Las Vegas Pep Boys
For Sale
Contact for pricing
4670 E Tropicana Ave, Las Vegas, NV 89121
Value-add opportunity with a long-term lease and annual rent increases.
Property Size20,944 SF
Lot Size2.13 Acres
Price / SF$167.11
Days on Market153
Property Features for 4670 E Tropicana Ave
General Information
Standard status
Active
Size
20,944 SF
Lot size
2.13 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$133,929
Building Details
Year Built
1985
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #BRK.200900214
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 11 at 5:43AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This offering features a Pep Boys location at 4670 E Tropicana Ave, Las Vegas, NV 89121. The property includes approximately 20,944 rentable square feet of building space on an estimated 2.13-acre parcel of land. The Pep Boys is operating under a 10-year Double Net lease, which started on August 1, 2023. The current annual rent is $264,561, with scheduled increases of 1.50% each year.
Key Highlights
- Value‑add opportunity with potential for increased revenue.
- Tenant is Pep Boys, a nationally recognized brand.
- Double Net (DN) lease structure, limiting landlord responsibilities.
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
$281,707
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
8.05%
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%
$5,634,140
$5.6M
Cap Rate 7%
$4,024,386
$4.0M
Cap Rate 9%
$3,130,078
$3.1M
Market Conditions
NOI Build-Up for 20,944 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
$439.8K $21.00/SF
− Vacancy
−$37.4K −$1.79/SF
EGI
$402.4K $19.22/SF
− OpEx
−$120.7K −$5.76/SF
NOI
$281.7K $13.45/SF
Area
ZIP 89121
Vacancy
8.50%
Lease Rate
$21.00 /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%
$5,634,140
Cap Rate 7%
$4,024,386
Cap Rate 9%
$3,130,078
Alternative Uses
Best Use
Retail
$4.02M
$3.52M – $4.70M
NOI $281,707 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$2.42M
$2.11M – $2.82M
NOI $169,139 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$5.44M
$4.76M – $6.34M
NOI $380,458 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89121, NV
68,692
Population
29,012
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
7,467
Density / Sq Mi
$54,667
Median Household Income
$32,776
Median Earnings
$1,306
Median Rent
$288,400
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
- Jiffy Lube — 4511 E Tropicana Ave, Las Vegas, NV 89121
- Las Vegas Tire Mart & Co. — 4440 E Tropicana Ave, Las Vegas, NV 89121
- Colwells mobile mechanic llc — 4972 Saratoga Cir, Las Vegas, NV 89120
- Turf Tire Distributors — 4542 E Tropicana Ave #228, Las Vegas, NV 89121
- Pep Boys — 4670 E Tropicana Ave, Las Vegas, NV 89121
Frequently Asked Questions
What type of property is this?
Auto shop - Value-add opportunity with a long-term lease and annual rent increases.
Where is this auto shop located?
The property is located at 4670 E Tropicana Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Value‑add opportunity with potential for increased revenue.; Tenant is Pep Boys, a nationally recognized brand.; Double Net (DN) lease structure, limiting landlord responsibilities.
