Commercial Real Estate Market in Las Vegas, NV
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,981 active listings and 24,570 off-market properties in Las Vegas, NV. Commercial property asks $68/SF to buy and $17.89/SF/Yr to lease. Office vacancy runs 13%, the loosest of the segments tracked here.
Market Trends
Las Vegas, NV spans 1,875.9 square miles in Clark County, Nevada. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Las Vegas, NV runs 13% in 2025, little changed from 13.3% in 2019. Down from a 2024 peak of 14.1%.
Vacancy Rate %
Retail
Retail vacancy in Las Vegas, NV runs 5.7% in 2025, down from 7.7% in 2019. Down from a 2020 peak of 8.3%.
Vacancy Rate %
Industrial
Industrial vacancy in Las Vegas, NV runs 11.3% in 2025, up from 5.6% in 2019. Nearly 5.4x the 2021 low of 2.1%.
Vacancy Rate %
Multifamily
Multifamily space in Las Vegas, NV asks $211/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
Las Vegas, NV has 1,641,215 residents in 683,893 households. Density runs 875 people per square mile. Median household income here is $74,391 and median gross rent $1,585 a month.
1,641,215
Population
683,893
Households
2.4
Avg Household Size
38
Median Age
27%
College-Educated
85%
High-School Grad
1875.9 sq mi
ZIP Area
875
Density / Sq Mi
$74,391
Median Household Income
$42,413
Median Earnings
$1,585
Median Rent
$384,114
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Las Vegas?
Commercial property in Las Vegas, NV asks an average of $68 per square foot. The 5 most recent recorded sales traded at a median of $250/SF. Multifamily carries the highest asking price at $211/SF.
How much does it cost to lease commercial space in Las Vegas?
Asking lease rates in Las Vegas, NV average $17.89 per square foot per year.
What is the office vacancy rate in Las Vegas?
Office vacancy in Las Vegas, NV is 13% as of 2025, little changed from 13.3% in 2019. Retail vacancy is 5.7%, below Office vacancy.
Which property type has the lowest vacancy in Las Vegas?
Retail has the lowest vacancy in Las Vegas, NV at 5.7%, inside a 5.2–8.3% band since 2019. For comparison: office 13%, industrial 11.3% and multifamily 8.6% (West).
Where does Realmo's Las Vegas market data come from?
Realmo compiles Las Vegas, NV figures from 5 recent recorded sales, 1,194 active sale listings, 787 active lease listings, 24,570 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 1,194 active for-sale and 787 active for-lease listings in Las Vegas, NV. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- multifamily vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
