Henderson has rapidly established itself as one of the most attractive industrial markets in the Western United States. The city's West Henderson industrial corridor, anchored by Haas Automation's massive manufacturing campus and supported by Amazon distribution facilities, has transformed from open desert into a thriving hub of warehouse, manufacturing, and logistics operations. With approximately 12.4 million square feet of industrial inventory and vacancy rates running below the Las Vegas metro average, Henderson offers industrial property investors and owner-occupants a compelling combination of tenant demand, rent growth, and Nevada's zero state income tax advantage.
Understanding the financing landscape for Henderson industrial properties is essential whether you are acquiring a stabilized warehouse investment, building a new manufacturing facility, or purchasing an owner-occupied distribution center through SBA programs. This guide covers every loan option available for Henderson industrial properties, from conventional commercial mortgages to SBA 504 loans designed specifically for owner-users.
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Why Is Henderson Emerging as a Top Industrial Market in the Southwest?
Henderson's industrial growth story is driven by several converging factors that have created sustained demand for warehouse, distribution, and manufacturing space across the city.
The West Henderson industrial corridor has been the primary engine of growth. Anchored by Haas Automation's manufacturing campus spanning over 2 million square feet, this corridor has attracted a diverse tenant base that includes logistics operators, light manufacturers, technology companies, and food processing firms. The corridor benefits from direct access to Interstate 11, Interstate 215, and US Highway 95, providing efficient regional distribution capability to markets across the Southwest including Los Angeles, Phoenix, Salt Lake City, and Denver.
Nevada's business-friendly tax environment is a powerful draw for industrial tenants and property investors alike. The state imposes no corporate income tax, no personal income tax, and no franchise tax. For industrial operations with significant payroll and revenue, these savings can amount to hundreds of thousands of dollars annually. This tax advantage has driven a steady stream of California industrial users relocating to or expanding in Henderson, bringing their space requirements and lease obligations with them.
Henderson's proximity to the Las Vegas Strip and McCarran International Airport adds another dimension of industrial demand. Hospitality supply chain operations, convention logistics, and food service distribution all require significant warehouse space within efficient delivery distance of the resort corridor. Henderson's location provides that access while offering lower land costs and a more predictable operating environment than properties closer to the Strip.
The city's population growth of approximately 8.2% annually creates a growing consumer base that supports last-mile distribution, retail fulfillment, and service-oriented industrial operations. As Henderson's residential communities in Green Valley, Anthem, and the master-planned developments continue to expand, the local consumer market deepens and diversifies.
What Types of Industrial Loans Are Available in Henderson?
Henderson industrial property buyers and owners can access a broad range of financing programs, each designed for different property types, investment strategies, and borrower profiles.
Conventional commercial mortgages from banks, credit unions, and life insurance companies represent the most common financing for stabilized Henderson industrial investment properties. Rates range from 5.75% to 7.25% as of early 2026, with loan-to-value ratios up to 75% and terms of 5 to 10 years on 25 year amortization schedules. These loans work best for leased industrial properties with creditworthy tenants and remaining lease terms of three or more years. Lenders evaluate both the property's income stream and the tenant's financial strength when underwriting these loans. Visit our permanent loan programs page for additional details.
CMBS and conduit loans provide non-recourse financing for larger Henderson industrial assets, typically valued at $2.5 million or more. Rates range from 6.00% to 7.50% with terms of 5 to 10 years. The non-recourse structure limits the borrower's personal liability to standard carve-outs for fraud, environmental violations, and voluntary bankruptcy. CMBS loans focus primarily on the property's net operating income and debt service coverage ratio rather than the borrower's personal financial statement.
SBA 504 loans are the premier financing option for owner-occupied Henderson industrial properties. The program combines a conventional first mortgage (approximately 50% of the project cost), an SBA-backed second mortgage through a Certified Development Company (approximately 40%), and a borrower down payment of just 10%. The SBA portion carries a below-market fixed rate for 20 to 25 years, currently around 5.64% to 6.50%. For Henderson manufacturers, distributors, and service companies purchasing their own facilities, the SBA 504 program offers the lowest total cost of ownership.
SBA 7(a) loans provide more flexible terms for owner-occupied industrial properties and can include working capital, equipment, and inventory financing alongside the real estate. Rates are variable, typically prime plus 1.5% to 2.75%, with terms up to 25 years for real estate.
Bridge loans serve Henderson industrial properties in transition, whether that means a vacant building awaiting a new tenant, a property undergoing renovation or conversion, or a quick-close acquisition where timing is critical. Rates range from 8.50% to 11.50% with terms of 12 to 36 months and LTV up to 75%. Bridge lenders can often close within 14 to 21 days.
DSCR loans qualify borrowers based on the property's rental income rather than personal income documentation. For Henderson industrial investors who own multiple properties or have complex tax returns, DSCR loans simplify the qualification process. Rates range from 7.25% to 9.50% with up to 70% LTV. Use our DSCR calculator to evaluate your property.
What Are Henderson Industrial Lease Rates and Cap Rates in 2026?
Henderson industrial lease rates and cap rates reflect the submarket's premium positioning within the Las Vegas Valley, driven by strong tenant demand, limited available inventory, and the quality of recently constructed space.
Class A warehouse space in Henderson commands approximately $1.15 per square foot per month on a triple net basis, reflecting the newer construction vintage, higher clear heights (32 to 36 feet), modern loading configurations, and efficient building layouts that institutional tenants require. Distribution center space averages around $1.05 per square foot, while manufacturing facilities average approximately $0.95 per square foot due to their specialized configurations that limit the tenant pool.
Flex and R&D space commands the highest rates at approximately $1.25 per square foot, driven by the hybrid office-warehouse configuration that technology companies and light assembly operations require. Cold storage facilities, though limited in Henderson's inventory, achieve approximately $1.45 per square foot reflecting the specialized construction and mechanical systems required.
Cap rates for Henderson industrial properties range from 5.5% to 7.0% depending on tenant credit quality, remaining lease term, building class, and location within the market. Single-tenant properties with investment-grade tenants on long-term leases trade at the tightest cap rates of 5.5% to 6.5%, while multi-tenant properties with shorter lease terms and more management intensity trade at 6.0% to 7.5%.
These metrics compare favorably to the broader Las Vegas Valley, where industrial vacancy averages approximately 7.8% compared to Henderson's 5.2% to 6.8%. Henderson's lower vacancy, combined with its infrastructure advantages and business-friendly environment, justifies the premium positioning.
How Does the West Henderson Industrial Corridor Impact Financing?
The West Henderson industrial corridor has become the defining feature of Henderson's industrial market, and its development trajectory directly influences lender appetite and financing terms for properties throughout the city.
Haas Automation's campus spanning over 2 million square feet serves as the corridor's anchor tenant, providing the employment base and economic gravity that attracts supporting businesses and supply chain operations. The company's presence validates Henderson's viability as a major manufacturing location and gives lenders confidence in the long-term industrial demand fundamentals of the market.
The corridor has attracted approximately $3 billion in committed development investment, with projects at various stages of planning, construction, and stabilization. Henderson Commerce Center's 850,000 square feet under construction, the Apex Industrial Complex expansion, and multiple speculative warehouse developments are adding modern Class A inventory that draws national and regional tenants to the market.
For lenders, the West Henderson corridor's development momentum translates into favorable underwriting assumptions. Vacancy is projected to remain below the metro average as new supply is absorbed by the growing tenant base. Rental rate growth of approximately 4.2% year over year supports improving net operating income projections. And the corridor's infrastructure, including direct Interstate 11 access and expanding utility capacity, reduces the development risk that lenders must evaluate when financing new construction or expansion projects.
Investors financing properties within or adjacent to the West Henderson corridor can expect more competitive loan terms than comparable properties in less established industrial submarkets. Lenders recognize the corridor's institutional-quality tenant base and infrastructure advantages in their underwriting.
What Environmental Considerations Affect Henderson Industrial Lending?
Environmental due diligence is a critical component of every Henderson industrial loan transaction, and the requirements are more extensive than for other commercial property types.
Every industrial property loan in Henderson requires a Phase I Environmental Site Assessment conducted by a qualified environmental professional. This desktop and site inspection review evaluates the property's historical use, identifies potential contamination sources, and assesses the likelihood of recognized environmental conditions. Phase I reports typically cost $2,500 to $4,500 and take two to three weeks to complete.
Properties with manufacturing history, chemical storage, underground storage tanks, or proximity to known contamination sites may trigger a Phase II Environmental Site Assessment. Phase II involves soil sampling, groundwater testing, and laboratory analysis to determine whether contamination is present. Costs range from $8,000 to $25,000 depending on the scope of testing required, and the process adds three to six weeks to the loan timeline.
Lenders will not fund industrial loans without satisfactory environmental clearance. If contamination is identified, the borrower must either remediate the condition before closing, negotiate environmental insurance, or establish escrow reserves for future remediation. In some cases, contamination findings kill the transaction entirely because remediation costs exceed the property's value or because the contamination source is off-site and beyond the borrower's control.
Henderson's desert environment presents some unique environmental considerations for industrial properties. Dust control during construction and operations is regulated by Clark County's Department of Air Quality. Water use for industrial processes must comply with Southern Nevada Water Authority regulations. And the proximity of some Henderson industrial areas to residential communities requires compliance with noise, traffic, and emissions standards that can affect property operations and tenant viability.
How Do SBA 504 Loans Work for Henderson Owner-Occupied Industrial Properties?
The SBA 504 loan program is specifically designed for owner-occupied commercial real estate, making it the ideal financing tool for Henderson businesses purchasing their own warehouse, manufacturing, or distribution facilities.
The SBA 504 structure splits the financing into three components. A conventional first mortgage covers approximately 50% of the total project cost at market rates and terms. An SBA-backed second mortgage through a Certified Development Company covers approximately 40% at a below-market fixed rate for 20 to 25 years. The borrower contributes the remaining 10% as a down payment, though 15% may be required for new businesses or special-use properties.
For a Henderson business purchasing a $3 million industrial facility, the SBA 504 structure looks like this. The first mortgage would be approximately $1.5 million at a conventional rate of 6.50% for a 10 year term. The SBA second mortgage would be approximately $1.2 million at a fixed rate around 5.64% for a 25 year term. The borrower's down payment would be $300,000.
The SBA 504 program requires that the borrower occupy at least 51% of the building's rentable area for existing buildings or 60% for new construction. The remaining space can be leased to third-party tenants, providing rental income that supports the debt service. This flexibility allows Henderson businesses to acquire larger facilities than they currently need and grow into the space while generating lease income from the excess.
Eligibility requirements include operating as a for-profit business, having a tangible net worth below $20 million, and demonstrating the ability to repay the loan from business cash flow. Most Henderson industrial businesses, from manufacturers to distributors to technology companies, meet these criteria.
The key advantages of SBA 504 financing for Henderson industrial properties include the low 10% down payment, the long-term fixed rate on the SBA portion, and the ability to preserve working capital for business operations. For more on SBA lending, visit our SBA loan programs page.
What Industrial Property Types Are Most Financeable in Henderson?
Lenders evaluate Henderson industrial properties based on several factors including building configuration, tenant quality, location, and market demand for the specific property type.
Distribution and warehouse properties with standard configurations, including 24 to 36 foot clear heights, dock-high loading, adequate trailer parking, and efficient column spacing, represent the most financeable industrial property type in Henderson. These facilities serve the broadest tenant pool and command the most competitive loan terms. Vacancy for well-located Henderson warehouse properties runs consistently below the metro average.
Flex and R&D properties combining office and warehouse space attract technology, engineering, and light assembly tenants. While smaller in scale, these properties generate premium rents and attract higher-credit tenants. Lenders view flex properties favorably when office build-out does not exceed 30% to 40% of total building area, which maintains the industrial character and tenant flexibility.
Manufacturing facilities present more specialized underwriting challenges. Building features like reinforced floors, specialized power supply (480V three-phase), overhead cranes, specialized ventilation, and process piping limit the pool of replacement tenants if the current occupant vacates. Lenders may require higher debt service coverage ratios of 1.35x to 1.50x for heavily specialized manufacturing properties.
Cold storage and food processing facilities command the highest rents but require specialized knowledge to finance. The mechanical systems, temperature-controlled environments, and food safety requirements create both value and risk. Lenders with experience in cold storage financing are essential for these transactions.
Outdoor storage and yard properties, while lower in per-square-foot value, serve critical functions for construction, landscaping, and heavy equipment operations. Financing is available but typically at lower leverage of 60% to 65% LTV due to the limited improvement value.
How Do Single-Tenant and Multi-Tenant Industrial Properties Compare for Financing?
The choice between single-tenant and multi-tenant industrial investments significantly impacts financing options, terms, and risk profile for Henderson properties.
Single-tenant industrial properties leased to creditworthy tenants on long-term leases represent the simplest underwriting scenario for Henderson industrial lenders. The tenant's financial strength, often evaluated through credit ratings or audited financial statements, serves as the primary repayment source. A 100,000 square foot Henderson warehouse leased to a publicly traded distribution company on a 10 year triple net lease will attract the most competitive financing terms, with rates at the lower end of the conventional range and LTV at the maximum allowed.
The risk with single-tenant industrial is binary. As long as the tenant performs, the investment generates predictable cash flow. But if the tenant vacates at lease expiration or defaults, the property goes from fully occupied to 100% vacant overnight. Lenders account for this risk by evaluating remaining lease term carefully. Properties with fewer than three years remaining on the lease may face reduced proceeds, higher rates, or lender requirements for escrow reserves.
Multi-tenant industrial properties distribute risk across multiple income streams, reducing the impact of any single tenant loss. A Henderson industrial building with eight tenants, each occupying 5,000 to 15,000 square feet, generates more stable income than a single-tenant building of equivalent size because losing one tenant reduces income by only 10% to 15% rather than 100%.
The trade-off is higher management intensity, more frequent tenant improvement costs, and rolling lease expirations that create ongoing re-leasing risk. Multi-tenant properties also require more active property management and tend to carry higher operating expenses on a per-square-foot basis.
Both property types finance well in Henderson given the market's strong fundamentals. The optimal choice depends on the investor's management capacity, risk tolerance, and return objectives.
What Is the Industrial Investment Outlook for Henderson?
Henderson's industrial market is positioned for continued growth driven by structural demand factors that extend well beyond the current economic cycle.
The Interstate 11 corridor, connecting Las Vegas to Phoenix and eventually extending to Northern Nevada, is creating a logistics spine that positions Henderson as a regional distribution node. As the highway network expands, Henderson's geographic advantage for Southwest distribution operations will strengthen, drawing additional logistics tenants and supporting rent growth.
Nevada's tax advantages continue to attract California businesses relocating industrial operations. The cost savings from eliminating state income tax, combined with lower wages, less regulation, and cheaper industrial space, create a compelling relocation case that shows no signs of slowing.
The construction pipeline for new Henderson industrial space is moderating as rising construction costs and higher interest rates on construction loans slow new project starts. This supply constraint, combined with sustained tenant demand, is projected to tighten vacancy rates and support rent growth of 3% to 5% annually through 2027.
Cap rate compression may continue for well-located Henderson industrial assets as institutional investors increase their allocation to industrial real estate nationally. Henderson's combination of yield premium over coastal markets and strong growth fundamentals positions it as an attractive target for investors seeking industrial exposure in the Western United States.
Use our commercial mortgage calculator to model financing scenarios for your Henderson industrial property investment.
Frequently Asked Questions About Industrial Loans in Henderson
What is the minimum loan size for a Henderson industrial property?
Most commercial lenders set minimum loan amounts at $500,000 to $1 million for industrial properties. SBA 504 loans can start as low as $125,000 for the SBA portion, though total project costs typically start around $500,000 for viable industrial facilities. For smaller industrial condominiums or flex units in Henderson, local bank and credit union portfolio loans may be the best option.
How long does it take to close an industrial loan in Henderson?
Conventional commercial industrial loans typically close in 45 to 60 days from application. SBA 504 loans take 60 to 90 days due to the dual approval process through both the conventional lender and the Certified Development Company. Bridge loans can close in 14 to 21 days for borrowers with complete documentation. Environmental due diligence is often the longest timeline component for industrial loans.
Do I need a Phase I environmental report for every industrial property loan?
Yes. All commercial lenders require a Phase I Environmental Site Assessment for industrial property loans. This is a non-negotiable requirement regardless of the property's age, condition, or prior use. The cost ranges from $2,500 to $4,500 and the process takes two to three weeks. Properties with manufacturing history or chemical storage may also require a Phase II assessment.
Can I finance a Henderson industrial property with tenants on month-to-month leases?
Properties with month-to-month tenants can be financed, but the terms will reflect the additional risk. Lenders prefer tenants with three or more years remaining on their leases. Properties with predominantly month-to-month tenants may receive lower LTV offers of 60% to 65%, higher interest rates, and requirements for debt service escrow reserves. Converting tenants to longer-term leases before seeking financing typically improves terms significantly.
What are typical closing costs for a Henderson industrial loan?
Closing costs for Henderson industrial loans range from 2% to 4% of the loan amount. This includes origination fees (0.5% to 2.0%), commercial appraisal ($4,000 to $8,000), Phase I ESA ($2,500 to $4,500), property condition report ($3,000 to $6,000), ALTA survey ($3,000 to $5,000 for larger sites), title insurance, legal fees ($5,000 to $12,000), and Clark County recording fees. SBA 504 loans include additional CDC fees of approximately 1.0% to 1.5%.
Is Henderson's industrial market overbuilt?
Henderson's industrial market is not overbuilt. While new construction has added approximately 2 million square feet of inventory in the past two years, absorption has kept pace at approximately 1.8 million square feet in the trailing 12 months. Vacancy at 5.2% to 6.8% remains below the Las Vegas metro average of 7.8%. The construction pipeline is moderating as development costs increase, which should further tighten market conditions through 2027.
Contact Clearhouse Lending to discuss industrial financing options for your Henderson property and receive a customized rate quote tailored to your investment strategy.