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Browse More Listings in Retail For Sale, Las Vegas, NV or Nevada

Retail Property For Sale

Sonic

5050 East Russell Road, Las Vegas, NV 89122

Price:
$5,500,000
Building Size:
24,034 SF
Price/SF:
$228.84
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Office Showroom
Office-R&D
Special Purpose (Other)
Property Use Type:
Net Lease Investment with 5 years left on lease
Cap Rate:
7.82%
Occupancy:
100%
No. Stories:
2
Tenancy:
Single
Year Built:
1998
Lot Size:
2.11 AC
Tax ID / APN #:
161-28-401-011
Find Out More...

Last Verified 11/2/2009 Listing ID 15630259

Highlights

Single tenant - NNN lease
Sonic Automotive is a credit tenant and Fortune 300 Company
Excess land

1998 construction
Corporate guarantee from parent company with net worth of 903 million
NEXT CPI INCREASE IN NOVEMBER 2009 - PROJECTED CAP RATE OF 6.9%

Description

5050 E. Russell Road is a 24,034 square foot commercial building originally constructed in 1998 as a build-to-suit for an automotive dealership for Sonic Automotive. The building consists of an excellent quality two-story office and warehouse facility. The first floor has approximately 15,403 square feet which includes both office and warehouse/service area. The 2nd floor includes approximately 4400 Sq. Ft. of finished office space and 4400 square feet of oopen mexxanine. Sonic Automotive which is a Fortune 300 company had an original lease term of 15 years which shall expire November 2014. In addition to the Sonic lease there are two billboards that are leased to Martin Media. Sub-tenant would consider vacating property-opportunity for owner user buyer.

Great location and freeway visibility with 650 feet of lineal direct frontage on Russell Road. This is a corner location at the northeast corner of Nellis Boulevard and Russell Road.

Financial Summary

Major Tenant Information

Actual
Year
2009
Scheduled Gross Income
$400,067
Net Operating Income
$400,067
Pre-Tax Cash Flow
$400,067

Tenant	SF Occupied	Lease Expired
Sonic Automotive/Southwest Ironworks	24,034	11/1/2014
Lamar Sign ( two billboards)		11/1/2013

Map of 5050 East Russell Road, Las Vegas, NV 89122 (Clark County)

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Presented by

Marcus & Millichap

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Contact Listing Broker

Katherine Bergh (818) 212-2747

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Created 3/25/2008

Additional Information for 5050 E Russell Road, Las Vegas, NV 89122

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Retail Property For Sale - Sonic

5050 East Russell Road, Las Vegas, NV, 89122