Las Vegas Retail Market Report
Second Quarter 2025
Inventory
Total retail inventory in the Las Vegas market area amounted to 122,597,016 square feet, up 584,871 square feet from one year ago, reflecting a 0.48% increase.
There are currently 1,339,085 square feet under construction, an increase of 165,267 square feet (up 14.08%) compared to this time last year.
Sale Activity
In the second quarter, 64 retail transactions closed with a total volume of $348,544,971. The 64 buildings totaled 1,219,785 square feet and the average price per square foot equated to $283.26 per square foot. The average Cap Rates were 5.9%.
Mark of a Market
One of the most significant transactions that occurred within the Las Vegas market was the sale of 1425–1445 W Sunset Road – Crossroads at Sunset Plaza. The property was sold on June 20, 2025 for $14,850,000. The building totaled 62,670 square feet and sold for $236.96 per square foot. The Buyer was Sunset Stephanie LLC (MYD Real Estate). The Seller was Crossroads Sunset Holdings LLC (Great American Capital).
The information in this post has been sourced by and is credited to ©2025 CoStar Group, Inc.
