Retail Center Near Redevelopment
For Sale
Contact for pricing
3011 W Lake Mead Blvd, North Las Vegas, NV 89032
Retail shopping center near major redevelopment and transportation routes.
Property Size5,500 SF
Price / SF$327.27
Days on Market757
Property Features for 3011 W Lake Mead Blvd
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail
Zoning
C-1
Net Operating Income
$122,748
Building Details
Stories
1
Listing Agency:
MDL Group
(702) 388-1800
Listed By:
Hayim Mizrachi, SIOR, CCIM · License #NV 143643
Source:
Crexi
Added: Jul 16, 2024
Changed: Aug 11
Last Checked: Aug 11 at 9:54AM
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 MDL Group
Investment Insights
Based on property information with market context.
The property at 3011 W. Lake Mead Blvd. is a retail shopping center with a size of approximately 5,500 square feet. It is located near the intersection of Lake Mead and Simmons, in the Central West retail submarket, approximately 2 miles north of US-95. The property is anchored by Domino’s Pizza and includes a commissary kitchen, a smoke shop, and a beauty salon. The Martin Luther King interchange at US-95 provides convenient access to Downtown Las Vegas. The North Las Vegas Airport is also located nearby. The retail center is in close proximity to Wal-Mart and a large mixed-use redevelopment project planned for Rancho & Lake Mead Blvd. This project includes plans for new housing with up to 655 units, a grocery store, a new hotel, outdoor recreation, retail stores, a childcare center, and restaurants. The property is also near the former Fiesta Rancho and Texas Station Casino sites.
Key Highlights
- Anchored by Domino's Pizza, with additional tenants offering immediate income.
- Located near Lake Mead and Simmons, close to Wal‑Mart.
- Proximity to a large mixed‑use redevelopment project** on Rancho & Lake Mead Blvd including new housing, grocery store, hotel, and retail.
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
$66,251
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
3.68%
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%
$1,325,020
$1.3M
Cap Rate 7%
$946,443
$946.4K
Cap Rate 9%
$736,122
$736.1K
Market Conditions
NOI Build-Up for 5,500 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
$99.0K $18.00/SF
− Vacancy
−$4.4K −$0.79/SF
EGI
$94.6K $17.21/SF
− OpEx
−$28.4K −$5.16/SF
NOI
$66.3K $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%
$1,325,020
Cap Rate 7%
$946,443
Cap Rate 9%
$736,122
Alternative Uses
Best Use
Retail
$946.4K
$828.1K – $1.10M
NOI $66,251 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,188 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
7-Eleven
Shops & Services
11,455 visits/mo
0.2 miles
Domino's Pizza
Dining
2,445 visits/mo
0.2 miles
U-Haul Moving & Storage at W Lake Mead Blvd
Shops & Services
1,302 visits/mo
0.3 miles
Demographics for 89032, NV
47,324
Population
16,514
Households
2.9
Avg Household Size
36
Median Age
16%
College-Educated
82%
High-School Grad
10.0 sq mi
ZIP Area
4,732
Density / Sq Mi
$74,661
Median Household Income
$40,155
Median Earnings
$1,646
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail shopping center near major redevelopment and transportation routes.
Where is this shopping center located?
The property is located at 3011 W Lake Mead Blvd North Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Anchored by Domino's Pizza, with additional tenants offering immediate income.; Located near Lake Mead and Simmons, close to Wal‑Mart.; Proximity to a large mixed‑use redevelopment project** on Rancho & Lake Mead Blvd including new housing, grocery store, hotel, and retail.
