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3013 W Sahara Ave 3,000 SF Retail Building Las Vegas, NV 89102 $1,600,000 ($533.33/SF) 6.28% Cap Rate
INVESTMENT HIGHLIGHTS
- Situated only +/-1.5 miles west of the Las Vegas Strip, which attracts 42 million annual visitors
- Strategically positioned on one of the busiest thoroughfares in the Las Vegas Valley
- Opportunity to acquire an additional adjacent building with an NOI of $122,987 bringing the combined NOI for both properties to $223,387
- Sahara Avenue boasting an impressive daily traffic count exceeding 50,000 vehicles
EXECUTIVE SUMMARY
LOGIC Commercial Real Estate presents the opportunity to purchase the fee simple interest in 3013 W. Sahara Avenue, a single-tenant, net-leased freestanding retail building located at the signalized intersection of Sahara Avenue and Richfield Boulevard, just minutes from the Las Vegas Strip. The property is approximately 1.5 miles from the world-famous Las Vegas Strip, which attracts 42 million annual visitors, and is a 15-minute drive from Harry Reid International Airport.
Current Lease Status
Brand new 10 year Lease - Expires 9/30/2036
Current annual rent of $100,440
Scheduled rent escalation to $104,400 on October 1, 2031
Lease expiration date of September 30, 2036
Personally guaranteed by operator who owns wholesale vape distribution facility
Option Period Structure
Two (2) five-year option periods with 10% escalations every 5 years
Flexibility for owner-user occupancy at initial term expiration
Current Lease Status
Brand new 10 year Lease - Expires 9/30/2036
Current annual rent of $100,440
Scheduled rent escalation to $104,400 on October 1, 2031
Lease expiration date of September 30, 2036
Personally guaranteed by operator who owns wholesale vape distribution facility
Option Period Structure
Two (2) five-year option periods with 10% escalations every 5 years
Flexibility for owner-user occupancy at initial term expiration
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,000 SF
Building Class
B
Year Built/Renovated
1962/2016
Price
$1,600,000
Price Per SF
$533.33
Cap Rate
6.28%
NOI
$100,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.36
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
C-1, Las Vegas
Parking
6 Spaces (2.09 Spaces per 1,000 SF Leased)
Frontage
62’ on W. Sahara
AMENITIES
- Bus Line
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 162-08-104-008 | Improvements Assessment | $45,225 |
| Land Assessment | $58,280 | Total Assessment | $103,505 |
PROPERTY TAXES
Parcel Number
162-08-104-008
Land Assessment
$58,280
Improvements Assessment
$45,225
Total Assessment
$103,505
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3013 W Sahara Ave
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