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The Runway 3231 N Decatur Blvd 142,731 SF 96% Leased Retail Building Las Vegas, NV 89130 $18,761,000 ($131.44/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Mixed-Use Retail & Industrial Strip Center – Leased to a synergistic line up of retail, service, entertainment, fitness, medical and QSR tenants
- Significant NOI Growth – Property-wide, rents at The Runway are estimated to be 13% below market
- Strong Historical Occupancy with Recent Leasing Momentum – 60% of the in-place tenancy at The Runway has operated at the site for 10 years or more
- Desirable Las Vegas Location – Quality retail and industrial investment property located in a dense, infill location
EXECUTIVE SUMMARY
* Strong Historical Occupancy with Recent Leasing Momentum – 60% of the in-place tenancy at The Runway has operated at the site for 10 years or more with Gerber Automotive, Allstate, and Nevada Career Institute approaching 15 years, proving the strength of the location and loyalty of the current occupants
* Significant NOI Growth – Property-wide, rents at The Runway are estimated to be 13% below market. Upon stabilization through the lease up of vacant space, NOI is projected to increase $633,000 (48%) over the anticipated 10-year hold period
* Desirable Las Vegas Location – Quality retail and industrial investment property located in a dense, infill location with more than 183,200 residents (AHI: $87,800) within 3 miles. Furthermore, the Runway is situated just off the northwest corner of W Cheyenne Ave (±33,572 CPD) & N Decatur Rd (±29,766 CPD) placing it in a prime location to take advantage of the growth the Las Vegas area has seen over the recent years
PROPERTY FACTS
AMENITIES
- Bus Line
- Property Manager on Site
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Educational Services
- -
- -
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Lorem Ipsum
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Jan 0000
Nevada Career Institute is committed to helping students learn the skills they need to begin successful new careers, and has been providing affordable job-focused career training in the Las Vegas area since 1993. At Nevada Career Institute you can learn the office and business skills you need to get ahead in today’s business world or you can learn the medical skills and knowledge to begin or advance your career in the health care industry. Our affordable short-term training programs are designed to provide you with the practical job skills and education you need to succeed.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Educational Services | - | - | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
This turn-key suite features a large open lobby, a medium sized class room, a large computer center with raised floor and separately cooled server room, a lab area, storage and one restroom.
| Space | Size | Space Use | Position | Available |
| 231 | 3,330 SF | Office | - | Now |
231
| Size |
| 3,330 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
231
| Size | 3,330 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
This turn-key suite features a large open lobby, a medium sized class room, a large computer center with raised floor and separately cooled server room, a lab area, storage and one restroom.
PROPERTY TAXES
| Parcel Number | 138-12-813-001 | Improvements Assessment | $3,723,735 |
| Land Assessment | $1,168,282 | Total Assessment | $4,892,017 |
PROPERTY TAXES
Presented by
The Runway | 3231 N Decatur Blvd
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