Anchored Retail Center in Las
4945-5045 W Tropicana Ave Las Vegas, NV 89103
74,809 SF retail center anchored by EOS Fitness.
Type:Retail
Property size:
74,809 SFPrice / SF:
$415.73/SF- Added:
- May 13, 2026
- Days on Market:
- 63
- Last Refresh:
- Jul 4 at 2:04 pm
Property Features for 4945-5045 W Tropicana Ave
General Information
- Standard status
- Active
- Size
- 74,809 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2000
Listing office Colliers - Las Vegas, Nevada
Listing date May 13, 2026
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
Investment Insights
Based on property information with market context.
Trop Plaza is a retail center with approximately 74,809 square feet, anchored by EOS Fitness. The property is located in Las Vegas, Nevada, along W. Tropicana Avenue, near the Las Vegas Strip and Stadium District. National tenants include Denny’s, Starbucks, and Walgreens (NAP). The center is positioned at the signalized intersection of W. Tropicana Avenue and S. Decatur Boulevard, offering visibility and dual-street frontage. Traffic counts are approximately 84,000 vehicles per day. It also has access to the I-15 Freeway (approximately 177,000 VPD), I-11 Freeway (approximately 229,000 VPD) and the CC 215 Beltway (approximately 119,000 VPD) and the Las Vegas Strip. The tenant mix is internet resistant and service-oriented, with national and regional tenants. The center has a 78-month WALT and staggered lease expirations, providing in-place income alongside value-add potential through vacancy lease-up and mark-to-market rents. The center is adjacent to The Orleans Hotel & Casino (1,886 Rooms) and Tahiti Resort (174 Suites). The surrounding trade area has approximately 385,753 residents within a 5-mile radius and average household incomes exceeding $93,137. The immediate area features a daytime population of over 660,343 consumers.
Key Highlights
- EOS Fitness anchored retail center with national tenants like Denny's, Starbucks, and Walgreens.
- Strategically located on W. Tropicana Avenue near the Las Vegas Strip and Stadium District.
- Exceptional visibility and high traffic counts (±84,000 VPD) at a signalized intersection.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.56M | $34.20 |
| − Vacancy | −$145.8k | −$1.95 |
| EGI | $2.41M | $32.25 |
| − OpEx | −$723.8k | −$9.68 |
| NOI | $1.69M | $22.58 |
74,809 SF · lease $34.20/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$24.13M
$21.11M – $28.15M
NOI $1,688,845 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$25.85M
$22.62M – $30.16M
NOI $1,809,476 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
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FAQs
What type of property is this?
Shopping center - 74,809 SF retail center anchored by EOS Fitness.
Where is this shopping center located?
The property is located at 4945-5045 W Tropicana Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $31,100,000.
What are key features of this property?
This property features: EOS Fitness anchored retail center with national tenants like Denny's, Starbucks, and Walgreens.; Strategically located on W. Tropicana Avenue near the Las Vegas Strip and Stadium District.; Exceptional visibility and high traffic counts (±84,000 VPD) at a signalized intersection.
