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Desert Oaks Plaza Outparcel 3930 W Craig Rd 7,619 SF 100% Leased Retail Building North Las Vegas, NV 89032 $4,200,000 ($551.25/SF) 7.02% Cap Rate
Investment Highlights
- Stabilized Multi-Tenant Retail Building with Drive-Through
- Rare Restricted Use Entitlement
- Combined Traffic Counts in Excess of ±76,850 VPD
- Benefits from Ease of Management
- Located within Desert Oaks Plaza – a Prime Neighborhood Retail Center
- Over 250 feet of frontage on W. Craig Rd
Executive Summary
Colliers is pleased to exclusively offer for sale a two-tenant retail pad with drive-thru located within Desert Oaks Plaza, a ±53,324 SF neighborhood retail center located in North Las Vegas, NV. This freestanding retail pad is 100% leased to RISE Dispensary (OTCQX: GTBIF | CSE: GTII) and RejuveN8 Wellness Chiropractic Center.
The asset is well positioned within the dense and rapidly expanding Craig Road Corridor in North Las Vegas, Nevada, with over 250 feet of frontage along W. Craig Rd. (±44,500 VPD) just east of N Decatur Blvd. (±25,600 VPD). The asset benefits from nearby co-tenancy including national retailers such as Walmart, Home Depot, Smith’s, ALDI, Chick-fil-A, Starbucks, and more. Hylo Park, a large scale mixed-use redevelopment, is currently under construction 2-miles south of the property and is expected to bring over 925 permanent jobs and will include a 150-room hotel, 665 housing units and a 100K SF Vegas Golden Knights youth and recreational hockey facility.
Desert Oaks Plaza services a dense and underserved trade consisting of ±424,412 residents with an average household income of $99,607 within a 5-mile radius and benefits from proximity to Nellis Air Force Base (±12,000 military/ civilian personnel) and the Cannery Hotel & Casino (±800 employees) with a nearby daytime population exceeding ±369,276 residents.
The asset is well positioned within the dense and rapidly expanding Craig Road Corridor in North Las Vegas, Nevada, with over 250 feet of frontage along W. Craig Rd. (±44,500 VPD) just east of N Decatur Blvd. (±25,600 VPD). The asset benefits from nearby co-tenancy including national retailers such as Walmart, Home Depot, Smith’s, ALDI, Chick-fil-A, Starbucks, and more. Hylo Park, a large scale mixed-use redevelopment, is currently under construction 2-miles south of the property and is expected to bring over 925 permanent jobs and will include a 150-room hotel, 665 housing units and a 100K SF Vegas Golden Knights youth and recreational hockey facility.
Desert Oaks Plaza services a dense and underserved trade consisting of ±424,412 residents with an average household income of $99,607 within a 5-mile radius and benefits from proximity to Nellis Air Force Base (±12,000 military/ civilian personnel) and the Cannery Hotel & Casino (±800 employees) with a nearby daytime population exceeding ±369,276 residents.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,619 SF
Building Class
B
Year Built
2008
Price
$4,200,000
Price Per SF
$551.25
Cap Rate
7.02%
NOI
$294,725
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.31
Lot Size
0.57 AC
Zoning
C-2 - General Commercial
Parking
20 Spaces (2.63 Spaces per 1,000 SF Leased)
Frontage
307’ on Craig Rd
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 139-06-615-004 | Improvements Assessment | $327,755 |
| Land Assessment | $147,733 | Total Assessment | $475,488 |
Property Taxes
Parcel Number
139-06-615-004
Land Assessment
$147,733
Improvements Assessment
$327,755
Total Assessment
$475,488
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Desert Oaks Plaza Outparcel | 3930 W Craig Rd
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