Freestanding Drive-Thru
8500 W Cheyenne Ave Las Vegas, NV 89129
8500 W Cheyenne Ave, Las Vegas, NV, 89129
$5,320,000
For Sale
$5,320,000
Absolute NNN Walgreens with drive-thru pharmacy on a large parcel with prominent building and pylon signage.
Property Size13,805 SF
Lot Size1.47 Acres
Price / SF$385.37
Days on Market67
Property Features for 8500 W Cheyenne Ave
General Information
- Standard status
- Active
- Size
- 13,805 SF
- Lot size
- 1.47 Acres
- Property subtype
- Retail
Listing agency
Las Vegas
(702) 727-3778
Listed by
Adam Malan · License #63542
(702) 727-3778
Source
Colliers
Added: May 18 Updated: Jul 22 at 11:11PM Checked: Jul 22 at 11:11PM
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 Las Vegas
Investment Insights
Based on property information with market context.
Exclusive offering of an Absolute NNN leased Walgreens featuring a freestanding drive-thru pharmacy. The property includes a 13,805 SF building on a 1.47-acre parcel with prominent building and pylon signage.
The site is located just west of the I-11 Freeway at a signalized intersection of W Cheyenne Ave. and N Rampart Blvd, with 181,000 VPD on I-11 and combined traffic counts exceeding 54,000 VPD. Nearby national co-tenants in the area include Albertsons, Ace Hardware, CareNow Urgent Care, Ace Primary Care, Starbucks, McDonald’s, Bank of America, Burger King, and others.
The asset serves the northwest Las Vegas trade area, including Summerlin, Pueblo, and Desert Shores communities. Nearby demand drivers cited include MountainView Hospital, Summerlin Hospital, Suncoast Hotel Casino, Rampart Hotel Casino, and Bettye Wilson Soccer Complex.
The site is located just west of the I-11 Freeway at a signalized intersection of W Cheyenne Ave. and N Rampart Blvd, with 181,000 VPD on I-11 and combined traffic counts exceeding 54,000 VPD. Nearby national co-tenants in the area include Albertsons, Ace Hardware, CareNow Urgent Care, Ace Primary Care, Starbucks, McDonald’s, Bank of America, Burger King, and others.
The asset serves the northwest Las Vegas trade area, including Summerlin, Pueblo, and Desert Shores communities. Nearby demand drivers cited include MountainView Hospital, Summerlin Hospital, Suncoast Hotel Casino, Rampart Hotel Casino, and Bettye Wilson Soccer Complex.
Key Highlights
- Absolute NNN single‑tenant Walgreens with drive‑thru pharmacy
- ±13,805 SF freestanding building on a ±1.47‑acre parcel
- Prominent building and pylon signage
Local Financial Insights For Specialty 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 | $472.1k | $34.20 |
| − Vacancy | −$26.9k | −$1.95 |
| EGI | $445.2k | $32.25 |
| − OpEx | −$111.3k | −$8.06 |
| NOI | $333.9k | $24.19 |
13,805 SF · lease $34.20/SF/yr · vacancy 5.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$4.77M
$4.17M – $5.57M
NOI $333,915 @ 7.0% cap · market cap 6.28%
Second Best
Retail
$4.45M
$3.90M – $5.19M
NOI $311,654 @ 7.0% cap · market cap 5.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
1-Hr Photo Clinic
Photography Service
Beverly Driskill
Physician
Redbox
Cinema
Taco stand
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Eugene Naval — 8320 W Cheyenne Ave, Las Vegas, NV 891292147
- COVID-19 Drive-Thru Testing at Walgreens — 8500 W Cheyenne Ave, Las Vegas, NV 89129
- CVS Pharmacy — 8320 W Cheyenne Ave, Las Vegas, NV 89129
- Refill Pharmacy — 8536 Del Webb Blvd, Las Vegas, NV 89134
- Walgreens Pharmacy — 8500 W Cheyenne Ave, Las Vegas, NV 89129
FAQs
What type of property is this?
Drug store - Absolute NNN Walgreens with drive-thru pharmacy on a large parcel with prominent building and pylon signage.
Where is this drug store located?
The property is located at 8500 W Cheyenne Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $5,320,000.
What are key features of this property?
This property features: Absolute NNN single‑tenant Walgreens with drive‑thru pharmacy; ±13,805 SF freestanding building on a ±1.47‑acre parcel; Prominent building and pylon signage
