Former Convenience Store on Charleston
For Sale
Contact for pricing
3500 E Charleston Blvd, Las Vegas, NV
2,581 SF former convenience store on high-traffic Charleston Blvd.
Property Size2,581 SF
Lot Size0.38 Acres
Price / SF$581.17
Days on Market390
Property Features for 3500 E Charleston Blvd
General Information
Standard status
Active
Size
2,581 SF
Lot size
0.38 Acres
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield | Las Vegas
(951) 532-3889
Listed By:
Emily Brun · License #S.0196293
(951) 532-3889
Source:
Moodyscre
Added: Jul 30, 2025
Changed: Aug 14
Last Checked: Aug 22 at 6:23AM
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 Cushman & Wakefield | Las Vegas
Investment Insights
Based on property information with market context.
The subject property is a 2,581 square foot former convenience store and fuel station, originally built in the 1970s. Situated on Charleston Boulevard, a highly trafficked road with approximately 31,000 vehicles per day, the property benefits from direct street exposure. It features two direct turns for westbound traffic and a curb cut at Pecos Road with an immediate direct turn for eastbound traffic. Located to the east is access to Interstate 11, also known as Highway US 95 and US 93, which sees more than 75,000 vehicles per day and is approximately 1/4 of a mile away. The property's favorable traffic counts, corner location, and proximity to the interstate make it an ideal location for retail and commercial uses permissible under the City of Las Vegas’ C-1 (Limited Commercial) zoning code.
Key Highlights
- High traffic location on Charleston Blvd (31,000 VPD).
- Proximity to Interstate 11/Highway US 95/US 93 (75,000+ VPD) - ±¼ mile away.
- Corner lot with direct street exposure.
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
$62,429
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
4.16%
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%
$1,248,580
$1.2M
Cap Rate 7%
$891,843
$891.8K
Cap Rate 9%
$693,656
$693.7K
Market Conditions
NOI Build-Up for 2,581 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
$88.3K $34.20/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$83.2K $32.25/SF
− OpEx
−$20.8K −$8.06/SF
NOI
$62.4K $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 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%
$1,248,580
Cap Rate 7%
$891,843
Cap Rate 9%
$693,656
Alternative Uses
Best Use
Specialty Retail
$891.8K
$780.4K – $1.04M
NOI $62,429 @ 7.0% cap · market cap 4.16%
Second Best
Retail
$832.4K
$728.3K – $971.1K
NOI $58,267 @ 7.0% cap · market cap 3.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - 2,581 SF former convenience store on high-traffic Charleston Blvd.
Where is this gas station located?
The property is located at 3500 E Charleston Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High traffic location on Charleston Blvd (31,000 VPD).; Proximity to Interstate 11/Highway US 95/US 93 (75,000+ VPD) - ±¼ mile away.; Corner lot with direct street exposure.
