Real estate, by industry

What drives value: visibility, ingress/egress, parking ratios, co-tenancy, daytime population and trade-area demographics. For retail, the right corner can matter more than the square footage.

Lease structure: retail is typically leased on a triple-net (NNN) basis, where tenants pay base rent plus their share of taxes, insurance and common-area maintenance (CAM). Restaurants often require grease traps, enhanced ventilation, higher power and water capacity, and patio rights — second-generation restaurant space can save substantial build-out cost.

Las Vegas note: tourist-corridor retail, neighborhood centers in growing suburbs like Summerlin and Henderson, and the reviving Arts District each serve very different customers. Match the location to your concept.

What drives value: building class (A/B/C), location and access, parking ratio, floor-plate efficiency, and amenities. Medical office (MOB) additionally values proximity to hospitals, plumbing/HVAC capacity, and ADA-compliant layouts.

Lease structure: office leases may be full-service/gross (landlord pays operating expenses up to a base year) or modified gross. Tenant improvement (TI) allowances and free rent are common negotiation levers. Watch the load factor — the difference between usable and rentable square footage.

Las Vegas note: demand has shifted toward flexible, amenitized, and medical space. Suburban submarkets in the southwest and Henderson have seen strong professional and healthcare absorption.

What drives value: clear height, dock-high and grade-level loading, truck court depth, power capacity, column spacing, and freeway access. Modern distribution favors 32'+ clear height and ESFR sprinklers.

Lease structure: almost always NNN. Key terms include trailer parking, yard space, and expansion options. For owner-users, SBA financing can make ownership competitive with leasing.

Las Vegas note: the North Las Vegas and Apex submarkets have become major industrial growth corridors, fueled by e-commerce and Western U.S. distribution serving the California megaregion. Industrial has been one of the Valley's tightest, most in-demand asset classes.

What drives value: net operating income (NOI), unit mix, location, condition, and the spread between in-place rents and market rents. Value-add investors target properties where renovation and management can lift rents.

How it's valued: multifamily trades on cap rate (NOI ÷ price). Even small NOI improvements can create outsized value at a given cap rate. Understand expense ratios, deferred maintenance, and rent-roll quality.

Las Vegas note: sustained population growth and relative affordability versus coastal markets have made the Valley a long-running target for multifamily investors, including significant out-of-state and 1031-exchange capital.

What drives value: RevPAR (revenue per available room), occupancy, average daily rate (ADR), brand/flag, and proximity to demand generators. Hospitality is operationally intensive and sensitive to tourism cycles.

Considerations: franchise agreements, property improvement plans (PIPs), management contracts, and capital reserves all materially affect returns. Boutique and extended-stay concepts have distinct underwriting.

Las Vegas note: as one of the world's premier tourism and convention destinations, the Valley supports everything from Strip resorts to off-Strip select-service and extended-stay properties serving conventions, sports and leisure travel.

What drives value: zoning and licensing are everything. Cannabis cultivation, production, and dispensary uses must comply with state licensing and local zoning, including buffer/distance requirements from schools and other sensitive uses.

Considerations: properties may require significant power, HVAC and security build-out. Lease and financing structures differ from conventional commercial deals, and compliance is paramount.

Las Vegas note: Nevada has an established regulated cannabis market. Site selection must be coordinated with current state and municipal regulations — always confirm licensing and zoning before committing. This is general information, not legal advice.

What drives value: special-purpose assets — auto service, car washes, self-storage, medical/dental, fitness, childcare — depend on zoning fit, traffic, visibility, and trade-area demand specific to the use.

Considerations: these properties often carry use-specific improvements that limit re-tenanting, so location and demand fundamentals matter even more. Self-storage and car washes have become institutional favorites for their margins and durability.

Las Vegas note: rapid suburban rooftop growth in the southwest, Henderson and North Las Vegas continues to create demand for convenience and service retail.

What drives value: entitlements, zoning, utilities/infrastructure access, topography, and the highest-and-best use given surrounding development. Raw land is a bet on the path of growth.

Considerations: due diligence on entitlements, environmental conditions, and offsite improvement costs is critical. A significant share of developable land in Southern Nevada is federally controlled, which affects supply and pricing dynamics.

Las Vegas note: the Valley's growth corridors continue to push outward, and well-located, entitled land remains a sought-after long-term play.