Retail Property with
2991 West Lake Mead Boulevard North Las Vegas, NV 89032
2991 West Lake Mead Boulevard, North Las Vegas, NV, 89032
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For Sale
Contact for pricing
Drive-through retail setup with an in-place laundromat tenant and a sizable vacant suite for owner use or leasing.
Property Size6,600 SF
Price / SF$212.12
Days on Market52
Property Features for 2991 West Lake Mead Boulevard
General Information
- Standard status
- Active
- Size
- 6,600 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2002
Listing agency
Avison Young - Las Vegas
Listed by
James Griffis, SIOR · License #S.0170947
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:53PM Checked: Jul 22 at 12:03PM
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 Avison Young - Las Vegas
Investment Insights
Based on property information with market context.
2991 W. Lake Mead Blvd. is a 6,600 SF retail property arranged to support both occupied and flexible space. The building includes a 3,440 SF vacant suite that can be used for owner occupancy or prepared for lease-up, alongside a long-term laundromat tenant providing in-place income. The property also offers drive-thru capability, pylon signage, and ample on-site parking to serve customer traffic effectively.
The asset is located on the Lake Mead Boulevard corridor in North Las Vegas and is positioned for visibility with approximately 17,295 vehicles per day, according to the provided materials. The site is also described as less than one mile from the future HYLO Park redevelopment, a planned 73-acre, $300M–$600M+ mixed-use project expected to add residential, retail, hospitality, and entertainment uses to the area.
This configuration can fit an owner-user who wants storefront visibility and a drive-thru approach while retaining a dedicated vacant suite for their own operations or for future leasing. For investors, the mix of a long-term tenant and an available suite provides straightforward options within a single retail asset on a high-traffic roadway.
The asset is located on the Lake Mead Boulevard corridor in North Las Vegas and is positioned for visibility with approximately 17,295 vehicles per day, according to the provided materials. The site is also described as less than one mile from the future HYLO Park redevelopment, a planned 73-acre, $300M–$600M+ mixed-use project expected to add residential, retail, hospitality, and entertainment uses to the area.
This configuration can fit an owner-user who wants storefront visibility and a drive-thru approach while retaining a dedicated vacant suite for their own operations or for future leasing. For investors, the mix of a long-term tenant and an available suite provides straightforward options within a single retail asset on a high-traffic roadway.
Key Highlights
- Two‑story retail building built in 2002 totaling 6,600 SF
- Includes 3,440 SF vacant suite for owner occupancy or lease‑up
- Long‑term laundromat tenant provides in‑place income
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.8k | $18.00 |
| − Vacancy | −$5.2k | −$0.79 |
| EGI | $113.6k | $17.21 |
| − OpEx | −$34.1k | −$5.16 |
| NOI | $79.5k | $12.05 |
6,600 SF · lease $18.00/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.14M
$993.8K – $1.33M
NOI $79,501 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.56M – $2.08M
NOI $125,025 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lake Mead Laundromat
(Bike/Boat/Book/etc) Store
North Las Vegas ...
Home Appliance Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Drive-through retail setup with an in-place laundromat tenant and a sizable vacant suite for owner use or leasing.
Where is this retail space located?
The property is located at 2991 West Lake Mead Boulevard North Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑story retail building built in 2002 totaling 6,600 SF; Includes 3,440 SF vacant suite for owner occupancy or lease‑up; Long‑term laundromat tenant provides in‑place income
