Neighborhood Retail Strip
For Sale
$3,650,000
2520 S Eastern Ave, Las Vegas, NV 89169
Occupied neighborhood retail center with NNN leases, established service-oriented tenants, and access from both major streets.
Property Size8,719 SF
Lot Size0.61 Acres
Price / SF$418.63
Days on Market45
Property Features for 2520 S Eastern Ave
General Information
Standard status
Active
Size
8,719 SF
Lot size
0.61 Acres
Property subtype
Shopping Strip
Occupancy
100%
Site & Location
Corner Location
Yes
Pylon Signage
Yes
Traffic Count
77,500 vehicles/day
Road Access
Yes
Additional Details
Cap Rate
6%
Amenities
Highly Trafficked Prime, Signalized, Hard-Corner Location Featuring 77,500+ Vehicles Per Day
Eight Daily Needs Restaurant, Grocery & Service Oriented Tenants Including Subway and Total Wireless (Verizon)
Strong Infill Las Vegas Retail Corridor Surrounded by Multiple Regional and National Retailers
Close Proximity to the Las Vegas Strip, Downtown Las Vegas, Valley High School, Sunrise Hospital and UNLV
Tremendous Population Density with 206,655 Residents in the 3-Mile Radius and Daytime Population of 293,486
Durable Rent Roll: Long Term Tenancy with All Except Two of the Tenants Having Occupied for 15+ Years
Irreplaceable Hard Corner Location with Small Unit Sizes and Ease of Access
Annual Rental Increases with Most Tenants - All NNN Leases
Building Details
Building Size
8,719 SF
Year Built
1991
Tenancy
Multi
Parking Ratio
5.05 per 1,000 SF
Listing Agency:
Marcus & Millichap - Las Vegas
(702) 215-7125
Listed By:
Candace Bare · License #License(s): NV: S.0171556
(702) 215-7125
Source:
Marcusmillichap
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 30 at 1:16PM
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.
Built in 1991, this 8,719-square-foot strip center sits on a 0.61-acre parcel and contains eight retail and service-oriented tenant spaces. The property is fully occupied, with several occupants in place for more than 15 years. Lease structures are NNN, and most agreements include annual rent escalations. Existing improvements include a new pylon sign and a resurfaced parking lot. The property is being sold as-is.
Located at 2520 S Eastern Ave, the center benefits from a signalized intersection, curb cuts on both major streets, and reported traffic counts exceeding 77,500 vehicles per day. The parking ratio is 5.05 spaces per 1,000 square feet. Nearby economic drivers identified for the property include the Las Vegas Strip, Interstate 11, Valley High School, UNLV, Harry Reid International Airport, and Sunrise Hospital.
Located at 2520 S Eastern Ave, the center benefits from a signalized intersection, curb cuts on both major streets, and reported traffic counts exceeding 77,500 vehicles per day. The parking ratio is 5.05 spaces per 1,000 square feet. Nearby economic drivers identified for the property include the Las Vegas Strip, Interstate 11, Valley High School, UNLV, Harry Reid International Airport, and Sunrise Hospital.
Key Highlights
- 8,719 SF retail strip center on a 0.61‑acre parcel
- Eight occupied retail and service‑oriented tenant spaces
- NNN lease structures with annual rent escalations in most leases
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
$196,835
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
5.39%
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%
$3,936,700
$3.9M
Cap Rate 7%
$2,811,929
$2.8M
Cap Rate 9%
$2,187,056
$2.2M
Market Conditions
NOI Build-Up for 8,719 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
$298.2K $34.20/SF
− Vacancy
−$17.0K −$1.95/SF
EGI
$281.2K $32.25/SF
− OpEx
−$84.4K −$9.68/SF
NOI
$196.8K $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%
$3,936,700
Cap Rate 7%
$2,811,929
Cap Rate 9%
$2,187,056
Alternative Uses
Best Use
Retail
$2.81M
$2.46M – $3.28M
NOI $196,835 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.01M
$2.64M – $3.51M
NOI $210,895 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
77,500 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Explore this area
Business Placement
Demographics for 89169, NV
25,938
Population
14,070
Households
1.8
Avg Household Size
36
Median Age
19%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
7,629
Density / Sq Mi
$39,740
Median Household Income
$32,457
Median Earnings
$1,159
Median Rent
$299,900
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?
Strip mall - Occupied neighborhood retail center with NNN leases, established service-oriented tenants, and access from both major streets.
Where is this strip mall located?
The property is located at 2520 S Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 8,719 SF retail strip center on a 0.61‑acre parcel; Eight occupied retail and service‑oriented tenant spaces; NNN lease structures with annual rent escalations in most leases
