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Sahara Towne Square 2550 S Maryland Pky 93,420 SF 85% Leased Retail Building Las Vegas, NV 89109 $25,132,244 ($269.02/SF) 6.30% Cap Rate
EXECUTIVE SUMMARY
Ram Group, LLC and Moore Real Estate Sales, Inc. are pleased to present for acquisition Sahara Towne Square, a ±93,420-SF retail center shadow anchored by Smith’s Food & Drug, a subsidiary of The Kroger Company (NYSE: KR). This offering includes 93,420 SF of shop space and all five (5) retail pad buildings, which are currently leased and occupied by Chase Bank, Jack in the Box, Taco Bell, Carlito’s Cuban Restaurant (prior Chili’s), and Kinnara Thai Restaurant.
The center is dominant in its trade area and is currently 85% leased to a complementary mix of local and regional and national occupiers servicing a dense populous (1 mile: 24,570; 3 mile: 178,583; 5 mile: 500,906). Note that Smith’s is the closest full-service grocery store to Las Vegas Boulevard, thus services the Strip in addition to the surrounding neighborhoods. Notably, this center has been owned by the same group since 1991 - 34 years. This truly is a rare acquisition opportunity.
Although Smith’s owns its parcel/building, it contributes to CAM and is processing the construction of its fuel station on-site within the next year. Ownership has a Right of First Refusal (ROFR) to acquire Smith’s property should it decide to sell to a non-grocer.
The center is dominant in its trade area and is currently 85% leased to a complementary mix of local and regional and national occupiers servicing a dense populous (1 mile: 24,570; 3 mile: 178,583; 5 mile: 500,906). Note that Smith’s is the closest full-service grocery store to Las Vegas Boulevard, thus services the Strip in addition to the surrounding neighborhoods. Notably, this center has been owned by the same group since 1991 - 34 years. This truly is a rare acquisition opportunity.
Although Smith’s owns its parcel/building, it contributes to CAM and is processing the construction of its fuel station on-site within the next year. Ownership has a Right of First Refusal (ROFR) to acquire Smith’s property should it decide to sell to a non-grocer.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
93,420 SF
Building Class
B
Year Built
1987
Price
$25,132,244
Price Per SF
$269.02
Cap Rate
6.30%
NOI
$1,583,331
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.21
Lot Size
10.06 AC
Opportunity Zone
Yes
Zoning
CG, C-1 - Commecial General, Limited Commercial District, Opportunity Zone
Parking
382 Spaces (4.09 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Former Church, Congregation. LL is highly motivated to lease space.
Lease terms are negotiable.
This is a former tax/accounting office.
| Space | Size | Space Use | Position | Available |
| 2650 A-3 | 3,200 SF | Retail | - | Now |
| 2650-A-3A | 2,700 SF | Retail | In-Line | Now |
| A-4 | 1,786 SF | Retail | - | Now |
2650 A-3
| Size |
| 3,200 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2650-A-3A
| Size |
| 2,700 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
A-4
| Size |
| 1,786 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2650 A-3
| Size | 3,200 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Former Church, Congregation. LL is highly motivated to lease space.
2650-A-3A
| Size | 2,700 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Lease terms are negotiable.
A-4
| Size | 1,786 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
This is a former tax/accounting office.
Walk Score®
Very Walkable (84)
ABOUT EAST CENTRAL LAS VEGAS
East Central Las Vegas sees hotels, resorts, and multifamily residences mixed in with office and retail properties. The East Central Las Vegas retail area runs east from the Las Vegas Strip and stretches from Downtown Las Vegas to McCarran International Airport. Also located in the area are the Las Vegas Convention Center and the University of Nevada, Las Vegas (UNLV).
Retailers are clustered along the primary arterial roads and around the convention center and UNLV. Neighborhood shopping centers and business that cater to locals like grocery stores, drug stores, and discount retailers make up the majority of local retailers. Arts, entertainment, and restaurants are situated near Las Vegas Boulevard, looking to draw visitors from hotels and resorts along the Strip. Entertainment and hospitality both provide jobs for residents in the area and visitor traffic to retail shops.
Las Vegas’ healthy population growth and strong visitor numbers, along with limited new supply in East Central Las Vegas, are drawing investor interest. Pricing is generally at a discount to Las Vegas’ average, and cap rates are slightly above the region’s overall average.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
24,943
178,618
514,826
856,429
2029 Population
26,851
192,297
552,678
929,908
2024-2029 Projected Population Growth
7.7%
7.7%
7.4%
8.6%
Median Age
40.1
38.9
36.8
37.3
College Degree + Higher
18%
15%
12%
10%
Daytime Employees
12,695
227,143
392,760
492,027
Total Businesses
1,880
17,396
31,381
45,425
Average Household Income
$62,082
$55,878
$57,308
$73,426
Median Household Income
$38,615
$36,486
$40,036
$55,173
Total Consumer Spending
$242.4M
$1.7B
$4.6B
$8.1B
2024 Households
10,050
76,755
193,901
312,855
Average Home Value
$372,323
$344,866
$308,015
$372,359
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Carlitos Cuban Food & Cafeteria | Cuban | $ | 3 min walk |
| Kinnara Thai | - | - | 3 min walk |
| Jack In The Box | - | - | 3 min walk |
| Taco Bell | Fast Food | - | 2 min walk |
| Ito'y Sariling Atin Fast Food | Asian | $$$ | In Building |
| Tacos Los Toritos | Mexican | $ | In Building |
| Domino’s | - | - | In Building |
| Kelly Kitchen | American | - | In Building |
| Island Grill | - | - | In Building |
| Dairy Queen | - | - | 4 min walk |
RETAIL |
||
|---|---|---|
| Smith's | Supermarket | 2 min walk |
| Metro By T-mobile | Wireless Communications | 3 min walk |
| Chase Bank | Bank | 4 min walk |
| MetroPCS | Wireless Communications | 3 min walk |
| Supercuts | Salon/Barber/Spa | In Building |
| Speedy Cash | Check Cash/Quick Loans | 5 min walk |
| Bodyheat Tanning | Tanning Salon | 6 min walk |
| Planet Fitness | Fitness | 6 min walk |
| EZ Pawn | Pawn Shop | 6 min walk |
| 7-Eleven | Convenience Market | 6 min walk |
HOTELS |
|
|---|---|
| MainStay Suites |
124 rooms
3 min drive
|
| Hilton Grand Vacations |
214 rooms
4 min drive
|
| Westgate |
2,950 rooms
5 min drive
|
| OYO |
27 rooms
5 min drive
|
| Hilton Grand Vacations |
1,200 rooms
5 min drive
|
| Home2 Suites by Hilton |
100 rooms
5 min drive
|
| Hampton by Hilton |
150 rooms
5 min drive
|
| Tribute Portfolio |
74 rooms
6 min drive
|
| SpringHill Suites |
300 rooms
6 min drive
|
| Residence Inn |
192 rooms
6 min drive
|
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,064,308 | |
| Land Assessment | $1,875,140 | Total Assessment | $4,939,448 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,875,140
Improvements Assessment
$3,064,308
Total Assessment
$4,939,448
SALE ADVISORS
SALE ADVISORS
Tanner Susa,
Broker Salesperson
With a decade of experience in the commercial real estate industry, Tanner Susa has been exposed to myriad aspects of commercial real estate from a young age. As a Broker-Salesperson, Tanner’s clients are his top priority. He is involved in Real Estate Asset Management’s leasing, sales, and management equaling multi-million dollars worth of transactions as well as in tenant representation for all types of commercial real estate. As the Director of Marketing for RAM, Tanner is dedicated to leading the company into the digital age with intuitive marketing.
A retail specialist licensed in the state of Nevada and California, Tanner holds a Nevada property management permit and has extensive knowledge of a variety of real estate subjects. He is a graduate of Chapman University with a B.A. in Communications and a minor in History.
Away from the office, Tanner enjoys all forms of physical activity, traveling, being outdoors, reading, and charity work.
A retail specialist licensed in the state of Nevada and California, Tanner holds a Nevada property management permit and has extensive knowledge of a variety of real estate subjects. He is a graduate of Chapman University with a B.A. in Communications and a minor in History.
Away from the office, Tanner enjoys all forms of physical activity, traveling, being outdoors, reading, and charity work.
Jeff Susa, Managing Member
A real estate expert for over 42 years, Jeff Susa began his real estate career in 1979. Just two years later, in 1981, he became one of the youngest brokers to hold a license in the state of California. He began syndicating properties to acquire apartments and small commercial properties in the San Fernando Valley and naturally expanded into building larger shopping centers and multi-story office buildings in addition to his work in syndication. In 1986, Jeff made the move to Las Vegas where he continued to expand his career and hone his expertise, focusing on syndicating, building properties and undertaking larger scale projects, including shopping centers, mini-storage facilities, apartments, single-family homes and office buildings. A visionary in his field, Jeff has also participated in the design of several award-winning properties. Jeff is experienced in all aspects of commercial development, from the negotiations and acquisitions of land purchases to the construction and completion of a final product. Utilizing his extensive management knowledge, Jeff has supervised the development and management of more than $1.2 billion dollars’ worth of retail, office, residential and multi-family space in Nevada and California. The hallmark of an expert businessman committed to displaying the highest level of integrity, Jeff focuses on long-term investor relationships, the result of which has led to his involvement in numerous multi-million-dollar transactions. In his spare time, Jeff enjoys spending time with his wife and two grown children as well as traveling, flying and golfing. Giving back to his community has always been a primary focus for Jeff, who also served as the Co-chairman of the National Kidney Foundation golf tournament for numerous years.
Charles Moore, Broker / Owner Moore Real Estate Sales Inc
Charles M. Moore, CSM has been in the commercial real estate arena for more than thirty (35) years and after lengthy careers at Macerich, CBRE and Cushman & Wakefield, started brokerage firm Moore Real Estate Sales Inc. in January, 2023. Having been involved in more than $4 billion worth of investment properties transactions in Nevada, and having lived in both Reno in the late 80's and Las Vegas since 1995, Charles is uniquely positioned to assist valued clients with their commercial real estate needs.
CONTACTS
-
Tanner
Susa
-
Jeff
Susa
-
Moore Real Estate Sales Inc Charles Moore -
Real Estate Asset Management
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Sahara Towne Square | 2550 S Maryland Pky
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