The Shoppes on Rainbow

1200 S. Rainbow Blvd., Las Vegas, NV 89146

— Recently Sold • Represented Seller —


Size +/- 64,610 SF

Cape Rate 7.3%

Property Information

Property Overview

LOGIC Commercial Real Estate is pleased to exclusively offer for sale The Shoppes on Rainbow, a +/- 64,610 SF neighborhood retail center that was developed in 1990 within a thriving Summerlin-adjacent suburb of Las Vegas, NV. The property has frontage along S. Rainbow Blvd. and is located near W. Charleston Blvd. with combined nearby traffic counts in excess of +/- 99,000 CPD. The asset is situated on a +/- 3.65 AC parcel and services an active retail corridor with co-tenants including The Home Depot, Sprouts, Goodwill, Ross Dress For Less, O’Reilly, Wendy’s, and America First Credit Union.

The Shoppes on Rainbow is 97% leased to an internet resistant tenant-mix, offering a stabilized opportunity to investors with below market rents. The site is surrounded by a dense and mature trade area consisting of +/- 485,210 residents with an average household income of +/- $74,424 within a 5-mile radius. The center is well-positioned to the east of affluent neighborhoods such as The Lakes, Canyon Gate, Peccole Ranch, Calida, and One Queensridge Place.

Investment Highlights

Stabilized Retail Center | Below Market Rents:

  • Delivered at 97% occupancy, the asset presents investors a stabilized opportunity with long-term upside.
  • Rolling lease expirations and below market rents allow for market rent adjustments.
  • Average submarket rent is $20.14 PSF, compared to average in place rents of $11.44 PSF.

Unique Tenant Mix | Internet Resistant Services:

  • AutoZone and Dollar Tree – Investment Grade Credit.
  • The center consists of national, regional, and local tenants.
  • Internet resistant services provided, such as auto, sporting, beauty, furniture, convenience/small grocery services.

Desirable Retail Corridor | Strong Traffic Counts: 

  • Strategically located with all tenants fronting S. Rainbow Blvd., a major north/south thoroughfare carrying +/- 64,500 CPD. 
  • Located just south of W. Charleston Blvd. – a main east/west thoroughfare carrying +/- 34,500 CPD.
  • Easy access into the center with a dedicated turn lane and 
  • Pylon visibility.
  • Nearby co-tenants include The Home Depot, Sprouts, Goodwill, Ross Dress For Less, O’Reilly’s, Wendy’s and America First Credit Union

No State Income Tax:

  • Nevada, as a state, has no income tax. Consult your accountant for more details.