Las Vegas Retail Market Report
First Quarter 2026
Inventory
Total retail inventory in the Las Vegas market area amounted to 122,550,943 square feet, down 1,268,649 square feet from one year ago, reflecting a 1.02% decrease. There are currently 1,493,669 square feet under construction, an increase of 563,892 square feet (+60.65%) compared to this time last year.
Sale Activity
In the first quarter, 65 retail transactions closed with a total volume of $96,389,024.
The 65 buildings totaled 598,710 square feet, and the average price per square foot equated to $238.61.
Current market Cap Rates are reported to be 6.4%.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas retail market was the sale of 625 N. Stephanie St. The property was sold on February 12, 2026, for $7,680,000. The building totaled 53,306 square feet and sold for $144.14 per square foot.
The Buyer was Agree Limited Partnership, and the Seller was Hl American Investments Llc.
The information in this post has been sourced by and is credited to ©2026 CoStar Group, Inc.
