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    Retail Strip Center Near Nellis Title is generated by Realmo AI

    4375 Las Vegas Blvd N, Las Vegas, NV 89115

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    For Lease
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    Retail spaces for lease near Nellis Air Force Base.

    Type:Retail, Office
    Added:
    Jul 18, 2025
    Days on Market:
    298
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 4375 Las Vegas Blvd N

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Spaces For Lease

    at 4375 Las Vegas Blvd N Contact us

    Suite 4-5 $1.40 /Mo

    Size
    1,730 SF
    Type
    Retail, Office
    Mostly open space with 2 bathrooms and 2 private office or storage rooms in the back...
    show more
    Contact us

    Suite 11 $1.40 /Mo

    Size
    1,100 SF
    Type
    Retail, Office
    Freshly painted vanilla shell condition retail space with restroom in place, TI allowance...
    show more
    Contact us

    Unit 10 $1.50 /Mo

    Size
    1,600 SF
    Type
    Retail, Office
    2nd generation office space, previously occupied by a pediatrician's office. Great...
    show more
    Contact us

    We can help!

    Listing Contact
    Catherine Kuo

    Listing agent Catherine Kuo License #B.1002255

    Listing office Elite Commercial Real Estate

    Listing date Jul 18, 2025

    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 Elite Commercial Real Estate

    HighLights

    • Directly across from Nellis AFB main gate, providing access to a large, stable customer base.
    • High traffic location with ~38,000 vehicles per day.
    • Located in a rapidly growing industrial hub with ~2.5 million SF of Amazon warehouse space and major distribution centers, creating a robust daytime workforce.
    • Shadow‑anchored by established businesses like Jack in the Box, 7‑Eleven, and Smoking Pig BBQ.
    • Adjacent to the new 369K SF Craig Road Logistics Center.
    • Retail is currently underrepresented in the area, offering a significant opportunity for new businesses.

    Overview

    This retail strip center is available for lease on Craig Road and Las Vegas Boulevard, directly across from the Nellis Air Force Base main gate. The location is suitable for businesses seeking visibility in a high-traffic industrial hub. The site benefits from approximately 38,000 vehicles per day. It is adjacent to the new 369,000 square foot Craig Road Logistics Center and shadow-anchored by Jack in the Box, 7-Eleven, and Smoking Pig BBQ. Nellis AFB supports a workforce of approximately 15,000 personnel and a total connected population of approximately 60,000, including active-duty military, civilian employees, contractors, and families. The corridor hosts approximately 2.5 million square feet of Amazon warehouse space, including Nevada’s largest 855,000 square foot fulfillment hub employing approximately 1,500 people, plus nearby major distribution centers that employ thousands more, such as: Sephora Distribution Center (715,000 square feet), The Honest Co. (571,000 square feet), T.J. Maxx Distribution (713,000 square feet), Sysco Las Vegas (363,000 square feet), Bed Bath & Beyond (525,000 square feet), and RC Willey (277,000 square feet). Nearby Las Vegas Motor Speedway adds seasonal traffic surges. This site is suited for quick serve, essential needs, or service-oriented tenants looking to tap into a daytime workforce.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jumpstart Parking Lot & Garage Fastest Labs of NE ... Paternity Testing Service Ship Las Vegas Business Service Center Needle and Stitch Studio (Bike/Boat/Book/etc) Store Memori.ES702 (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.057122
    Latitude
    36.240007

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    FAQs

    What type of property is this?
    Strip mall - Retail spaces for lease near Nellis Air Force Base.
    Where is this strip mall located?
    The property is located at 4375 Las Vegas Blvd N Las Vegas, NV.
    What are key features of this property?
    This property features: Directly across from Nellis AFB main gate, providing access to a large, stable customer base.; High traffic location with ~38,000 vehicles per day.; Located in a rapidly growing industrial hub with ~2.5 million SF of Amazon warehouse space and major distribution centers, creating a robust daytime workforce.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Catherine Kuo
    Real Estate License ID: B.1002255
    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.

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