Submarket Comparison · Las Vegas Valley
Three very different industrial submarkets, three very different answers depending on what your business actually needs. Here's a direct comparison — rates, sizes, highway access, and which one fits your situation.
There's no single "best" Las Vegas industrial submarket — there's a best fit for your specific size, budget, and use case. North Las Vegas, Henderson, and the West Strip have genuinely different inventory profiles, and the right call depends on whether you're optimizing for lowest cost, largest available size, building age, or proximity to the Strip corridor. This page lays out the real differences directly, side by side.
The Comparison
Side-by-side comparison of the three submarkets across the factors that actually matter when choosing a location.
| Factor | West Strip | North Las Vegas | Henderson |
|---|---|---|---|
| Typical Rate /SF/YR NNN | $13.20–$16.80 | ~$13.83 avg | $16.00–$19.00 avg |
| Size Range | 2,000–20,000 SF | 2,000–505,000+ SF | 1,500–330,000+ SF |
| Dominant Building Type | Small-bay flex | Large-format distribution | Mixed — flex, distribution, condo |
| Highway Access | I-15 (fast Strip access) | I-15, US-95 | I-515, I-215, US-95, SR-146 |
| Building Age Mix | Older, established | Mix — significant new construction | Wide range, 1980s to brand-new |
| Ownership Options | Rare | Rare | Available — industrial condos |
| Best Fit For | Small contractors, e-commerce, fab shops needing Strip proximity | Large distribution, 3PL, national logistics | Diversified users, owner-occupants, international trade |
Rates and figures compiled from current market listings and may shift; building-class mix (A/B/C) drives the widest variation within each submarket. Last updated June 2026.
Rate Comparison
North Las Vegas generally runs the lowest on average — but the real answer depends on building class, not just submarket.
On pure average asking rate, North Las Vegas comes in lowest at roughly $13.83/SF/YR NNN, driven by a large stock of older Class B and C distribution buildings along Craig Road and Rancho Drive. The West Strip runs a similar $13.20–$16.80 range, but for a different reason — it's almost entirely small-bay flex space rather than large distribution. Henderson runs highest on average, $16–19/SF/YR, largely because its inventory mix skews toward newer Class A construction and a wider range of building types.
The catch: averages hide a lot. A new Class A building in North Las Vegas can easily out-price an older Class B unit in Henderson. If rate is your top priority, the building's age and class matter more than which submarket it's in — which is exactly the kind of detail a market-knowledgeable tenant rep should be checking before you sign, not after.
Size Comparison
Your required square footage narrows this decision more than almost any other factor.
All three submarkets have viable options. The West Strip has the deepest small-bay inventory specifically built for this range, plus the shortest drive to the Strip corridor.
Henderson and North Las Vegas both have strong mid-size inventory here. Henderson skews toward newer construction; North Las Vegas often offers a lower rate for comparable specs.
North Las Vegas is the strongest fit by a wide margin — it has more large-format, dock-high distribution inventory than either other submarket, including buildings over 200,000 SF.
Decision Framework
A few honest rules of thumb based on what actually drives the right answer.
Choose the West Strip if you need 2,000–20,000 SF, want to stay close to the Strip corridor, and run a small fabrication, contractor, or e-commerce operation that doesn't need massive clear heights or dock-high loading at scale.
Choose North Las Vegas if you need a large-format distribution facility, run a 3PL or national logistics operation, or simply want the widest selection of big-box inventory at the most competitive average rate in the valley.
Choose Henderson if you want a more diversified mix of building types and ages, you're interested in eventually owning rather than leasing (Henderson is one of the only Las Vegas submarkets with active industrial condo development), or you need Foreign Trade Zone benefits for international trade.
None of these rules are absolute — the right move is usually to compare 2–3 specific options across submarkets rather than committing to one area before seeing what's actually available. Jason Helliwell has represented tenants across all three submarkets since 1991 and can pull comparable options from each, side by side, based on your specific size, budget, and timeline.
Tell Jason your size, budget, and timeline — he'll pull comparable options from Henderson, North Las Vegas, and the West Strip so you can compare directly. Free tenant representation — his fee is paid by the landlord.
Common Questions
Go Deeper
Small-bay industrial and flex space, 2,000–20,000 SF, fast access to the Strip corridor.
The valley's largest distribution and logistics submarket, with the widest size range available.
A diversified mix of building classes and ages, plus rare industrial condo ownership options.