%
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%
$15,584,420
$15.6M
Cap Rate 7%
$11,131,729
$11.1M
Cap Rate 9%
$8,658,011
$8.7M
Market Conditions
NOI Build-Up for 54,801 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
$1.22M $22.20/SF
− Vacancy
−$103.4K −$1.89/SF
EGI
$1.11M $20.31/SF
− OpEx
−$334.0K −$6.09/SF
NOI
$779.2K $14.22/SF
Area
ZIP 89110
Vacancy
8.50%
Lease Rate
$22.20 /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%
$15,584,420
Cap Rate 7%
$11,131,729
Cap Rate 9%
$8,658,011
Alternative Uses
Best Use
Retail
$11.13M
$9.74M – $12.99M
NOI $779,221 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.02M
$15.77M – $21.03M
NOI $1,261,563 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89110, NV
73,954
Population
23,701
Households
3.1
Avg Household Size
32
Median Age
10%
College-Educated
68%
High-School Grad
9.6 sq mi
ZIP Area
7,704
Density / Sq Mi
$54,858
Median Household Income
$34,509
Median Earnings
$1,292
Median Rent
$304,300
Median Home Value
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
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Similar Off Market Nearby
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- Orchards Marketplace — Sloan Ln &, E Charleston Blvd, Las Vegas, NV 89142
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-building retail asset with established commercial occupancy and a broad tenant mix.
Where is this shopping center located?
The property is located at 1250 S Nellis Boulevard Las Vegas, NV.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: 54,801 SF across two retail buildings; 5.04 +/- 5.5% acres in unincorporated Clark County; C‑2 General Commercial zoning
