Las Vegas Retail Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from CBRE, Lee Associates, Cushman & Wakefield, Colliers
Quarterly retail market indicators for Las Vegas, aggregated by PropZone from CBRE, Lee Associates, Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $30.84/SF with a 12.0% vacancy rate.
Projected current retail pricing — Las Vegas
low confidenceProjected asking rent
$32.55–$33.01/SF/yr
Estimated sale value
$302–$386/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 6.5%, asking rent trend-adjusted to today). Assumes ~92% occupancy (vacancy not reported) and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $30.84/SF | 12.0% | 123K SF | — | CBRE |
| Q1 2026 | $34.25/SF | 5.2% | 16K SF | — | Lee Associates |
| Q1 2026 | — | 1.8% | — | — | Cushman & Wakefield |
| Q4 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q2 2025 | — | 4.3% | 238K SF | — | Colliers |
| Q3 2017 | — | 2.0% | — | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for retail space in Las Vegas?
- As of Q1 2026, the average asking rent for retail space in Las Vegas was $30.84/SF, per CBRE.
- What is the retail vacancy rate in Las Vegas?
- The retail vacancy rate in Las Vegas was 12.0% as of Q1 2026 (CBRE).
- Where does PropZone's Las Vegas market data come from?
- This report aggregates quarterly retail market data for Las Vegas from CBRE, Lee Associates, Cushman & Wakefield, Colliers.
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