Prime Retail Building Near
For Sale
$7,999,999
1700 South Main Street, Las Vegas, NV 89104
Retail building near the Las Vegas Strip and Arts District.
Property Size11,500 SF
Price / SF$695.65
Days on Market280
Property Features for 1700 South Main Street
General Information
Standard status
Active
Size
11,500 SF
Property subtype
Retail
Building Details
Building Size
11,500 SF
Year Built
1964
Listing Agency:
SVN | The Equity Group
(518) 859-9337
Listed By:
Nolan Julseth-White, CCIM · License #NV #BS.0146060.LLC
(518) 859-9337
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 14
Last Checked: Aug 28 at 7:51AM
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 SVN | The Equity Group
Investment Insights
Based on property information with market context.
Located in Las Vegas, near the Las Vegas Strip, the property at 1700 S Main Street features an approximately 11,500 square foot retail building on a 0.97-acre lot. Situated only 400 feet from the Strip and at the entrance to the Las Vegas Arts District, the property offers visibility. It is located in Downtown Las Vegas, near the Arts District and Brewery Row. The property is surrounded by tourist and local community traffic. The property is highly secure, featuring a fenced lot, an approximately 350 square foot vault, and roll-up security doors. Pylon signage is available. The property is located in an Opportunity Zone and the Area 1 Redevelopment Zone for the City of Las Vegas.
Key Highlights
- Prime location just 400 feet from the Las Vegas Strip.
- Located at the entrance to the Las Vegas Arts District & Brewery Row.
- Situated on a 0.97‑acre lot with a ±11,500 SF retail building.
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
$259,617
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
3.25%
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%
$5,192,340
$5.2M
Cap Rate 7%
$3,708,814
$3.7M
Cap Rate 9%
$2,884,633
$2.9M
Market Conditions
NOI Build-Up for 11,500 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
$393.3K $34.20/SF
− Vacancy
−$22.4K −$1.95/SF
EGI
$370.9K $32.25/SF
− OpEx
−$111.3K −$9.68/SF
NOI
$259.6K $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%
$5,192,340
Cap Rate 7%
$3,708,814
Cap Rate 9%
$2,884,633
Alternative Uses
Best Use
Retail
$3.71M
$3.25M – $4.33M
NOI $259,617 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,161 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,480
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
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?
Storefront property - Retail building near the Las Vegas Strip and Arts District.
Where is this storefront property located?
The property is located at 1700 South Main Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $7,999,999.
What are key features of this property?
This property features: Prime location just 400 feet from the Las Vegas Strip.; Located at the entrance to the Las Vegas Arts District & Brewery Row.; Situated on a 0.97‑acre lot with a ±11,500 SF retail building.
