Las Vegas retail market report
Q4 2022

Inventory
Retail inventory (10,000 sf & up) totaled 2,416 buildings and accounted for 94,559,108 sf in the greater Las Vegas area to end 2022.
Net absorption
Development activity
However, development is expected to pick up in 2023, as 868,495 sf currently under construction heading into the new year.
Vacancy rate
The decline in vacancies has been largely fueled by rising tenant demand post-pandemic – with grocery stores, fitness clubs, and big box retailers making a resurgence by leasing larger vacant spaces in shopping centers and new mixed-use developments.
Rental rates
This large year-over-year increase in rental rates shows that tenants are willing to pay a premium to secure space in Vegas’s rebounding retail market.
Investment sales volume
Total sales volume increased from $746M in 2021 to $1.2B in 2022 – a 58.1% increase year-over-year. Average price per sf on retail sales increased $93 psf (45.5%) to $296 psf over the same period.
Your source for the latest Las Vegas retail market reports
Get in-depth retail market reports and insights from commercial real estate experts in the Greater Las Vegas area. Avison Young advisors look at Nevada's commercial real estate activities and the latest Las Vegas statistics to provide you expert market research on the area's retail properties.
Explore different topics like the latest retail market pricing trends and analysis of Las Vegas's current retail real estate market conditions. Gain a better understanding of the city’s retail real estate outlook and stay ahead of current retail space trends. Make smart decisions when it comes to investing in retail properties in Las Vegas's competitive retail real estate market. Avison Young is your trusted source for commercial real estate retail market insights in Las Vegas.
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