Freestanding Multi-Tenant Shopping
For Sale
$1,790,000
193 E Warm Springs Rd, Las Vegas, NV 89119
C-1-zoned commercial property with existing tenant improvements and flexible occupancy arrangements.
Property Size4,813 SF
Lot Size0.45 Acres
Price / SF$371.91
Days on Market59
Property Features for 193 E Warm Springs Rd
General Information
Standard status
Active
Size
4,813 SF
Class
B
Lot size
0.45 Acres
Property subtype
retail
Zoning
C-1
Additional Details
Highway Access
Yes
Amenities
drought resistant landscaping
Building Details
Year Built
2004
Buildings
1
Tenancy
Multi
Parking Ratio
4.38 per 1,000 SF
Listing Agency:
Las Vegas
(702) 522-5122
Listed By:
Travis Landes · License #S.0177027.LLC
(702) 522-5122
Source:
Property.jll
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 30 at 1:04PM
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 Las Vegas
Investment Insights
Based on property information with market context.
This freestanding commercial building contains approximately 4,813 SF on a 0.45-acre parcel and was constructed in 2004. C-1 zoning supports a range of commercial uses. The property includes existing tenant improvements and a parking arrangement supported by a cross-easement agreement, including 6 covered stalls.
Three occupants are on month-to-month leases, creating flexibility for an owner-user or an investor. A separate Farmers Insurance lease provides in-place rental income. The property is positioned along Interstate 215 in South Las Vegas near Warm Springs Road, with access to Harry Reid International Airport and Las Vegas Premium Outlets. The surrounding area includes more than 152k households within 5 miles, with average household income reported at $96K.
Three occupants are on month-to-month leases, creating flexibility for an owner-user or an investor. A separate Farmers Insurance lease provides in-place rental income. The property is positioned along Interstate 215 in South Las Vegas near Warm Springs Road, with access to Harry Reid International Airport and Las Vegas Premium Outlets. The surrounding area includes more than 152k households within 5 miles, with average household income reported at $96K.
Key Highlights
- 4,813 SF freestanding multi‑tenant building on 0.45 acres
- C‑1 zoning allowing for various commercial uses
- Built in 2004 with existing tenant improvements
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
$108,655
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
6.07%
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%
$2,173,100
$2.2M
Cap Rate 7%
$1,552,214
$1.6M
Cap Rate 9%
$1,207,278
$1.2M
Market Conditions
NOI Build-Up for 4,813 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
$164.6K $34.20/SF
− Vacancy
−$9.4K −$1.95/SF
EGI
$155.2K $32.25/SF
− OpEx
−$46.6K −$9.68/SF
NOI
$108.7K $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%
$2,173,100
Cap Rate 7%
$1,552,214
Cap Rate 9%
$1,207,278
Alternative Uses
Best Use
Retail
$1.55M
$1.36M – $1.81M
NOI $108,655 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.66M
$1.46M – $1.94M
NOI $116,417 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Well-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.
Similar Off Market Nearby
- ChargeItSpot — 7400 s las vegas blvd, las vegas, nv 89123
- The Annex — 7680 S Las Vegas Blvd, Las Vegas, NV 89123
- Las Vegas Outlet Center Annex — Las Vegas, NV 89123
- Sparklean — 7399-7499 Haven St, Las Vegas, NV 89119
- Energy Armor — 7400 S Las Vegas Blvd, Las Vegas, NV 89123
Frequently Asked Questions
What type of property is this?
Shopping center - C-1-zoned commercial property with existing tenant improvements and flexible occupancy arrangements.
Where is this shopping center located?
The property is located at 193 E Warm Springs Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 4,813 SF freestanding multi‑tenant building on 0.45 acres; C‑1 zoning allowing for various commercial uses; Built in 2004 with existing tenant improvements
