2400 N Buffalo Dr - Retail FOR SALE


Las Vegas, NV 89128- Summerlin
$6,680,000 USD
949-734-0243
2400 N Buffalo Dr, Las Vegas, NV for Sale
$6,680,000 USD
Retail - FOR SALE
1/13
null | 6.54% Cap Rate

2400 N Buffalo Dr
Las Vegas, NV 89128
Summerlin


HIGHLIGHTS

  • 100% leased, six-tenant NNN neighborhood retail investment with stable in-place cash flow
  • Every tenant when current ownership acquired the property in 2017 remains in operation
  • Sierra Gold occupies approximately 50% of the property’s gross leasable area and is leased through July 2031 with one additional five-year option
  • MountainView Hospital, Desert Shores’ 3,351 master-planned housing unit, nearby schools, regional sports facilities support recurring customer demand
  • Signalized hard-corner visibility with approximately 40,000 combined vehicles per day, convenient ingress and egress
  • 8.6:1 parking ratio (123 parking spaces) and limited immediately competing neighborhood shop space

OVERVIEW

2400 North Buffalo Drive is a 100% leased, six-tenant NNN neighborhood retail investment totaling 14,282 square feet on approximately 2.04 acres in Las Vegas, Nevada. The property is distinguished by durable in-place cash flow and a documented history of tenant retention. Every tenant that was in place when current ownership acquired the property in 2017 remains in operation, and every operating tenant has exercised one or more lease extensions. All but one of the current tenants predates current ownership, while three tenants representing more than two-thirds of the property’s gross leasable area had already occupied the center for at least five years before the acquisition. Sierra Gold, the center’s established anchor, occupies approximately 50% of the property and is leased through July 2031 with one additional five-year option. Located at a signalized hard corner, the property benefits from approximately 40,000 combined vehicles per day, convenient ingress and egress, and 123 parking spaces. The tenant mix is supported by a robust combination of recurring demand generators, including MountainView Hospital and its adjacent medical office campus, the 3,351-unit Desert Shores master-planned community, nearby multifamily housing, schools, regional sports facilities and surrounding employment. Within one mile, the trade area includes approximately 18,389 residents, 13,093 employees and an average household income of approximately $105,230. Limited immediately competing neighborhood retail inventory further supports future occupancy stability and long-term residual value. The offering provides an opportunity to acquire established neighborhood retail with demonstrated renewal behavior, strong visibility and parking, and a tenant mix closely aligned with the surrounding customer base.

FOR SALE DETAILS

PRICE

$6,680,000 USD

PRICE/SF

$467 USD /SF

CAP RATE

6.54%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Leased Las Vegas Retail Investment

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

123

LAND DETAILS

CROSS STREETS

Smoke Ranch Rd

LAND ACRES

2.04 AC

LAND SF

88,862 SF

ZONING

C-1, Las Vegas

APN/PARCEL ID

138-15-402-001

ASK ABOUT THIS PROPERTY

Jonathan SelznickLee & Associates Commercial Real Estate ServicesMore Info
949-734-0243

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Jonathan SelznickLee & Associates Commercial Real Estate ServicesMore Info
949-734-0243

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.