Two-Tenant Retail Pad
For Sale
Contact for pricing
675 Mall Ring Cir, Henderson, NV 89014
CC-zoned retail property with direct access to the Sunset Road and Stephanie Street intersection.
Property Size7,565 SF
Price / SF$693.72
Days on Market142
Property Features for 675 Mall Ring Cir
General Information
Standard status
Active
Size
7,565 SF
Property subtype
Retail
Zoning
CC
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$312,256
Building Details
Year Built
1997
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
CAST
(702) 592-7187
Listed By:
Steve Neiger · License #NV B.0146583
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 6:57PM
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 CAST
Investment Insights
Based on property information with market context.
Built in 1997, this 7,565-square-foot retail property at 675 Mall Ring Cir in Henderson, Nevada, is configured as a two-tenant pad building. The site carries CC zoning and provides immediate access to the intersection of Sunset Road and Stephanie Street.
The property is positioned within a major retail area near the Galleria at Sunset. Nearby development includes Cadence, a 2,200-acre master-planned community with more than 12,000 homes, and Union Village, a 170-acre health and wellness development. These surrounding projects contribute substantial residential and commercial activity to the area.
The property is positioned within a major retail area near the Galleria at Sunset. Nearby development includes Cadence, a 2,200-acre master-planned community with more than 12,000 homes, and Union Village, a 170-acre health and wellness development. These surrounding projects contribute substantial residential and commercial activity to the area.
Key Highlights
- 7,565‑square‑foot retail property built in 1997
- Two‑tenant pad building configuration
- CC zoning designation
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
$173,137
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
3.30%
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%
$3,462,740
$3.5M
Cap Rate 7%
$2,473,386
$2.5M
Cap Rate 9%
$1,923,744
$1.9M
Market Conditions
NOI Build-Up for 7,565 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
$258.7K $34.20/SF
− Vacancy
−$11.4K −$1.50/SF
EGI
$247.3K $32.70/SF
− OpEx
−$74.2K −$9.81/SF
NOI
$173.1K $22.89/SF
Area
ZIP 89014
Vacancy
4.40%
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%
$3,462,740
Cap Rate 7%
$2,473,386
Cap Rate 9%
$1,923,744
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.89M
NOI $173,137 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,504 @ 7.0% cap · market cap 3.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,426
Businesses Nearby
733k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 54%
Shops & Services 29%
Dining 13%
Home Improvements & Furnishings 1%
DICK'S Sporting Goods
Apparel
73,728 visits/mo
0.4 miles
Macy's
Apparel
69,779 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
63,073 visits/mo
0.1 miles
Kohl's
Apparel
53,103 visits/mo
0.2 miles
Ross Dress for Less
Apparel
50,842 visits/mo
0.1 miles
Demographics for 89014, NV
40,761
Population
18,062
Households
2.3
Avg Household Size
38
Median Age
29%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
5,363
Density / Sq Mi
$73,130
Median Household Income
$46,101
Median Earnings
$1,629
Median Rent
$415,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - CC-zoned retail property with direct access to the Sunset Road and Stephanie Street intersection.
Where is this retail space located?
The property is located at 675 Mall Ring Cir Henderson, NV.
What is the asking price?
The asking price for this property is $5,247,995.
What are key features of this property?
This property features: 7,565‑square‑foot retail property built in 1997; Two‑tenant pad building configuration; CC zoning designation
