Retail Space Near Medical
For Sale
Contact for pricing
601 S Rancho Dr, Las Vegas, NV 89106
Retail property positioned near the Medical District, with proximity to Symphony Park and Downtown Las Vegas.
Property Size3,804 SF
Price / SF$308.89
Days on Market176
Property Features for 601 S Rancho Dr
General Information
Standard status
Active
Size
3,804 SF
Property subtype
RETAIL
Listing Agency:
Coldwell Banker Commercial | Premier Realty
(702) 829-5042
Listed By:
John McClelland · License #S.0169443
(702) 505-6354
Source:
Moodyscre
Added: Mar 17
Changed: Aug 17
Last Checked: Jul 22 at 12:23PM
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 Coldwell Banker Commercial | Premier Realty
Investment Insights
Based on property information with market context.
This retail property offers a compact, street-facing setup well suited for a range of retail uses within a busy employment and visitor area.
The asset is located in Las Vegas’ Medical District and is close to Symphony Park and Downtown Las Vegas. Surrounding users include medical and professional businesses, along with nearby university properties, and it is described as a quick trip to City Hall, Clark County Government Center, and the courthouses.
With its location among a dense mix of medical, professional, and civic destinations, the property’s configuration provides an opportunity for retailers seeking steady day-to-day foot traffic in the core of the district.
The asset is located in Las Vegas’ Medical District and is close to Symphony Park and Downtown Las Vegas. Surrounding users include medical and professional businesses, along with nearby university properties, and it is described as a quick trip to City Hall, Clark County Government Center, and the courthouses.
With its location among a dense mix of medical, professional, and civic destinations, the property’s configuration provides an opportunity for retailers seeking steady day-to-day foot traffic in the core of the district.
Key Highlights
- Retail property located near the Medical District
- Close to Symphony Park
- Near Downtown Las Vegas
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
$85,877
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
7.31%
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%
$1,717,540
$1.7M
Cap Rate 7%
$1,226,814
$1.2M
Cap Rate 9%
$954,189
$954.2K
Market Conditions
NOI Build-Up for 3,804 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
$130.1K $34.20/SF
− Vacancy
−$7.4K −$1.95/SF
EGI
$122.7K $32.25/SF
− OpEx
−$36.8K −$9.68/SF
NOI
$85.9K $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%
$1,717,540
Cap Rate 7%
$1,226,814
Cap Rate 9%
$954,189
Alternative Uses
Best Use
Retail
$1.23M
$1.07M – $1.43M
NOI $85,877 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $92,011 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 89106, NV
27,695
Population
10,906
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
5,430
Density / Sq Mi
$38,848
Median Household Income
$31,265
Median Earnings
$1,169
Median Rent
$263,100
Median Home Value
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 property positioned near the Medical District, with proximity to Symphony Park and Downtown Las Vegas.
Where is this retail space located?
The property is located at 601 S Rancho Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Retail property located near the Medical District; Close to Symphony Park; Near Downtown Las Vegas
