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2995 E Flamingo Rd
Las Vegas, NV 89121
LV Walgreens | Major Corridor to Vegas Strip · Retail Property For Sale
Investment Highlights
- Located less than 2 miles east of UNLV's 358-acre Maryland Campus, home to more than 33,000 students and 3,000 faculty and staff.
- Walgreens has operated at this site since 1996, with five years remaining on the current lease term.
- Positioned on Flamingo Road, which serves as a major east to west connector to the Las Vegas Strip with a combined traffic count of over 47,000 VPD.
- Located within 3 mi of Harry Reid International Airport, serving 55M+ passengers annually and connecting to Las Vegas’ key tourism & business markets.
Executive Summary
We are pleased to market for sale the Walgreens property located at 2995 East Flamingo Road 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.
Situated in the densely populated East Las Vegas market, the Property is surrounded by an infill mix of retail and residential with over 194,000 residents in a 3-mile radius. In addition to the dense retail and residential presence, the Property is located approximately 2 miles from UNLV's Maryland Campus, one of the Las Vegas Valley's largest economic and educational anchors, enrolling more than 33,000 students and employing over 3,000 faculty and staff.
The Property also benefits from its position on Flamingo Road, one of the city's largest east to west thoroughfares, with a combined traffic count of over 47,000 vehicles per day. This high-traffic corridor connects directly to the Property's broader regional strengths, located roughly 3 miles from the Las Vegas Strip and within 3 miles of Harry Reid International Airport (LAS), which handles more than 55 million passengers annually. This combination of major thoroughfare access and proximity to two of the region's largest tourism, employment, and transportation hubs helps drive sustained consumer traffic and long-term economic activity to the trade area.
Situated in the densely populated East Las Vegas market, the Property is surrounded by an infill mix of retail and residential with over 194,000 residents in a 3-mile radius. In addition to the dense retail and residential presence, the Property is located approximately 2 miles from UNLV's Maryland Campus, one of the Las Vegas Valley's largest economic and educational anchors, enrolling more than 33,000 students and employing over 3,000 faculty and staff.
The Property also benefits from its position on Flamingo Road, one of the city's largest east to west thoroughfares, with a combined traffic count of over 47,000 vehicles per day. This high-traffic corridor connects directly to the Property's broader regional strengths, located roughly 3 miles from the Las Vegas Strip and within 3 miles of Harry Reid International Airport (LAS), which handles more than 55 million passengers annually. This combination of major thoroughfare access and proximity to two of the region's largest tourism, employment, and transportation hubs helps drive sustained consumer traffic and long-term economic activity to the trade area.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,905 SF
Building Class
B
Year Built
1996
Price
$3,972,413
Price Per SF
$285.68
Cap Rate
7.25%
NOI
$288,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.52 AC
Zoning
C-1 - Commercial
Parking
30 Spaces (2.16 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 162-24-112-010 | Improvements Assessment | $616,813 |
| Land Assessment | $295,467 | Total Assessment | $912,280 |
Property Taxes
Parcel Number
162-24-112-010
Land Assessment
$295,467
Improvements Assessment
$616,813
Total Assessment
$912,280
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