Freestanding Drive-Thru
For Sale
Contact for pricing
8500 West Cheyenne Avenue, Las Vegas, NV 89129
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 Market180
Property Features for 8500 West Cheyenne Avenue
General Information
Standard status
Active
Size
13,805 SF
Class
A
Lot size
1.47 Acres
Property subtype
Retail
Zoning
Limited Commercial (C-1)
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$305,910
Site & Location
Neighborhood
Cimarron Gowan
Traffic Count
54,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1998
Tenancy
Single
Listing Agency:
Colliers - Las Vegas, Nevada
Listed By:
Deana Marcello · License #S.0174174
(702) 727-3779
Source:
Crexi
Added: Apr 28
Changed: Oct 6
Last Checked: Oct 23 at 6:26AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$333,915
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,678,300
$6.7M
Cap Rate 7%
$4,770,214
$4.8M
Cap Rate 9%
$3,710,167
$3.7M
Market Conditions
NOI Build-Up for 13,805 SF
Gross rent
$472.1K $34.20/SF
− Vacancy
−$26.9K −$1.95/SF
EGI
$445.2K $32.25/SF
− OpEx
−$111.3K −$8.06/SF
NOI
$333.9K $24.19/SF
Area
Las Vegas, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,678,300
Cap Rate 7%
$4,770,214
Cap Rate 9%
$3,710,167
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
54,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Under-served
Demand for This Use
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
Similar Off Market Nearby
- Refill Pharmacy — 8536 Del Webb Blvd, Las Vegas, NV 89134
- COVID-19 Drive-Thru Testing at Walgreens — 8500 W Cheyenne Ave, Las Vegas, NV 89129
- Walgreens Pharmacy — 8500 W Cheyenne Ave, Las Vegas, NV 89129
- Eugene Naval — 8320 W Cheyenne Ave, Las Vegas, NV 891292147
- CVS Pharmacy — 8320 W Cheyenne Ave, Las Vegas, NV 89129
Frequently Asked Questions
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 West Cheyenne Avenue 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
