8025 Rainbow BlvdLas Vegas, NV 89139

Property Details for 8025 Rainbow Blvd

Year built

2018

Construction

FRAME

Lot size

0.92 AC

Property size (Sq ft)

5,986 SF

Property type

Retail properties

Property subtype

Retail space

APN

176-10-816-003

APU

17610816003

Description

The Shops on Rainbow, a Class A, multi-tenant retail shopping center in Las Vegas, Nevada, presents a compelling investment opportunity. This stabilized, 6,148 square foot property boasts a 5.15% cap rate and a strong net operating income (NOI) of $247,253. Built in 2018, the property consists of two single-story buildings on a 0.92-acre lot, situated at a high-visibility, signalized intersection on South Rainbow Boulevard and West Santoli Avenue. The property is currently 100% occupied by three tenants, including Bank of America. The lease type is NNN, providing a predictable income stream. The property benefits from excellent parking and accessibility, and is zoned Clark County Commercial General (CG). Its prime location offers easy access to major thoroughfares and is surrounded by a dense population with high average household incomes. The surrounding area includes numerous national retailers and amenities, further enhancing the property's value and potential for future growth. The property's strong tenant mix, high occupancy rate, and favorable location make it an attractive investment for discerning buyers. The Assessor Parcel Number (APN) is 176-10-816-003. The asking price is $4,800,000, translating to a price per square foot of $780.74.

• CAP approach

  CAP return

  Valuation

  6%

  $2,916,217

  6.5%

  $2,691,893

  7%

  $2,499,615

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,022,224

  Geo Method

  $3,022,224

• Alternative Use

  Use

  Valuation

  Residential

  $2,270,712

  Hospitality

  $2,079,960

  Educational

  $1,730,502

  Medical

  $1,790,017

  Retail

  $2,691,893

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.0428

Longitude

-115.244

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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