This Office Property is Off-Market.

1620 E. Sahara Avenue
Las Vegas, NV 89104 ·

1,978 SF · Office For Sale

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1620 East Sahara

Price N/A No. Stories 1
Building Size 1,978 SF Building Class B
Property Type Office Tenancy Single
Property Sub-type Office Building Year Built 1956
Property Use Type Investment Lot Size 0.17 SF
Commission Split 3% APN / Parcel ID 162-02-411-029
Cap Rate 11.60% Parking Ratio 99 / 1,000 SF
Occupancy 100%
Listing ID: 17706353 Date Created: 06/14/2012 Last Updated: 01/25/2013

Description

Single-tenant +/-1,978sf office property on +/-0.17ac located on East Sahara office corridor with existing MTM tenant that could potentially be vacated if purchaser desires to use as owner/user. Property contains multiple oversize private offices, reception area, kitchen, and restrooms with well-maintained and attractive interior finishes. Property is being sold by Receiver on as-is basis to maximize opportunity for future purchaser who may elect to execute new lease with existing tenant that has expressed long term desire to stay at property or vacate and either retenant or utilize as owner/user. Due to limited information available to Receiver on property, purchaser shall be expected to verify all elements of property and parcel during its due diligence period. 3% Co-op fee available to co-brokers.

The subject property is a single tenant office building that was constructed in 1956 and is located on East Sahara Avenue between Maryland Parkway and Eastern Avenue. Neighboring uses include other commercial properties which are currently being utilized as office, medical office, tavern, etc. The building is currently occupied by a real estate company run independently by Tony Melogno of 24 Hour Real Estate. The specific history of the building is not known but it is believed this was originally constructed as a single family residential property and was subsequently converted to commercial use, something not uncommon for residential structures located on major roads in Las Vegas.

Highlights

  • Receiver controlled property being sold on as-is basis at market pricing
  • High-visibility location with an average of 47,000 cars passing the site per day
  • Low cost of entry for opportunity to own either small investment property or owner/user office property
  • Property may qualify for SBA 7(a) or 504 financing which provides purchasers up to 90% LTV and low fixed rates
  • Onsite signage to provide further identity for tenant occupying property
  • Availability of onsite parking at the front and rear of the building

Research

1620 E. Sahara Avenue, Las Vegas, NV 89104 (Clark County)

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