Second-Floor Restaurant with Service
For Sale
Contact for pricing
1405 E Sunset Rd, Las Vegas, NV 89119
Restaurant property with FF&E, Strip and airport views, and extensive on-site parking.
Property Size23,346 SF
Price / SF$383.36
Days on Market201
Property Features for 1405 E Sunset Rd
General Information
Standard status
Active
Size
23,346 SF
Property subtype
RETAIL
Listing Agency:
Colliers | Las Vegas
(702) 836-3708
Listed By:
Gabriel Skerlich · License #NV S183825
Source:
Moodyscre
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 30 at 1:26PM
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 23,346-square-foot restaurant property occupies the second floor of a mixed-use building in Las Vegas. The space includes a service bar and FF&E, with views toward the Strip and airport.
Parking includes 64 garage spaces and 26 surface spaces, representing a 3.85/1,000 parking ratio. The property is located at 1405 E Sunset Rd, Las Vegas, NV 89119.
Parking includes 64 garage spaces and 26 surface spaces, representing a 3.85/1,000 parking ratio. The property is located at 1405 E Sunset Rd, Las Vegas, NV 89119.
Key Highlights
- 23,346‑square‑foot restaurant property
- Second‑floor location in a mixed‑use building
- Service bar and FF&E included
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
$564,692
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
6.31%
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%
$11,293,840
$11.3M
Cap Rate 7%
$8,067,029
$8.1M
Cap Rate 9%
$6,274,356
$6.3M
Market Conditions
NOI Build-Up for 23,346 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
$798.4K $34.20/SF
− Vacancy
−$45.5K −$1.95/SF
EGI
$752.9K $32.25/SF
− OpEx
−$188.2K −$8.06/SF
NOI
$564.7K $24.19/SF
Area
Las Vegas, NV
Vacancy
5.70%
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%
$11,293,840
Cap Rate 7%
$8,067,029
Cap Rate 9%
$6,274,356
Alternative Uses
Best Use
Specialty Retail
$8.07M
$7.06M – $9.41M
NOI $564,692 @ 7.0% cap · market cap 6.31%
Second Best
Mixed Use
$5.04M
$4.41M – $5.87M
NOI $352,466 @ 7.0% cap · market cap 3.94%
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
720
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with FF&E, Strip and airport views, and extensive on-site parking.
Where is this conventional restaurant located?
The property is located at 1405 E Sunset Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: 23,346‑square‑foot restaurant property; Second‑floor location in a mixed‑use building; Service bar and FF&E included
