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    6650 5Th St North Las Vegas, NV 89084

    Sponsored
    For Lease
    Contact for pricing

    Kohl's-anchored, prime retail space.

    Lot size:
    150,448 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    Deer Springs Crossing, a Class A retail center in North Las Vegas, NV (89084), presents a unique investment opportunity. This 132,913 square foot, Kohl's-anchored power center is situated on a 19.94-acre lot (APN 124-23-316-010) at 6650 N 5th St, conveniently located off the 215 Beltway at the intersection of 5th St. & Deer Springs Way. The property is zoned C-2 (City of North Las Vegas) and offers spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 80,000 square feet, perfect for a variety of tenants. Currently, the center boasts a strong tenant mix including Panda Express, Raising Cane's, Chipotle, Aspen Dental, Domino's Pizza, McDonald's, Sean Patrick's Pub, Express Wash, Subway, Discount Tire, and 7-Eleven. This thriving center is ideally positioned within the rapidly expanding Village at Tule Springs community, surrounded by new residential developments and schools, ensuring high foot traffic and strong consumer demand. The property is new construction and currently pre-leasing. This is an exceptional opportunity for grocers, home improvement stores, daily service providers, banks, restaurants, and family entertainment businesses seeking a high-visibility location in a booming market. Contact us today to learn more about this exciting development.

    Property Features for 6650 5Th St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    150,448 SF
    Class
    A

    Unit(s) available at that property

    Space
    Building A
    Size
    21,600 SF
    Space
    Building B
    Size
    30,080 SF
    Space
    Building C
    Size
    21,300 SF
    Space
    Building D
    Size
    15,105 SF
    Space
    Building E
    Size
    7,480 SF
    Space
    Building F
    Size
    5,606 SF
    Space
    Building G
    Size
    7,000 SF
    Space
    Building H
    Size
    7,030 SF
    Space
    Building I
    Size
    6,970 SF
    Space
    Building K
    Size
    21,277 SF
    Space
    Building L
    Size
    7,000 SF

    HighLights

    • High‑profile retail center anchored by Kohl's, Panda Express, Raising Cane's, Chipotle, Aspen Dental, and Domino's Pizza, plus additional tenants.
    • Retail space available for anchor, junior anchor, and smaller shop tenants.
    • C‑2 zoning designation (City of North Las Vegas).
    Property Profile Location Intelligence

    Current Use by Public Records

    SEPHORA at Kohl's Cosmetics Store Kohl's Department Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.132775
    Latitude
    36.2810001

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    FAQs

    What type of property is this?
    Retail property - Kohl's-anchored, prime retail space.
    Where is this retail property located?
    The property is located at 6650 5Th St North Las Vegas, NV.
    What are key features of this property?
    This property features: High-profile retail center anchored by Kohl's, Panda Express, Raising Cane's, Chipotle, Aspen Dental, and Domino's Pizza, plus additional tenants.; Retail space available for anchor, junior anchor, and smaller shop tenants.; C-2 zoning designation (City of North Las Vegas).
    Request Owner's contact information
    6650 5Th St North Las Vegas, NV 89084
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    North Las Vegas, NV 89084
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6650 5Th St North Las Vegas, NV 89084
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