Las Vegas has approximately 75 million square feet of commercial space dominated by retail, hospitality, and industrial. The Strip retail commands among the highest rents in the US. Nevada has no state income tax and is landlord-friendly. The market has seen significant industrial growth from logistics and e-commerce fulfillment.
By Angel Campa, Founder · Updated March 2026
Commercial Space
75M sq ft
Avg Office Rent
$22–$38/sq ft
Vacancy Rate
14%
Avg Lease Term
5–15 years
Strip retail leases use NNN with percentage rent. Convention center adjacent retail has unique high-season provisions. Industrial is NNN. Office is Modified Gross. Gaming industry leases often include specialized use provisions.
Nevada Landlord–Tenant Guide
State-specific commercial lease laws, notice periods, and tenant rights for Nevada →
Strip retail leases combine high NNN base rents with percentage rent provisions tied to gross sales. Gross sales reporting requirements and breakpoint calculations are among the most critical provisions to extract accurately.
A complete reference for commercial lease financial terms. Covers base rent, escalations, NNN vs gross, TI allowances, and percentage rent with examples.
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