Freestanding Drive-Through
New
For Sale
$1,495,000
1900 E Charleston Blvd, Las Vegas, NV 89104
Vacant corner property with dual access, on-site parking, and an existing drive-through configuration.
Property Size1,975 SF
Lot Size0.38 Acres
Price / SF$756.96
Days on Market2
Property Features for 1900 E Charleston Blvd
General Information
Standard status
Active
Size
1,975 SF
Lot size
0.38 Acres
Property subtype
Restaurant
Lease Type
NNN
Site & Location
Drive-Thru
Yes
Traffic Count
32,500 vehicles/day
Amenities
Rare second-generation drive-thru opportunity
Freestanding ±1,975 SF building
Minutes from Downtown Las Vegas & Arts District | Near UMC, Las Vegas Medical District & UNLV School of Medicine
Dense infill trade area with more than 534,000 residents within five miles
SBA financing eligible (buyer to verify)
Building Details
Building Size
1,975 SF
Buildings
1
Listing Agency:
Marcus & Millichap - Las Vegas
Listed By:
Dustin Alvino · License #License(s): NV: BS.0143692, NJ: 2294556
(702) 215-7120
Source:
Marcusmillichap
Added: Sep 12
Last Checked: Sep 12 at 2:59PM
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 freestanding quick-service restaurant includes approximately 1,975 square feet on a 0.38-acre parcel. The building is vacant and was formerly operated as Rally's, with an existing drive-through layout, established site infrastructure, and on-site parking. Its configuration supports immediate occupancy by an owner-operator or leasing to another restaurant or drive-through user.
Positioned at the signalized southwest corner of E. Charleston Boulevard and Burnham Avenue, the property offers two access points and approximately 32,500 vehicles per day along Charleston Boulevard. The site is minutes from Downtown Las Vegas, the Arts District, the Las Vegas Medical District, and UNLV School of Medicine. The surrounding five-mile area includes more than 534,000 residents, along with a dense daytime employment base and established residential population.
Positioned at the signalized southwest corner of E. Charleston Boulevard and Burnham Avenue, the property offers two access points and approximately 32,500 vehicles per day along Charleston Boulevard. The site is minutes from Downtown Las Vegas, the Arts District, the Las Vegas Medical District, and UNLV School of Medicine. The surrounding five-mile area includes more than 534,000 residents, along with a dense daytime employment base and established residential population.
Key Highlights
- Approximately 1,975 square feet on 0.38 acres
- Existing drive‑through layout with established site infrastructure
- Signalized southwest corner of E. Charleston Boulevard and Burnham Avenue
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
$47,771
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
3.20%
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%
$955,420
$955.4K
Cap Rate 7%
$682,443
$682.4K
Cap Rate 9%
$530,789
$530.8K
Market Conditions
NOI Build-Up for 1,975 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
$67.5K $34.20/SF
− Vacancy
−$3.9K −$1.95/SF
EGI
$63.7K $32.25/SF
− OpEx
−$15.9K −$8.06/SF
NOI
$47.8K $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%
$955,420
Cap Rate 7%
$682,443
Cap Rate 9%
$530,789
Alternative Uses
Best Use
Specialty Retail
$682.4K
$597.1K – $796.2K
NOI $47,771 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
32,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Vacant corner property with dual access, on-site parking, and an existing drive-through configuration.
Where is this drive through restaurant located?
The property is located at 1900 E Charleston Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Approximately 1,975 square feet on 0.38 acres; Existing drive‑through layout with established site infrastructure; Signalized southwest corner of E. Charleston Boulevard and Burnham Avenue
