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- LoopNet Team
4511 W Cheyenne Ave
North Las Vegas, NV 89032
Cheyenne Air Center · Specialty Property For Sale
·
146,940 SF
INVESTMENT HIGHLIGHTS
- DOD lease in place until 12/12/27
EXECUTIVE SUMMARY
This building is a private 16,250 sf airport hangar. The hangar building is valued at $2m, but the additional value is in the existing long term lease with Remote Imagery Technologies Incorporated (RITI). RITI has contracts with the Department of Defense (DOD). There are 13 years remaining in the initial term which expires on December 12, 2027. The tenant has the right to extend to the end of the land lease in 2036. There are twenty-two (22) years remaining on the land lease with Clark County Department of Aviation. The current annual rental income is $317,454, less CAM charges of $46,461 for an NOI of $270,990. Tenant is responsible for all expenses except CAM charges. Beginning in 2019 rents increase 3% annually brining 2027 rents to $414,205. Tenant has $1m in tenant improvements. The NLV airport is surrounding by commercial and residential development. Easy access to building along West Cheyenne with high visibility.
PROPERTY FACTS
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Airplane Hangar | Year Built | 1998 |
| Building Class | B | Parking Ratio | 0.52/1,000 SF |
| Lot Size | 4.87 AC | Clear Ceiling Height | 12’ |
| Building Size | 146,940 SF | APN / Parcel ID | 139-18-101-006 |
| Zoning | M-2 | ||
| Property Type | Specialty |
| Property Subtype | Airplane Hangar |
| Building Class | B |
| Lot Size | 4.87 AC |
| Building Size | 146,940 SF |
| No. Stories | 1 |
| Year Built | 1998 |
| Parking Ratio | 0.52/1,000 SF |
| Clear Ceiling Height | 12’ |
| APN / Parcel ID | 139-18-101-006 |
| Zoning | M-2 |
AMENITIES
- Bus Line
- Signage
