Freestanding Drug Store with
For Sale
Contact for pricing
385 East Silverado Ranch Boulevard, Las Vegas, NV 89183
Freestanding Walgreens NNN property with drive-thru pharmacy and prominent building and pylon signage on a large parcel.
Property Size14,448 SF
Lot Size1.95 Acres
Price / SF$368.01
Days on Market135
Property Features for 385 East Silverado Ranch Boulevard
General Information
Standard status
Active
Size
14,448 SF
Class
A
Lot size
1.95 Acres
Property subtype
Retail
Zoning
General Commercial (C-2)
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$305,760
Site & Location
Traffic Count
48,800 vehicles/day
Highway Access
Yes
Building Details
Year Built
2005
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Colliers - Las Vegas, Nevada
Listed By:
Deana Marcello · License #NV 174174
(702) 735-5700
Source:
Crexi
Added: Apr 27
Changed: Sep 8
Last Checked: Sep 8 at 3:26AM
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
Investment Insights
Based on property information with market context.
This absolute NNN Walgreens consists of a freestanding building with a drive-thru pharmacy, situated on a large parcel. The site is supported by prominent building and pylon signage.
The property is located at a signalized intersection on E Silverado Ranch Blvd and Bermuda Rd, about one mile east of the I-15 Freeway. The surrounding area includes major hospitality and timeshare development, and the offering cites more than 30,000 homes in the Silverado Ranch trade area.
Nearby co-tenants listed in the remarks include Smith’s, Sprouts, Target, Planet Fitness, Goodwill, Bank of America, Dunkin’, PT’s Gold, and Walmart Neighborhood Market.
The property is located at a signalized intersection on E Silverado Ranch Blvd and Bermuda Rd, about one mile east of the I-15 Freeway. The surrounding area includes major hospitality and timeshare development, and the offering cites more than 30,000 homes in the Silverado Ranch trade area.
Nearby co-tenants listed in the remarks include Smith’s, Sprouts, Target, Planet Fitness, Goodwill, Bank of America, Dunkin’, PT’s Gold, and Walmart Neighborhood Market.
Key Highlights
- Absolute NNN freestanding Walgreens with drive‑thru pharmacy
- 14,448 SF building on a large 1.95‑acre parcel with prominent building and pylon signage
- Located at the signalized intersection of E Silverado Ranch Blvd. and Bermuda Rd., 1 mile east of I‑15
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
$349,468
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
6.57%
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%
$6,989,360
$7.0M
Cap Rate 7%
$4,992,400
$5.0M
Cap Rate 9%
$3,882,978
$3.9M
Market Conditions
NOI Build-Up for 14,448 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
$494.1K $34.20/SF
− Vacancy
−$28.2K −$1.95/SF
EGI
$466.0K $32.25/SF
− OpEx
−$116.5K −$8.06/SF
NOI
$349.5K $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%
$6,989,360
Cap Rate 7%
$4,992,400
Cap Rate 9%
$3,882,978
Alternative Uses
Best Use
Specialty Retail
$4.99M
$4.37M – $5.82M
NOI $349,468 @ 7.0% cap · market cap 6.57%
Second Best
Retail
$4.66M
$4.08M – $5.44M
NOI $326,170 @ 7.0% cap · market cap 6.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
48,800 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89183, NV
40,517
Population
16,250
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
5,788
Density / Sq Mi
$83,053
Median Household Income
$44,533
Median Earnings
$1,750
Median Rent
$415,400
Median Home Value
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bee Care Inc — 9708 Gilespie St UNIT 104, Las Vegas, NV 89183
- Emily Wattenschaidt, PHARM — 385 E Silverado Ranch Blvd, Las Vegas, NV 89183
- Poorva M. Parikh, BPharm — 385 E Silverado Ranch Blvd, Las Vegas, NV 89183
- Amy Lavanty, RPh — 385 E Silverado Ranch Blvd, Las Vegas, NV 89183
- Hiep N. Tran, PharmD — 385 E Silverado Ranch Blvd, Las Vegas, NV 89183
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding Walgreens NNN property with drive-thru pharmacy and prominent building and pylon signage on a large parcel.
Where is this drug store located?
The property is located at 385 East Silverado Ranch Boulevard Las Vegas, NV.
What is the asking price?
The asking price for this property is $5,317,000.
What are key features of this property?
This property features: Absolute NNN freestanding Walgreens with drive‑thru pharmacy; 14,448 SF building on a large 1.95‑acre parcel with prominent building and pylon signage; Located at the signalized intersection of E Silverado Ranch Blvd. and Bermuda Rd., 1 mile east of I‑15
