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    3717 S Las Vegas Blvd Las Vegas, NV 89109

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    For Lease
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    Three-story retail and dining destination at a prime Las Vegas location.

    Type:Retail, Restaurant, Special Purpose
    Property size:
    110,184 SF
    Lot size:
    2.00 Acres
    Added:
    Dec 12, 2023
    Days on Market:
    848
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 3717 S Las Vegas Blvd

    General Information

    Standard status
    Active
    Size
    110,184 SF
    Lot size
    2.00 Acres
    Property subtype
    Retail, Restaurant, Special Purpose

    Building Details

    Year Built
    2011

    Spaces For Lease

    at 3717 S Las Vegas Blvd Contact us

    We can help!

    Listing Contact
    Deana Marcello

    Listing agent Deana Marcello License #NV 174174

    Listing office Colliers - Las Vegas, Nevada

    Listing date Dec 12, 2023

    Source Crexi

    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, Nevada

    Overview

    Premier Retail and Dining Destination

    Harmon Corner is a three-story retail and dining destination encompassing 110,184 square feet on two acres. Located at the intersection of Las Vegas Boulevard and Harmon Avenue, this property benefits from high visibility and over 400 feet of frontage on Las Vegas Boulevard. The location sees over 30 million visitors annually. The Atrium, a second-floor pedestrian walkway, directs visitors through the property, while The Marketplace offers tenants exclusive Las Vegas Boulevard storefronts. A 306-foot-long LED Wall captures millions of impressions daily. Originally opened in 2012, Harmon Corner is undergoing renovations to introduce optimized suite layouts on both street and pedestrian walkway levels. The center is home to brands such as Taco Bell Cantina, Rainforest Cafe, Sugar Factory, and Bubba Gump Shrimp Co. Connected to four major pedestrian pathways, Harmon Corner attracts visitors from both sides of the Boulevard. Neighboring destinations include The Cosmopolitan, The Shops at Crystals, Aria, Bellagio, Planet Hollywood, and MGM Grand. Developed and owned by Torino Companies and Flag Luxury Group, Harmon Corner offers brands the opportunity to capitalize on a Las Vegas location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Golden Ramzy Restaurant Viva Vegas Gifts ... (Bike/Boat/Book/etc) Store Magnet Max (Bike/Boat/Book/etc) Store Subway Take-out & Catering One Harmon LLC Construction Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • BreatheO2 Oxygen Bar At NYNY Hotel — 3790 S Las Vegas Blvd, Las Vegas, NV 89109
    • Quick-Tag — Lids Locker Room, 3791 S Las Vegas Blvd Suite 1400, Las Vegas, NV 89109
    • Quick-Tag — M&M’S Las Vegas, 3785 S Las Vegas Blvd, Las Vegas, NV 89109
    • Quick-Tag — HARD ROCK CAFÉ 3771 LAS VEGAS BLVD SOUTH, 2ND FLOOR RESTAURANT, Las Vegas, NV 89109
    • Toshiba Plaza — 3780 S Las Vegas Blvd, Las Vegas, NV 89158

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.173002
    Latitude
    36.108417

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    FAQs

    What type of property is this?
    Shopping center - Three-story retail and dining destination at a prime Las Vegas location.
    Where is this shopping center located?
    The property is located at 3717 S Las Vegas Blvd Las Vegas, NV.
    What are key features of this property?
    This property features: Premier location at the iconic intersection of Las Vegas Boulevard and Harmon Avenue.; Unparalleled exposure with over 400 feet of Las Vegas Boulevard frontage and over 30 million annual visitors.; High‑visibility with a 306‑foot‑long LED Wall capturing millions of impressions daily.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Deana Marcello
    Real Estate License ID: NV 174174
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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