240 S Rainbow Blvd - Freestanding FOR SALE


Las Vegas, NV 89145- Charleston Preservation
$9,025,000 USD
702-215-7120
240 S Rainbow Blvd, Las Vegas, NV for Sale
$9,025,000 USD
Freestanding - FOR SALE
1/28
null | 6.95% Cap Rate

240 S Rainbow Blvd
Las Vegas, NV 89145
Charleston Preservation


HIGHLIGHTS

  • Rainbow Express is a 100% Leased 42,865 SF Retail Center sitting on 4.28 acres of land, constructed in 1983 and situated in West Las Vegas
  • Crunch Fitness has executed a lease and is opening in the former Conn’s space directly adjacent to the subject property, further enhancing traffic.
  • Rainbow Express is anchored by a top-performing Harbor Freight Tools, occupying 42 percent of the project’s gross leasable area.
  • The property also features Camp Bow Wow’s top-performing Las Vegas location, part of a network of over 200 locations nationwide.
  • Property features below market rents with an average of $1.55 PSF NNN limiting an investors downside risk.
  • Nevada is an Income Tax free State | 1 of 9 in the US

OVERVIEW

The center is anchored by a top-performing Harbor Freight, which occupies 42% of the total GLA and ranks within the top 14% nationally according to Placer.ai. Crunch Fitness has executed a lease to occupy the former Conn’s space directly adjacent to the property, further driving traffic and strengthening tenant synergy. The property also includes Camp Bow Wow’s highest-performing Las Vegas location, part of a national network of more than 200 facilities. Additionally, Dream Kabob is recognized as the premier Persian cuisine destination in the Las Vegas Valley. This property presents a compelling investment opportunity for an investor seeking strong fundamentals and long-term upside in a high-growth market. Strategically located along South Rainbow Blvd with exceptional frontage—545 linear feet—the site benefits from outstanding visibility to approximately 49,000 vehicles per day. Situated just 0.2 miles from the on/off ramp for I-95 and N Rainbow Blvd, accessibility is excellent, further supported by a robust surrounding demographic profile, including 70,940 households and a daytime population of 231,873 within a 3-mile radius. The average household income in this trade area is $82,222, indicating strong consumer spending potential.

FOR SALE DETAILS

PRICE

$9,025,000 USD

PRICE/SF

$497 USD /SF

CAP RATE

6.95%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rainbow Express Center | 43k SF Fully Leased

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Fast Food, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.28 AC

LAND SF

186,437 SF

ZONING

C-1

APN/PARCEL ID

138-34-501-004,138-34-501-005,138-34-501-006,138-34-501-009

ASK ABOUT THIS PROPERTY

Dustin AlvinoMarcus & MillichapMore Info
702-215-7120

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Dustin AlvinoMarcus & MillichapMore Info
702-215-7120

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.