6705 Lk Mead Blvd, Las Vegas, NV 89156-1101
- Drug stores
- 13,302 SF
- 1.40 lot acres
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store / Printing Service
- Coinhub Bitcoin ATM Teller / Atm
- CDReload - Online Bitcoin ATM / Atm / Currency Exchange Service
- MoneyGram / Bank / Credit Union
- LibertyX Bitcoin ATM / Atm
Property Details for 6705 Lk Mead Blvd
- Year built
- 1999
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.40 lot acres
- Property type
- Drug stores
- APN
- 140-23-315-005
- APU
- 14023315005
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 18, 2007 | $3,529,618 | Scp 2006-c23-099 LLC | Nevada Cvs Pharmacy LLC | Bargain And Sale Deed | $3.4M · Wells Fargo Bank Northwest NA |
| Jun 28, 2006 | $3,500,000 | Nevada Cvs Pharmacy LLC | American Stores Properties LLC | Quit Claim Deed · related | — |
Description
This exceptional investment opportunity presents the fee simple ownership of a 15,600-square-foot CVS Pharmacy in Las Vegas, Nevada. The property, built in 1999, sits on a 1.4-acre lot with 57 parking spaces and features a drive-thru. The property is zoned C-2: General Commercial District and boasts a 7.25% cap rate with a current NOI of $279,727. The absolute NNN lease with CVS, America's leading retail pharmacy, commenced December 1, 2006, and has a remaining term of 7.2 years with 10 five-year renewal options, extending to January 31, 2032. The asking price is $3,858,000 ($247.31/sq ft). This strategically located property is situated at a signalized intersection with high daily traffic volume (over 43,000 vehicles per day) and benefits from proximity to State Highway 612 (56,100 VPD). It's an outparcel of Sunrise Plaza, a 99,000-square-foot neighborhood center anchored by a high-performing Albertsons. The area features strong demographics, including a dense residential population and high average household income (over $75,000 within a 1-mile radius). Nearby national tenants include Walmart, Lowe's, and Dollar Tree, creating synergistic retail appeal. Multiple apartment complexes within walking distance provide a substantial consumer base. The property's location, strong tenant, and lease terms make it an ideal, management-free investment in a tax-free state. The APN is 140-23-315-005.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $5,005,000
- 6.5%
- $4,620,000
- 7%
- $4,290,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,975,000 Current use
- OFFICE BUILDING
- $4,030,000 Change: -19% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.026
- Latitude
- 36.1952
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
