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6101 W Lake Mead Blvd
Las Vegas, NV 89108
Las Vegas Walgreens | Replaceable Rent Levels · Retail Property For Sale
Investment Highlights
- Walgreens has operated at this site since 1996, with five years remaining on the current lease term.
- Northeast corner of W. Lake Mead Blvd. & N. Jones Blvd., with ±48,700 VPD; 1 mile from I-11 with ±174,000 VPD.
- Over 5.1 million square feet of existing retail space within a 2 mile radius of the property.
- Walgreens benefits from dense infill demographics with over 71,299 households and 196,470 residents in a 3-mile radius.
- Replaceable rent levels with Walgreens paying $17.04 in rent, which is under market rents of $25/sf.
Executive Summary
We are pleased to market for sale the Walgreens property located at 6101 West Lake Mead Boulevard in Las Vegas, Nevada (“The Property”). Walgreens has been successfully operating at this location for over 29 years and has 5 years of firm term remaining with 7 (5-year) options to renew.
The Property is located in the Northwest Las Vegas market at the signalized, hard-corner intersection of West Lake Mead Boulevard and North Jones Boulevard, with a combined traffic count of approximately 48,700 vehicles per day. The site further benefits from its proximity to Interstate 11, situated within one mile of the Property and carrying approximately 174,000 vehicles per day, providing exceptional regional connectivity and strong consumer visibility throughout the trade area.
The Property is positioned within a dense, infill trade area supported by over 71,299 households and 196,470 residents within a three-mile radius. This strong population base is further reinforced by an established retail corridor, with over 5.1 million square feet of existing retail space within a two-mile radius of the Property.
Walgreens currently occupies the Property at an in-place rent of $17.04 per square foot, which is under market rent levels of $25 per square foot, providing investors the rare opportunity to acquire a national net-leased tenant with replaceable rent levels.
The Property is located in the Northwest Las Vegas market at the signalized, hard-corner intersection of West Lake Mead Boulevard and North Jones Boulevard, with a combined traffic count of approximately 48,700 vehicles per day. The site further benefits from its proximity to Interstate 11, situated within one mile of the Property and carrying approximately 174,000 vehicles per day, providing exceptional regional connectivity and strong consumer visibility throughout the trade area.
The Property is positioned within a dense, infill trade area supported by over 71,299 households and 196,470 residents within a three-mile radius. This strong population base is further reinforced by an established retail corridor, with over 5.1 million square feet of existing retail space within a two-mile radius of the Property.
Walgreens currently occupies the Property at an in-place rent of $17.04 per square foot, which is under market rent levels of $25 per square foot, providing investors the rare opportunity to acquire a national net-leased tenant with replaceable rent levels.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,905 SF
Building Class
B
Year Built
1996
Price
$4,705,804 CAD
Price Per SF
$338.43 CAD
Cap Rate
7%
NOI
$329,406 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.36 AC
Zoning
C-1 - Commercial
Parking
58 Spaces (4.17 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 138-23-702-003 | Improvements Assessment | $849,237 CAD |
| Land Assessment | $422,751 CAD | Total Assessment | $1,271,988 CAD |
Property Taxes
Parcel Number
138-23-702-003
Land Assessment
$422,751 CAD
Improvements Assessment
$849,237 CAD
Total Assessment
$1,271,988 CAD
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