Entertainment Mixed-Use Opportunity Zone
For Sale
$13,500,000
3355 Procyon St, Las Vegas, NV 89102
Prime location near Las Vegas Strip with entertainment licenses.
Property Size25,000 SF
Lot Size4.07 Acres
Price / SF$530.24
Days on Market216
Property Features for 3355 Procyon St
General Information
Standard status
Active
Size
25,000 SF
Lot size
4.07 Acres
Property subtype
Retail
Building Details
Building Size
25,000 SF
Year Built
2001
Listing Agency:
SVN | The Equity Group
Listed By:
Al Barbagallo · License #NV #BS.20613
(702) 502-1592
Source:
Svn-theequitygroup
Added: Mar 6
Changed: Sep 14
Last Checked: Oct 7 at 11:02AM
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 SVN | The Equity Group
Investment Insights
Based on property information with market context.
This strategically located property is situated at the southwest corner of Desert Inn Road and Procyon Street, approximately 1.5 miles west of the Las Vegas Strip. The site benefits from high traffic counts of 53,000 vehicles per day. Positioned between Area 15, featuring the upcoming Universal Studios Experiences project, and China Town on Spring Mountain Road, the property sits on a 4.07-acre lot. It features 318 feet of frontage on Desert Inn Road and 505 feet of frontage on Procyon Street, along with 289 parking spaces. The existing 25,460-square-foot building includes an additional 4,000 square feet of storage and an electrical generation system. Previously operated as a night club, the property has existing liquor and entertainment use licenses. Interior and exterior cameras and iron fencing are installed. The building includes separate rooms and a full kitchen. Zoned EM (Entertainment Mixed Use) and located within an Opportunity Zone, the property offers potential tax benefits and flexible zoning uses. The property is suitable for entertainment, retail, high-rise residential, or hotel/casino development.
Key Highlights
- Prime "In‑Fill" property located 1.5 miles west of the Las Vegas Strip with high traffic counts (53,000/day).
- Priced below replacement cost at $156/SF.
- Strategically located between Area 15 and China Town.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$615,825
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,316,500
$12.3M
Cap Rate 7%
$8,797,500
$8.8M
Cap Rate 9%
$6,842,500
$6.8M
Market Conditions
NOI Build-Up for 25,460 SF
Gross rent
$870.7K $34.20/SF
− Vacancy
−$49.6K −$1.95/SF
EGI
$821.1K $32.25/SF
− OpEx
−$205.3K −$8.06/SF
NOI
$615.8K $24.19/SF
Area
Las Vegas, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,316,500
Cap Rate 7%
$8,797,500
Cap Rate 9%
$6,842,500
Alternative Uses
Best Use
Specialty Retail
$8.80M
$7.70M – $10.26M
NOI $615,825 @ 7.0% cap · market cap 4.56%
Second Best
Retail
$8.21M
$7.18M – $9.58M
NOI $574,770 @ 7.0% cap · market cap 4.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 89102, NV
36,035
Population
16,964
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
75%
High-School Grad
5.3 sq mi
ZIP Area
6,799
Density / Sq Mi
$48,518
Median Household Income
$30,703
Median Earnings
$1,206
Median Rent
$363,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Las Vegas, NV
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Frequently Asked Questions
What type of property is this?
Retail space - Prime location near Las Vegas Strip with entertainment licenses.
Where is this retail space located?
The property is located at 3355 Procyon St Las Vegas, NV.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: Prime "In‑Fill" property located 1.5 miles west of the Las Vegas Strip with high traffic counts (53,000/day).; Priced below replacement cost at $156/SF.; Strategically located between Area 15 and China Town.
