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7610 W Cheyenne Ave 7,159 SF Office Building Las Vegas, NV 89129 $3,819,833 ($533.57/SF) 6% Cap Rate
Executive Summary
Cushman & Wakefield US, Inc. is pleased to present for acquisition the single tenant SimonMed Imaging center located at 7610 W. Cheyenne Ave. (the “Property”). This is one of nine buildings located within, Cheyenne Corporate Center, a mixed-use campus consisting of office, medical office, and retail tenants.
SimonMed Imaging, Inc. is an outpatient imaging provider based in Scottsdale, AZ and featuring approximately 170 locations nationwide. This is a company that was founded more than 20 years ago offering a wide range of medical imaging services including MRI, CT, X-ray, ultrasound, mammography, and more.
The services provided by SimonMed are classified as essential services and therefore, are not impacted by financial downturns. This investment is a long-term, stable investment offering passive income with minimal landlord responsibilities.
SimonMed’s tenancy began March 1, 2017, as a subtenant and signed a direct lease on January 1, 2021. They exercised an early extension amending the renewal term to seven years versus the original contract renewal term of five-years. This early renewal and extended term reflect a commitment to Cheyenne Corporate Center as well as this location’s success.
This is a solid investment for a buyer seeking a low-risk opportunity with a high-return in a tax-free income state.
SimonMed Imaging, Inc. is an outpatient imaging provider based in Scottsdale, AZ and featuring approximately 170 locations nationwide. This is a company that was founded more than 20 years ago offering a wide range of medical imaging services including MRI, CT, X-ray, ultrasound, mammography, and more.
The services provided by SimonMed are classified as essential services and therefore, are not impacted by financial downturns. This investment is a long-term, stable investment offering passive income with minimal landlord responsibilities.
SimonMed’s tenancy began March 1, 2017, as a subtenant and signed a direct lease on January 1, 2021. They exercised an early extension amending the renewal term to seven years versus the original contract renewal term of five-years. This early renewal and extended term reflect a commitment to Cheyenne Corporate Center as well as this location’s success.
This is a solid investment for a buyer seeking a low-risk opportunity with a high-return in a tax-free income state.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
7,159 SF
Building Class
C
Year Built
2004
Price
$3,819,833
Price Per SF
$533.57
Cap Rate
6%
NOI
$229,193
Tenancy
Single
Building Height
1 Story
Typical Floor Size
7,159 SF
Building FAR
0.22
Lot Size
0.76 AC
Zoning
C-1 - Intended to provide local businesses that serve nearby residents, such as restaurants and grocery stores
Parking
54 Spaces (7.82 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Signage
Property Taxes
| Parcel Number | 138-09-821-016 | Improvements Assessment | $276,693 |
| Land Assessment | $264,001 | Total Assessment | $540,694 |
Property Taxes
Parcel Number
138-09-821-016
Land Assessment
$264,001
Improvements Assessment
$276,693
Total Assessment
$540,694
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7610 W Cheyenne Ave
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