Outparcel Pad in Cheyenne
For Sale
Contact for pricing
7460 W Cheyenne Ave, Las Vegas, NV 89129
Corner outparcel pad to a community center.
Property Size3,500 SF
Price / SF$697.43
Days on Market170
Property Features for 7460 W Cheyenne Ave
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Retail
Zoning
c1-Limited Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1997
Year Renovated
2021
Buildings
1
Tenancy
Multi
Listing Agency:
CBRE - Orange County
Listed By:
Roy Fritz · License #NV 169670
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 26 at 7:45AM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
The property is an outparcel pad to the Shops at Cheyenne Fountains, a community center of approximately 55,225 square feet. The center provides daily needs and services with tenants such as Chevron, Capriotti’s, State Farm Insurance, Las Pupasas Market, Nifty after Fifty Wellness, All State, and Santos Barbershop. Cheyenne Fountains is located on W. Cheyenne Avenue at the signalized corner of N. Buffalo Drive, placing the site along the daily commute of over 60,000 drivers. It is easily accessible to the surrounding 3-mile daytime population of over 140,300. The property is suitable for businesses such as check-cashing and payday loan locations. The property has tenants operating under NNN leases. Rapid Cash Payday Loans has operated from the site since January 2007 and recently extended their lease for an additional 5 years. Upon stabilization through pre-negotiated rent increases or rolling rents to market, the NOI is projected to increase by more than approximately 11% by Year 5 and over approximately 32% during the anticipated 10-year hold period. The property size is 3,500 square feet.
Key Highlights
- Established Tenant History & Stability: Rapid Cash Payday Loans has operated here since 2007 and recently extended their lease for 5 years.
- Optimal Pad Location: Situated on W. Cheyenne Avenue at the signalized corner of N. Buffalo Drive, with high daily traffic.
- Near Upside Potential and Strong Income Growth: Projected NOI increase of ±11% by Year 5.
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
$79,014
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
3.24%
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%
$1,580,280
$1.6M
Cap Rate 7%
$1,128,771
$1.1M
Cap Rate 9%
$877,933
$877.9K
Market Conditions
NOI Build-Up for 3,500 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
$119.7K $34.20/SF
− Vacancy
−$6.8K −$1.95/SF
EGI
$112.9K $32.25/SF
− OpEx
−$33.9K −$9.68/SF
NOI
$79.0K $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%
$1,580,280
Cap Rate 7%
$1,128,771
Cap Rate 9%
$877,933
Alternative Uses
Best Use
Retail
$1.13M
$987.7K – $1.32M
NOI $79,014 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,658 @ 7.0% cap · market cap 3.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
Explore this area
Business Placement
Demographics for 89129, NV
54,067
Population
21,941
Households
2.5
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
5,407
Density / Sq Mi
$87,544
Median Household Income
$48,690
Median Earnings
$1,767
Median Rent
$420,400
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 - Corner outparcel pad to a community center.
Where is this retail space located?
The property is located at 7460 W Cheyenne Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $2,441,000.
What are key features of this property?
This property features: Established Tenant History & Stability: Rapid Cash Payday Loans has operated here since 2007 and recently extended their lease for 5 years.; Optimal Pad Location: Situated on W. Cheyenne Avenue at the signalized corner of N. Buffalo Drive, with high daily traffic.; Near Upside Potential and Strong Income Growth: Projected NOI increase of ±11% by Year 5.
