7-Eleven-Anchored Shopping
For Sale
Contact for pricing
901-947 N Pecos Rd, Las Vegas, NV 89101
The center includes a convenience-store anchor and four fuel pumps on the same parcel.
Property Size21,720 SF
Lot Size2.15 Acres
Price / SF$265.54
Days on Market12
Property Features for 901-947 N Pecos Rd
General Information
Standard status
Active
Size
21,720 SF
Lot size
2.15 Acres
Property subtype
Retail
Site & Location
Corner Location
Yes
Anchor Co-Tenants
7-Eleven
Traffic Count
47,100 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Fuel Pumps
4
Building Details
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Las Vegas
Listed By:
Dustin Alvino · License #NV BS.0143692
(702) 215-7100
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 5:15AM
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 Marcus & Millichap - Las Vegas
Investment Insights
Based on property information with market context.
Located at 901-947 N Pecos Rd in Las Vegas, this shopping center spans approximately 21,720 square feet on 2.15 acres. A 7-Eleven with four fuel pumps occupies the same parcel. The property sits at the signalized intersection of North Pecos Road and East Washington Avenue, with approximately 305 feet of frontage and combined traffic counts of about 47,100 vehicles per day. Interstate 11 is approximately two miles away.
The surrounding area includes 229,263 residents within three miles; average household income within one mile is $63,957. Planned residential projects include a nearly $500 million, 95-acre redevelopment of the former Desert Pines Golf Club, less than one mile south, expected to add more than 1,500 households. Lennar is also developing more than 1,000 homes west along Washington Avenue in the eastern Downtown/Cashman area.
The surrounding area includes 229,263 residents within three miles; average household income within one mile is $63,957. Planned residential projects include a nearly $500 million, 95-acre redevelopment of the former Desert Pines Golf Club, less than one mile south, expected to add more than 1,500 households. Lennar is also developing more than 1,000 homes west along Washington Avenue in the eastern Downtown/Cashman area.
Key Highlights
- Approximately 21,720 square feet on 2.15 acres
- 7‑Eleven on the parcel includes four fuel pumps
- Approximately 305 feet of frontage at North Pecos Road and East Washington Avenue
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
$525,362
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
9.11%
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%
$10,507,240
$10.5M
Cap Rate 7%
$7,505,171
$7.5M
Cap Rate 9%
$5,837,356
$5.8M
Market Conditions
NOI Build-Up for 21,720 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
$742.8K $34.20/SF
− Vacancy
−$42.3K −$1.95/SF
EGI
$700.5K $32.25/SF
− OpEx
−$175.1K −$8.06/SF
NOI
$525.4K $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 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%
$10,507,240
Cap Rate 7%
$7,505,171
Cap Rate 9%
$5,837,356
Alternative Uses
Best Use
Specialty Retail
$7.51M
$6.57M – $8.76M
NOI $525,362 @ 7.0% cap · market cap 9.11%
Second Best
Retail
$7.00M
$6.13M – $8.17M
NOI $490,338 @ 7.0% cap · market cap 8.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
47,100 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
23,600 visits/mo
0.4 miles
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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?
Shopping center - The center includes a convenience-store anchor and four fuel pumps on the same parcel.
Where is this shopping center located?
The property is located at 901-947 N Pecos Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $5,767,623.
What are key features of this property?
This property features: Approximately 21,720 square feet on 2.15 acres; 7‑Eleven on the parcel includes four fuel pumps; Approximately 305 feet of frontage at North Pecos Road and East Washington Avenue
