Retail Space Near
For Sale
Contact for pricing
4650 S Maryland Pkwy, Las Vegas, NV
Retail space in high-traffic university area, 8,357 square feet.
Property Size8,357 SF
Lot Size0.47 Acres
Price / SF$445.40
Days on Market276
Property Features for 4650 S Maryland Pkwy
General Information
Standard status
Active
Size
8,357 SF
Lot size
0.47 Acres
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Phoenix
(602) 770-2935
Listed By:
Mark Ruble · License #(S):AZ:SA550593000,NV:S.0192964
(602) 770-2935
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 10
Last Checked: Aug 10 at 1:53PM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This retail space is located in a highly sought-after university trade area. The existing space measures 8,357 square feet. Maryland Parkway was recently approved for bus rapid transit in 2019. The Regional Transportation Commission (RTC) sees approximately 10,000 riders per day along the route. A transit hub is located on the UNLV campus, across from the subject property.
Key Highlights
- Highly sought after university trade area
- Existing square footage is 8,357 sf
- Transit hub located on UNLV campus across from the subject property
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
$188,663
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
5.07%
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%
$3,773,260
$3.8M
Cap Rate 7%
$2,695,186
$2.7M
Cap Rate 9%
$2,096,256
$2.1M
Market Conditions
NOI Build-Up for 8,357 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
$285.8K $34.20/SF
− Vacancy
−$16.3K −$1.95/SF
EGI
$269.5K $32.25/SF
− OpEx
−$80.9K −$9.68/SF
NOI
$188.7K $22.58/SF
Area
Las Vegas, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$3,773,260
Cap Rate 7%
$2,695,186
Cap Rate 9%
$2,096,256
Alternative Uses
Best Use
Retail
$2.70M
$2.36M – $3.14M
NOI $188,663 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,139 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in high-traffic university area, 8,357 square feet.
Where is this retail space located?
The property is located at 4650 S Maryland Pkwy Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,722,200.
What are key features of this property?
This property features: Highly sought after university trade area; Existing square footage is 8,357 sf; Transit hub located on UNLV campus across from the subject property
