Rainbow Diamond Strip
For Sale
Contact for pricing
9375 S Rainbow Blvd, Las Vegas, NV 89139
Fully occupied commercial retail center with direct access through the Walmart Supercenter parking lot.
Property Size9,528 SF
Price / SF$750.42
Days on Market154
Property Features for 9375 S Rainbow Blvd
General Information
Standard status
Active
Size
9,528 SF
Property subtype
Retail
Zoning
Commercial General (CG)
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$431,240
Additional Details
Traffic Count
83,000 vehicles/day
Building Details
Year Built
2025
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
ADELPHI PROPERTY ADVISORS
(702) 755-5486
Listed By:
Jeff Berg · License #NV B.1002731 LLC
Source:
Crexi
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 29 at 1:46PM
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 ADELPHI PROPERTY ADVISORS
Investment Insights
Based on property information with market context.
Rainbow Diamond Center is a multi-tenant retail strip center at 9375 S Rainbow Blvd in Las Vegas. The property is 100% occupied by three service-oriented retail tenants and is zoned Commercial General (CG). Current occupants include Haven Dental, with a lease extending through 2036, and Hiive, a boutique fitness operator with group training, personal coaching, and open gym access under a lease running through February 2034.
The center sits near the Blue Diamond Road and Rainbow Boulevard intersection, which records approximately 83,000 vehicles per day. Access is available from the Walmart Supercenter parking lot, placing the property within an established retail setting. The surrounding area includes more than 146,000 residents within a 3 mile radius, providing a substantial nearby customer base for the existing tenant mix.
The center sits near the Blue Diamond Road and Rainbow Boulevard intersection, which records approximately 83,000 vehicles per day. Access is available from the Walmart Supercenter parking lot, placing the property within an established retail setting. The surrounding area includes more than 146,000 residents within a 3 mile radius, providing a substantial nearby customer base for the existing tenant mix.
Key Highlights
- 100% occupied retail strip center with three service‑oriented tenants
- Direct access from the Walmart Supercenter parking lot
- Approximately 83,000 Vehicles Per Day near Blue Diamond Rd./Rainbow Blvd.
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
$215,099
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
3.01%
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%
$4,301,980
$4.3M
Cap Rate 7%
$3,072,843
$3.1M
Cap Rate 9%
$2,389,989
$2.4M
Market Conditions
NOI Build-Up for 9,528 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
$325.9K $34.20/SF
− Vacancy
−$18.6K −$1.95/SF
EGI
$307.3K $32.25/SF
− OpEx
−$92.2K −$9.68/SF
NOI
$215.1K $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%
$4,301,980
Cap Rate 7%
$3,072,843
Cap Rate 9%
$2,389,989
Alternative Uses
Best Use
Retail
$3.07M
$2.69M – $3.58M
NOI $215,099 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.29M
$2.88M – $3.84M
NOI $230,463 @ 7.0% cap · market cap 3.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
83,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 89139, NV
44,960
Population
15,206
Households
3
Avg Household Size
35
Median Age
33%
College-Educated
89%
High-School Grad
10.7 sq mi
ZIP Area
4,202
Density / Sq Mi
$96,044
Median Household Income
$43,511
Median Earnings
$1,848
Median Rent
$449,400
Median Home Value
Market
Vacancy Rate% for Retail in Las Vegas, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied commercial retail center with direct access through the Walmart Supercenter parking lot.
Where is this strip mall located?
The property is located at 9375 S Rainbow Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $7,150,000.
What are key features of this property?
This property features: 100% occupied retail strip center with three service‑oriented tenants; Direct access from the Walmart Supercenter parking lot; Approximately 83,000 Vehicles Per Day near Blue Diamond Rd./Rainbow Blvd.
