North Las Vegas Retail
For Sale
Contact for pricing
2987 Las Vegas Blvd N, North Las Vegas, NV
Stabilized retail asset with redevelopment potential in North Las Vegas.
Property Size50,358 SF
Lot Size3.80 Acres
Price / SF$150.92
Days on Market364
Property Features for 2987 Las Vegas Blvd N
General Information
Standard status
Active
Size
50,358 SF
Lot size
3.80 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Las Vegas
(702) 727-3778
Listed By:
Adam Malan · License #63542
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Aug 15
Last Checked: Aug 24 at 9:02AM
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 Colliers | Las Vegas
Investment Insights
Based on property information with market context.
This stabilized retail asset, located in North Las Vegas, offers redevelopment and mark-to-market rent upside. The property features a new absolute NNN 5-year master lease backed by a proven operator. Benefiting from strong traffic, excellent visibility, and regional access, the property also presents versatile redevelopment potential. It is situated within a dynamic North Las Vegas submarket experiencing growth. The property has a size of 50358 square feet.
Key Highlights
- New absolute NNN 5‑year master lease backed by a proven operator
- Flexible seller financing available
- Stabilized asset with redevelopment and/or mark‑to‑market rent upside
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
$606,592
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
7.98%
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%
$12,131,840
$12.1M
Cap Rate 7%
$8,665,600
$8.7M
Cap Rate 9%
$6,739,911
$6.7M
Market Conditions
NOI Build-Up for 50,358 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
$906.4K $18.00/SF
− Vacancy
−$39.9K −$0.79/SF
EGI
$866.6K $17.21/SF
− OpEx
−$260.0K −$5.16/SF
NOI
$606.6K $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%
$12,131,840
Cap Rate 7%
$8,665,600
Cap Rate 9%
$6,739,911
Alternative Uses
Best Use
Retail
$8.67M
$7.58M – $10.11M
NOI $606,592 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.63M
$11.92M – $15.90M
NOI $953,942 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
169k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 49%
Apparel 2%
McDonald's
Dining
35,552 visits/mo
0.1 miles
Circle K
Shops & Services
31,955 visits/mo
0.2 miles
Dollar General
Shops & Services
12,194 visits/mo
0.5 miles
Wendy's
Dining
11,545 visits/mo
0.3 miles
Jack in the Box
Dining
10,018 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Stabilized retail asset with redevelopment potential in North Las Vegas.
Where is this shopping center located?
The property is located at 2987 Las Vegas Blvd N North Las Vegas, NV.
What is the asking price?
The asking price for this property is $7,600,000.
What are key features of this property?
This property features: New absolute NNN 5‑year master lease backed by a proven operator; Flexible seller financing available; Stabilized asset with redevelopment and/or mark‑to‑market rent upside
