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470 E Windmill Ln
Las Vegas, NV 89123
Pad A · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Quintessential Strip Center – Leased to a synergistic line up of retail, service, entertainment, fitness, medical and QSR restaurant tenants
- Significant NOI Growth – Due to embedded increases and rolling below market rents, the Net Operating Income is expected to increase more than $539,000
- More than 12,900 residents with an Average Household Income exceeding $128,700 within a 1-mile radius
- Recent Leasing Momentum – Renewals or signed new leases on ±27% of the RSF demonstrating the continued strong leasing activity & tenant loyalty
- South East Las Vegas Retail Hub Location – The opportunity is located along E Windmill Lane (±24,266 CPD) between Amigo Street & Bermuda Rd (±9,307)
EXECUTIVE SUMMARY
* Quintessential Strip Center – Windmill Lane Plaza is a ±49,763 SF multi-tenant retail center that is leased to a synergistic line up of retail, service, entertainment, fitness, medical and QSR restaurant tenants including, e7 Health, Rivas Mexican Grill, V Thai Basil, Anytime Fitness, Great Clips, Nevada Heart & Vascular Center and others all on NNN leases.
* Recent Leasing Momentum – Completed renewals or signed new leases on ±27% of the RSF demonstrating the continued strong leasing activity and tenant loyalty.
* Significant NOI Growth – Due to embedded increases and rolling below market rents, the Net Operating Income is expected to increase more than $539,000 (35%) over the expected hold period leading to a healthy CAGR of 3.1%.
* South East Las Vegas Retail Hub Location – The opportunity is located within the middle of the suburbs of Southeast Las Vegas along E Windmill Lane (±24,266 CPD) between Amigo Street and Bermuda Road (±9,307 CPD) one of this Las Vegas suburbs’ primary thoroughfares . The site is surrounded by retail national credit tenants that include Vons, Smith’s, CVS, Wells Fargo, Chase, and Starbucks to name a few; while being proximate to the Las Vegas Premium Outlets South that boasts tenants like Van’s, Round1 Bowling, Guess, Nike, Hugo Boss, GAP, PacSun and others.
* Growing & Affluent Las Vegas Suburb Location
* More than 12,900 residents with an Average Household Income exceeding $128,700 within a 1-mile radius.
* More than 110,600 residents with an Average Household Income exceeding $114,000 within a 3-mile radius.
* More than 358,200 residents with an Average Household Income exceeding $118,700 within a 5-mile radius.
* Recent Leasing Momentum – Completed renewals or signed new leases on ±27% of the RSF demonstrating the continued strong leasing activity and tenant loyalty.
* Significant NOI Growth – Due to embedded increases and rolling below market rents, the Net Operating Income is expected to increase more than $539,000 (35%) over the expected hold period leading to a healthy CAGR of 3.1%.
* South East Las Vegas Retail Hub Location – The opportunity is located within the middle of the suburbs of Southeast Las Vegas along E Windmill Lane (±24,266 CPD) between Amigo Street and Bermuda Road (±9,307 CPD) one of this Las Vegas suburbs’ primary thoroughfares . The site is surrounded by retail national credit tenants that include Vons, Smith’s, CVS, Wells Fargo, Chase, and Starbucks to name a few; while being proximate to the Las Vegas Premium Outlets South that boasts tenants like Van’s, Round1 Bowling, Guess, Nike, Hugo Boss, GAP, PacSun and others.
* Growing & Affluent Las Vegas Suburb Location
* More than 12,900 residents with an Average Household Income exceeding $128,700 within a 1-mile radius.
* More than 110,600 residents with an Average Household Income exceeding $114,000 within a 3-mile radius.
* More than 358,200 residents with an Average Household Income exceeding $118,700 within a 5-mile radius.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
49,763 SF
Building Class
B
Year Built/Renovated
2008/2018
Price
$25,198,000
Price Per SF
$506.36
Cap Rate
6.10%
NOI
$1,537,072
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
4.36 AC
Zoning
C-1
Parking
225 Spaces (4.52 Spaces per 1,000 SF Leased)
Frontage
65’ on E Windmill Ln
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 177-10-411-001 | Improvements Assessment | $2,090,370 |
| Land Assessment | $1,013,709 | Total Assessment | $3,104,079 |
PROPERTY TAXES
Parcel Number
177-10-411-001
Land Assessment
$1,013,709
Improvements Assessment
$2,090,370
Total Assessment
$3,104,079
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