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Shepherd Eye Center 3575 Pecos Mcleod Rd 16,209 SF Office Building Las Vegas, NV 89121 $8,525,000 ($525.94/SF) 6.23% Cap Rate
INVESTMENT HIGHLIGHTS
- 12 YEAR LEASE RENEWAL EXPIRES MAY 2036
- HIGHEST VOLUME SURGERY CENTER IN THE STATE
- ATTRACTIVE RENT GROWTH OF 3.0% ANNUALLY
- HIGH GROWTH TENANT WITH STRONG REGIONAL PRESENCE
- CONTINUOUS DEMAND FOR OPHTHALMOLOGY SERVICES AMONG AGING POPULATION
- 2024 RENOVATIONS INCLUDE ROOF REPLACEMENT AND INTERIOR REFRESH
EXECUTIVE SUMMARY
Highest Volume Surgery Center in Nevada | 12 YR Lease Extension | Strong Regional Credit
The subject property is a 16,209 SF Shepherd Eye surgery center and ophthalmology clinic. Shepherd Eye signed a 12-year, NN lease renewal which commenced on June 1, 2024 and expires May 31, 2036 with two five-year options to extend. The lease calls for favorable increases of 3.0% annually.
For more than 50 years now, Shepherd Eye has been operating at the forefront of eye care with its primary focus being to improve the quality of life for its patients. Shepherd Eye is a nationally renowned eye care and eye surgery group with a team of over 200 professionals and continues to demonstrate compelling growth, with recent double digit increases in patient base, revenues, and earnings.
The subject property is a 16,209 SF Shepherd Eye surgery center and ophthalmology clinic. Shepherd Eye signed a 12-year, NN lease renewal which commenced on June 1, 2024 and expires May 31, 2036 with two five-year options to extend. The lease calls for favorable increases of 3.0% annually.
For more than 50 years now, Shepherd Eye has been operating at the forefront of eye care with its primary focus being to improve the quality of life for its patients. Shepherd Eye is a nationally renowned eye care and eye surgery group with a team of over 200 professionals and continues to demonstrate compelling growth, with recent double digit increases in patient base, revenues, and earnings.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
16,209 SF
Building Class
B
Year Built
1989
Price
$8,525,000
Price Per SF
$525.94
Cap Rate
6.23%
NOI
$530,735
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
14,209 SF
Building FAR
0.12
Lot Size
3.04 AC
Zoning
C-P, County
Parking
122 Spaces (7.53 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Signage
- Wheelchair Accessible
- Outdoor Seating
- Air Conditioning
- Balcony
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $777,292 | |
| Land Assessment | $431,010 | Total Assessment | $1,208,302 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$431,010
Improvements Assessment
$777,292
Total Assessment
$1,208,302
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Shepherd Eye Center | 3575 Pecos Mcleod Rd
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