Listed by Matthews
$6,800,000
545 East Sahara Avenue
Details
Property Type Retail, Hospitality
Sub Type Hotel
Square Footage 32,029
NOI $117,377
Occupancy 36.89%
Tenancy Single
Remaining Term 1
Price per SqFt $212
Year Built 1963
Stories 1
Acreage 1.490
Zoning CR
Ground Lease No
Value-Add Las Vegas Strip Center with Major Redevelopment Upside and Below-Market Rents
Investment highlights
- LAS VEGAS RETAIL: Strategically located just off Las Vegas Boulevard on East Sahara Avenue, East Sahara Plaza presents a rare opportunity to acquire a well-located retail asset in one of the most dynamic corridors in Las Vegas. Offered for the first time in over 20 years, the property benefits from immediate proximity to major demand drivers including Sahara Las Vegas, Las Vegas Monorail, Las Vegas Convention Center, Fontainebleau Las Vegas, and Las Vegas Country Club. The location offers exceptional accessibility and long-term redevelopment relevance within the Resort Corridor.
- IMMEDIATE VALUE ADD POTENTIAL: The property is currently 36.89% occupied across ±32,029 SF, presenting a clear and executable lease-up strategy. With 22 vacant suites totaling ±20,214 SF, investors have the ability to rapidly increase occupancy, drive NOI, and create meaningful value through active asset management and stabilization.
- BELOW MARKET RENTS: Existing rents average $18.12 PSF annually ($1.51/month), significantly below market. Comparable retail properties in the immediate submarket are achieving approximately $28.36 PSF, representing over 55% upside. Re-tenanting and rolling leases to market provides a direct path to revenue growth and yield expansion.
- FAVORABLE SUBMARKET DYNAMIC: The East Sahara submarket demonstrates strong underlying fundamentals, with vacancy at approximately 8.7%—well below the subject asset’s current vacancy—highlighting significant leasing demand. Leasing activity has increased nearly 50% year-over-year, supporting a highly active and liquid tenant market.
- HIGHLY DESIRABLE FLEXIBLE ZONING (CR): Beyond near-term cash flow, the asset offers long-term redevelopment optionality. The ±1.49-acre parcel is zoned Commercial Resort (CR), allowing for up to 190 feet of vertical development by right. This provides flexibility for high-density mixed-use, hospitality, or retail redevelopment while generating interim income.
- HIGH-VISIBILITY + EXCELLENT TRAFFIC EXPOSURE: The site features extensive frontage along East Sahara Avenue, offering excellent visibility, signage potential, and multiple points of ingress and egress. Traffic counts exceed 50,000 vehicles per day, reinforcing the property’s retail viability and exposure.
- MONORAIL AND LAS VEGAS CONVENTION CENTER: The property is within walking distance (approximately 0.4 miles) to the Sahara Monorail Station, providing direct connectivity along the Strip. Additionally, its proximity to the Convention Center positions the site to benefit from consistent visitor traffic, supporting retail, hospitality, and short-term rental demand.
- ATTRACTIVE BASIS IN A HIGH-GROWTH CORRIDOR: Offered at $6.8 million, the property represents a compelling basis of approximately $104.77 per square foot. The surrounding trade area is supported by over 522,566 residents within a 5-mile radius and more than $1.8 billion in annual consumer spending within 3 miles.
- ESTABLISHED RETAIL CORRIDOR W NATIONAL TENANCY: The immediate trade area is anchored by a strong mix of national and regional retailers, including Las Vegas Athletic Club, Smith’s Food and Drug, Chase Bank, Bank of America, McDonald’s, Sonic Drive-In, Starbucks, 7-Eleven, Walgreens, Planet Fitness, AutoZone, and O’Reilly Auto Parts, as well as the Historic Commercial Center District.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$117,377.00
$9,781.42/mo
Valuation Metrics
0
DSCR
1.73%
Cap Rate
1.73%
ROI
Map
Zoning
CR CommercialSpecial CommercialCommercial Resort
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 157 uses
View all 157 uses Last updated Jan 15, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Is there information that looks off?
