6705 Lake Mead BlvdLas Vegas, NV 89156

Property Details for 6705 Lake Mead Blvd

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.40 AC

Property size (Sq ft)

13,302 SF

Property type

Drug stores

APN

140-23-315-005

APU

14023315005

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.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1952

Longitude

-115.026

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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