Las Vegas Commercial Real Estate Market Stats

 

 

Las Vegas, NV Market TrendsBETA From LoopNet

Asking Price Index Trends for Commercial Real Estate

Industrial Property Asking Price Index Trends

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$6.45 -1.9% -7.1%
-

Metro

$6.50 -2.4% -12.1%
-

County

$6.53 -2.4% -12.2%
-

City

$6.91 -3.4% -12.0%

The average asking rental rate per sq ft/year for Industrial properties in Las Vegas, NV as of May 11 was $6.91. This represents a decrease of -3.4% compared to the prior 3 months, with a decrease of -12.0% year-over-year. County-wide, average rental rates in Las Vegas are -2.4% lower at $6.53 per sq ft/year for Industrial properties currently for lease.

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$87 -3.6% -26.0%
-

Metro

$98 -1.6% -24.6%
-

County

$99 -1.5% -23.7%
-

City

$104 -1.9% -20.2%

Current Las Vegas market trends data indicates a decrease of -1.9% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -20.2% compared to last year’s prices. County-wide, asking prices for Industrial properties are -1.5% lower at $99 per sq ft compared to the current median price of $104 per sq ft for Industrial properties in Las Vegas, NV.

Multifamily Property Asking Price Index Trends

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$50,287 -0.7% -23.4%
-

Metro

$43,772 -0.8% -32.2%
-

County

$44,915 -2.1% -30.5%
-

City

$47,265 -8.8% -27.3%

Current Las Vegas market trends data indicates a decrease of -8.8% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -27.3% compared to last year’s prices. County-wide, asking prices for Multifamily properties are -2.1% lower at $44,915 per unit compared to the current median price of $47,265 per unit for Multifamily properties in Las Vegas, NV.

Office Property Asking Price Index Trends

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$15.98 -0.7% -8.3%
-

Metro

$16.19 -0.5% -10.3%
-

County

$16.25 -0.5% -10.3%
-

City

$16.51 +0.1% -9.7%

The average asking rental rate per sq ft/year for Office properties in Las Vegas, NV as of May 11 was $16.51. This represents an increase of 0.1% compared to the prior 3 months, with a decrease of -9.7% year-over-year. County-wide, average rental rates in Las Vegas are -0.5% lower at $16.25 per sq ft/year for Office properties currently for lease.

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$133 -3.3% -28.0%
-

Metro

$124 -2.1% -33.7%
-

County

$125 -2.1% -32.9%
-

City

$126 -2.1% -34.0%

Current Las Vegas market trends data indicates a decrease of -2.1% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -34.0% compared to last year’s prices. County-wide, asking prices for Office properties are -2.1% lower at $125 per sq ft compared to the current median price of $126 per sq ft for Office properties in Las Vegas, NV.

Retail Property Asking Price Index Trends

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$15.25 -3.5% -20.8%
-

Metro

$15.08 -4.1% -28.0%
-

County

$15.27 -4.3% -27.0%
-

City

$15.28 -4.2% -22.4%

The average asking rental rate per sq ft/year for Retail Commercial properties in Las Vegas, NV as of May 11 was $15.28. This represents a decrease of -4.2% compared to the prior 3 months, with a decrease of -22.4% year-over-year. County-wide, average rental rates in Las Vegas are -4.3% lower at $15.27 per sq ft/year for Retail Commercial properties currently for lease.

  May 11 vs. 3 mo.
prior
Y-O-Y
-

State

$172 +2.7% -14.3%
-

Metro

$187 +4.6% -13.3%
-

County

$192 +4.2% -13.9%
-

City

$204 +3.5% -16.0%

Current Las Vegas market trends data indicates an increase of +3.5% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -16.0% compared to last year’s prices. County-wide, asking prices for Retail Commercial properties are 4.2% higher at $192 per sq ft compared to the current median price of $204 per sq ft for Retail Commercial properties in Las Vegas, NV.

Asking Price / Asking Rent:“Asking” refers to the dollar amount listed on the LoopNet marketplace. Charts are based on an index of data from the LoopNet marketplace by a given property type in a given geography. Asking Rent Trends are obtained by weighting each rental rate by the space available and dividing it by the sum of the total space available.County / Metro: County and Metro refer to the parent county and metro of the city. “Metro” is a term LoopNet utilizes and refers to the U.S. Census Bureau definitions of metropolitan and micropolitan statistical areas, collectively referred to as CBSAs (learn more). For example a chart representing the city of Las Vegas may contain data representing the county of Clark and the metropolitan statistical area.

Y-O-Y: A comparison to the same period in the previous year.

vs. 3 mo prior: A comparison to the average of the 3 months before the current month.

The information above is based on LoopNet research and analysis of data that have been obtained from sources believed to be reliable. LoopNet makes no warranty or representation, express or implied about this information.

 Posted by at 9:54 pm