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The Village of Centennial Springs 7541 Tule Springs Rd 5,708 SF 66% Leased Retail Building Las Vegas, NV 89131 $3,887,405 ($681.05/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Irreplaceable real estate and location in the heart of the booming Northwest submarket
- Dense trade area with above-average household incomes and strong population growth projections
- Limited retail in submarket, leading to strong future demand and rent growth for years to come
- Vacant end cap available for immediate occupancy or lease-up with 22' ceiling height
EXECUTIVE SUMMARY
The Village of Centennial Springs is a one-of-a-kind mixed-use property, located at 7541 Tule Springs Rd, including a meticulously maintained mixed-use environment featuring popular dining, boutique retail, office, and residential components that consists of 45,134 rentable square feet situated on 5.79 acres of land.
The property is located just off the US-95 and Durango interchange with traffic counts exceeding 110,000 CPD. Surrounded by an affluent and growing residential base, including the 2,000-acre Sunstone master-planned community.
This property has been labeled “The Crown Jewel of the Northwest” by local Councilwoman Nancy Brune.
Over the past five years the property has undergone many changes. Eggworks (A well known Las Vegas chain) bought land and built a new 5,200 sqft breakfast restaurant. Fore Development bought 5.62 acres adjacent to the Village and created a new 143-unit brownstone multifamily complex that is 95 percent leased and completed construction in September 2022. Pop Squires Park at The Village was donated to the City of Las Vegas and is now zoned Recreational and will never be built upon. A park that the entire community enjoys every day and frequents during local weekend farmers markets held on Norman Rockwell Ln.
The property is located just off the US-95 and Durango interchange with traffic counts exceeding 110,000 CPD. Surrounded by an affluent and growing residential base, including the 2,000-acre Sunstone master-planned community.
This property has been labeled “The Crown Jewel of the Northwest” by local Councilwoman Nancy Brune.
Over the past five years the property has undergone many changes. Eggworks (A well known Las Vegas chain) bought land and built a new 5,200 sqft breakfast restaurant. Fore Development bought 5.62 acres adjacent to the Village and created a new 143-unit brownstone multifamily complex that is 95 percent leased and completed construction in September 2022. Pop Squires Park at The Village was donated to the City of Las Vegas and is now zoned Recreational and will never be built upon. A park that the entire community enjoys every day and frequents during local weekend farmers markets held on Norman Rockwell Ln.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
5,708 SF
Building Class
B
Year Built
2007
Price
$3,887,405
Price Per SF
$681.05
Cap Rate
6%
NOI
$233,244
Percent Leased
66%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.05
Lot Size
2.54 AC
Zoning
T-C
Parking
18 Spaces (3.15 Spaces per 1,000 SF Leased)
Frontage
305’ on Tule Springs Rd
AMENITIES
- Dedicated Turn Lane
- Signage
- Signalized Intersection
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Former dry cleaner space with 22 ft ceiling height in a portion of the space.
| Space | Size | Space Use | Position | Available |
| 110 | 1,964 SF | Retail | End Cap | Now |
110
| Size |
| 1,964 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1 of 9
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
110
| Size | 1,964 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Former dry cleaner space with 22 ft ceiling height in a portion of the space.
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 125-17-720-001 | Improvements Assessment | $2,652,892 |
| Land Assessment | $1,588,936 | Total Assessment | $4,241,828 |
PROPERTY TAXES
Parcel Number
125-17-720-001
Land Assessment
$1,588,936
Improvements Assessment
$2,652,892
Total Assessment
$4,241,828
1 of 18
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
The Village of Centennial Springs | 7541 Tule Springs Rd
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