Las Vegas Retail Market Report
Third Quarter 2025
Inventory
Total retail inventory in the Las Vegas market area amounted to 123,140,680 square feet, up 934,714 square feet from one year ago, reflecting a 0.77% increase. There are currently 917,972 square feet under construction, a decrease of 176,465 square feet (-16.12%) compared to this time last year.
Sale Activity
In the third quarter, 93 retail transactions closed with a total volume of $218,180,841.
The 93 buildings totaled 803,471 square feet, and the average price per square foot equated to $305.45.
Current market Cap Rates average 6.1%.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas retail market was the sale of 9475 S. Rainbow Blvd. The property was sold on September 11, 2025, for $9,127,143. The building totaled 22,638 square feet and sold for $403.18 per square foot.
The Buyer was Alexander Square LLC (Huan Quan Mai), and the Seller was K & J’s Excellent Adventure LLC (J Dapper).
The information in this post has been sourced by and is credited to ©2025 CoStar Group, Inc.
