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Sahara Eastern Plaza 2520 S Eastern Ave 8,719 SF 100% Leased Retail Building Las Vegas, NV 89169 $3,650,000 ($418.63/SF) 6% Cap Rate
Investment Highlights
- Highly Trafficked Prime, Signalized, Hard-Corner Location Featuring 77,500+ Vehicles Per Day
- Strong Infill Las Vegas Retail Corridor Surrounded by Multiple Regional and National Retailers
- Tremendous Population Density with 206,655 Residents in the 3-Mile Radius and Daytime Population of 293,486
- Eight Daily Needs Restaurant, Grocery & Service Oriented Tenants Including Subway and Total Wireless (Verizon)
- Close Proximity to the Las Vegas Strip, Downtown Las Vegas, Valley High School, Sunrise Hospital and UNLV
- Durable Rent Roll: Long Term Tenancy with All Except Two of the Tenants Having Occupied for 15+ Years
Executive Summary
Marcus & Millichap is pleased to exclusively present an excellent opportunity to acquire a quintessential infill Las Vegas retail strip center with traffic counts exceeding 77,500 vehicles per day and surrounded by an extremely dense residential population. Built in 1991, the premises are situated upon a .61 acre parcel of land.
Sahara Eastern Plaza has maintained full occupancy with historically long-standing tenants, with the majority having occupied for 15+ years. The neighborhood-serving strip center features eight daily needs and service-oriented tenants, including a corporate Subway Restaurant that has occupied since 2001, a recently leased Total Wireless (Verizon), L.A. Insurance, who has occupied since 1996, a grocery market and several popular restaurants appealing to the surrounding community.
Lease structures are all NNN and full expense recovery includes the opportunity to maintain various capital expense items. Additionally, the majority of the leases provide for annual rental escalations which help ensure optimal balancing against inflation.
Improvements made over the past several years include a new pylon sign as well as a newly surfaced parking lot. A future owner may decide to have a billboard installed onsite as existed previously and was leased to an outdoor sign company. Property is being sold as-is.
SURROUNDING AMENITIES & ECONOMIC DRIVERS
Close proximity to the Las Vegas Strip, Interstate 11, Valley High School, UNLV, the Harry Reid International Airport, Sunrise Hospital, and much more.
LOCATION AND ACCESSIBILITY
At one of the most highly trafficked corners in the Las Vegas Valley, Sahara Eastern Plaza enjoys the hard, signalized location combined with a heightened ease of access that includes curb cuts on both major streets.
The retail center features a desirable parking ratio of 5.05 spaces per 1,000 square feet.
Property Facts
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- Finance and Insurance
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L.A. Insurance began in Michigan in 1992 as an independent insurance agency focused on affordable coverage. The company offers auto, homeowners, renters, motorcycle, recreational vehicle, boat and watercraft, commercial auto, and life insurance, and the business says its independent-agent model gives access to multiple carriers. L.A. Insurance describes service across the United States through a broad network of agency locations in multiple states. The company also promotes franchise opportunities and emphasizes low down payments and personalized policy matching.
- Los Antojos Mexicanos
- Retailer
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- Mi Casa Envios
- Finance and Insurance
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- Restaurant & Cupuseria Cabana
- Accommodation and Food Services
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- Sinaloa Beauty Salon
- Services
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- Accommodation and Food Services
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Subway began in 1965 when Fred DeLuca and Peter Buck opened Pete's Super Submarines in Bridgeport, Connecticut, and the business later adopted the Subway name as it expanded. The company grew by franchising in the 1970s and built a restaurant model centered on freshly made, convenient sandwiches served at value-focused prices. Subway now operates as a global restaurant franchise with a network of franchisees serving made-to-order sandwiches and related menu items such as salads, cookies, soft drinks, and selected pizzas at certain locations. Subway ranks among the world's largest single-brand restaurant chains, with a wide international footprint and a continued focus on franchise-based growth.
- Tienda Salvadorena Ilobasco
- Retailer
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- Total Wireless (Verizon)
- Retailer
- 838 SF
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- Triple Net
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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|
Finance and Insurance | - | - | - | - | |
| Los Antojos Mexicanos | Retailer | - | - | - | - | |
| Mi Casa Envios | Finance and Insurance | - | - | - | - | |
| Restaurant & Cupuseria Cabana | Accommodation and Food Services | - | - | - | - | |
| Sinaloa Beauty Salon | Services | - | - | - | - | |
|
|
Accommodation and Food Services | - | - | - | - | |
| Tienda Salvadorena Ilobasco | Retailer | - | - | - | - | |
| Total Wireless (Verizon) | Retailer | 838 SF | - | Triple Net | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 162-12-101-001 | Improvements Assessment | $195,106 |
| Land Assessment | $213,905 | Total Assessment | $409,011 |
Property Taxes
Contact the Sale Advisor
Sahara Eastern Plaza | 2520 S Eastern Ave