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1820 E Lake Mead Blvd, North Las Vegas, NV 89030
Two-building retail center with full occupancy, multiple access points, and a prominent pylon sign.
Property Size28,129 SF
Price / SF$341.28
Days on Market9
Property Features for 1820 E Lake Mead Blvd
General Information
Standard status
Active
Size
28,129 SF
Property subtype
Retail
Zoning
Redevelopment Area Downtown Core (R-A-DC)
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$649,191
Building Details
Year Built
1979
Buildings
2
Tenancy
Multi
Listing Agency:
Cambridge Group
(702) 335-7719
Listed By:
Jordan Hanley · License #BS.014889
Source:
Crexi
Added: Jul 29
Changed: Aug 5
Last Checked: Aug 5 at 6:51AM
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 Cambridge Group
Investment Insights
Based on property information with market context.
The Square is a 28,129-square-foot shopping center comprising two buildings and three ingress and egress points. Constructed in 1979, the property is 100% leased and accommodates a mix of retail and professional-service tenants, including Pearl Vision and Cricket Wireless. A large pylon sign serves the corner exposure and is positioned to face the intersection of Lake Mead Boulevard and McDaniel Street.
The center occupies the corner of Lake Mead Boulevard and McDaniel Street in North Las Vegas, with access from the nearby I-15 and Lake Mead Boulevard interchange. The location records more than 34,000 vehicles per day, while the R-A-DC zoning designation identifies the property within the Redevelopment Area Downtown Core.
The center occupies the corner of Lake Mead Boulevard and McDaniel Street in North Las Vegas, with access from the nearby I-15 and Lake Mead Boulevard interchange. The location records more than 34,000 vehicles per day, while the R-A-DC zoning designation identifies the property within the Redevelopment Area Downtown Core.
Key Highlights
- 28,129 SF shopping center in two buildings
- 100% leased; built in 1979
- Three ingress and egress points
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
$338,831
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
3.53%
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%
$6,776,620
$6.8M
Cap Rate 7%
$4,840,443
$4.8M
Cap Rate 9%
$3,764,789
$3.8M
Market Conditions
NOI Build-Up for 28,129 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
$506.3K $18.00/SF
− Vacancy
−$22.3K −$0.79/SF
EGI
$484.0K $17.21/SF
− OpEx
−$145.2K −$5.16/SF
NOI
$338.8K $12.05/SF
Area
North Las Vegas, NV
Vacancy
4.40%
Lease Rate
$18.00 /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%
$6,776,620
Cap Rate 7%
$4,840,443
Cap Rate 9%
$3,764,789
Alternative Uses
Best Use
Retail
$4.84M
$4.24M – $5.65M
NOI $338,831 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.61M
$6.66M – $8.88M
NOI $532,853 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
438k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Groceries 25%
Apparel 18%
Shops & Services 16%
La Bonita Supermarkets
Groceries
59,682 visits/mo
0.3 miles
El Super
Groceries
50,056 visits/mo
0.3 miles
Ross Dress for Less
Apparel
45,567 visits/mo
0.3 miles
Five Below
Shops & Services
30,057 visits/mo
0.2 miles
Starbucks
Dining
22,855 visits/mo
0.3 miles
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-building retail center with full occupancy, multiple access points, and a prominent pylon sign.
Where is this shopping center located?
The property is located at 1820 E Lake Mead Blvd North Las Vegas, NV.
What is the asking price?
The asking price for this property is $9,600,000.
What are key features of this property?
This property features: 28,129 SF shopping center in two buildings; 100% leased; built in 1979; Three ingress and egress points
