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    Property profile & analytics

    1040 Rainbow Blvd Las Vegas, NV 89145

    • Retail space
    • 7,986 SF
    • 0.57 lot acres
    For Sale
    View listing
    $2,941,000
    Value Estimation
    Location Intelligence
    Property ID
    US62-1107857
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Maranon William R MD / General Practitioner / Doctor
    • Pioneer Pediatrics / Pediatrician
    • Lv dollar plus / Dollar Store
    • Ideal Weight Loss Center / Weight Loss Service
    • Dr. Nana Kufuor / Pediatrician

    Property Details for 1040 Rainbow Blvd

    Year built
    1995
    Construction
    FRAME
    Lot size
    0.57 lot acres
    Property size
    7,986 SF
    Property type
    Retail space
    APN
    138-34-820-008
    APU
    13834820008

    Description

    This exceptional investment opportunity presents a fee-simple, 8,000-square-foot retail building in Las Vegas, Nevada. Located at 1040 S Rainbow Blvd, this Class B property boasts a prime location in the Rainbow Vista development, offering excellent visibility from Rainbow Boulevard near W Charleston Blvd. Currently housing a pharmacy franchisee as a primary tenant under a NNN lease with 2.9 years remaining (commencing July 1, 2022, and expiring October 31, 2027), this stabilized investment offers a 6.00% cap rate and a $367.62 price per square foot. The property features a single-story building constructed in 1995 and renovated in 2022, with ample parking. The building is zoned C-1 and includes a prominent pylon sign. The asking price is $2,941,000. This property is ideal for an owner-user medical professional seeking a fully built-out space, complemented by rental income from an adjacent tenant. The property includes two units, with the second unit occupied by a tenant under a five-year lease. The property's features include three rent bumps built into the lease. This is a multi-tenant property with a 33% occupancy rate as of May 18, 2023. The APN is 138-34-820-008. This offering is suitable for a 1031 exchange.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.243
    Latitude
    36.1601
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,087
    $156,423
    $216,819
    $373,242
    -
    $446,923
    $619,483
    $1,066,406

    Comparable in this City

    • Value Estimation
      $415,000
      7,044 SF

      1060 Rainbow Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,044 SF
      1060 Rainbow Blvd, Las Vegas, NV 89145-6231
      View Details
    • Value Estimation
      $7,295,000
      16,123 SF

      800 Rampart Blvd

      RETAIL STORES (PERSONAL SERVICES) • 16,123 SF
      800 Rampart Blvd, Las Vegas, NV 89145-4825
      View Details
    • Value Estimation by Request
      0.40 Acres

      850 Durango Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.40 Acres
      850 Durango Dr, Las Vegas, NV 89145-2459
      View Details
    • Value Estimation by Request
      3,984 SF

      903 Rainbow Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,984 SF
      903 Rainbow Blvd, Las Vegas, NV 89145-6230
      View Details
    • Value Estimation by Request
      6,000 SF

      903 Rainbow Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      903 Rainbow Blvd, Las Vegas, NV 89145-6230
      View Details
    • Value Estimation
      $585,000
      14,025 SF

      401 Buffalo Dr

      RETAIL STORES (PERSONAL SERVICES) • 14,025 SF
      401 Buffalo Dr, Las Vegas, NV 89145
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      6,200 SF

      Retail Space in Spring Valley

      Dominant shopping center with high visibility and strong co-tenancy.
      3553 S Rainbow Blvd, Las Vegas, NV 89145
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      1,300 SF

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      Dominant shopping center with high traffic and strong co-tenancy.
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    • $2.00 SF/Yr
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      Retail Space on Rainbow Boulevard

      Move-in ready retail space in a busy corridor.
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      1,600 SF

      Retail Space on Rainbow Boulevard

      1,600 sq ft retail space available for rent.
      4122 S Rainbow Blvd, Las Vegas, NV 89145
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      Retail Space in Las Vegas

      Retail space with amenities in a shopping center setting.
      440 S Rampart Blvd, Las Vegas, NV 89145
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    • Contact for pricing
      1,830 SF

      Retail Space Available For Lease

      Retail space available for lease in Las Vegas, Nevada.
      4230 S Rainbow Blvd, Las Vegas, NV 89145
      View Details
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    Las Vegas, NV 89145
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    Realmo Value Estimation

    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.

    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.

    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
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