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1636-1638 E Charleston Blvd 1,989 SF 50% Leased Retail Building Las Vegas, NV 89104 $698,000 ($350.93/SF) 6.55% Cap Rate
INVESTMENT HIGHLIGHTS
- Bill Board Passive income
EXECUTIVE SUMMARY
Property has a billboard that pays an average of $5000 a year in passive income.
Owner operates a hair salon in 1200 SF of the property and leases out the remaining 1000 sf (1638 E Charleston) for $1650 a month (increases to $1800 for last two years of lease Starting December 2025).
After the sale you could rent out the additional 989 SF for an additional $21,000 a year. Total income would then be $46,000 a year. Less expenses of $6187, and adding billboard, total income would be $41,413.
Owner operates a hair salon in 1200 SF of the property and leases out the remaining 1000 sf (1638 E Charleston) for $1650 a month (increases to $1800 for last two years of lease Starting December 2025).
After the sale you could rent out the additional 989 SF for an additional $21,000 a year. Total income would then be $46,000 a year. Less expenses of $6187, and adding billboard, total income would be $41,413.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$43,200
|
$21.72
|
| Other Income |
$8,700
|
$4.37
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$51,900
|
$26.09
|
| Taxes |
$1,495
|
$0.75
|
| Operating Expenses |
$4,692
|
$2.36
|
| Total Expenses |
$6,187
|
$3.11
|
| Net Operating Income |
$45,713
|
$22.98
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $43,200 |
| Annual Per SF | $21.72 |
| Other Income | |
|---|---|
| Annual | $8,700 |
| Annual Per SF | $4.37 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $51,900 |
| Annual Per SF | $26.09 |
| Taxes | |
|---|---|
| Annual | $1,495 |
| Annual Per SF | $0.75 |
| Operating Expenses | |
|---|---|
| Annual | $4,692 |
| Annual Per SF | $2.36 |
| Total Expenses | |
|---|---|
| Annual | $6,187 |
| Annual Per SF | $3.11 |
| Net Operating Income | |
|---|---|
| Annual | $45,713 |
| Annual Per SF | $22.98 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
REO Sale
Property Type
Retail
Property Subtype
Building Size
1,989 SF
Building Class
C
Year Built
1952
Price
$698,000
Price Per SF
$350.93
Cap Rate
6.55%
NOI
$45,713
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
C-1, Las Vegas - C1, 2 units and a bill board, private gated yard in front and on East side of building.
Parking
10 Spaces (5.03 Spaces per 1,000 SF Leased)
Frontage
54’ on Charleston Blvd
AMENITIES
- Bus Line
- Courtyard
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- lay's community coop
- Retailer
- 1,000 SF
- $19.80
- Single Net
- Jan 2028
- On Hair Design
- Services
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| lay's community coop | Retailer | 1,000 SF | $19.80 | Single Net | Jan 2028 | |
| On Hair Design | Services | - | - | - | - |
Walk Score®
Walker's Paradise (90)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 162-02-113-005 | Total Assessment | $45,985 |
| Land Assessment | $19,439 | Annual Taxes | $1,495 ($0.75/SF) |
| Improvements Assessment | $26,546 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
162-02-113-005
Land Assessment
$19,439
Improvements Assessment
$26,546
Total Assessment
$45,985
Annual Taxes
$1,495 ($0.75/SF)
Tax Year
2025 Payable 2025
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1636-1638 E Charleston Blvd
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