2520 S Eastern Ave - Freestanding FOR SALE


Las Vegas, NV 89169- Winchester
$3,650,000 USD
702-250-3392
2520 S Eastern Ave, Las Vegas, NV for Sale
$3,650,000 USD
Freestanding - FOR SALE
1/31
null | 6% Cap Rate

2520 S Eastern Ave
Las Vegas, NV 89169
Winchester


HIGHLIGHTS

  • Highly Trafficked Prime, Signalized, Hard-Corner Location Featuring 77,500+ Vehicles Per Day
  • Eight Daily Needs Restaurant, Grocery & Service Oriented Tenants Including Subway and Total Wireless (Verizon)
  • Strong Infill Las Vegas Retail Corridor Surrounded by Multiple Regional and National Retailers
  • Close Proximity to the Las Vegas Strip, Downtown Las Vegas, Valley High School, Sunrise Hospital and UNLV
  • Tremendous Population Density with 206,655 Residents in the 3-Mile Radius and Daytime Population of 293,486
  • Durable Rent Roll: Long Term Tenancy with All Except Two of the Tenants Having Occupied for 15+ Years

OVERVIEW

PROPERTY SUMMARY Marcus & Millichap is pleased to exclusively present an excellent opportunity to acquire a quintessential infill Las Vegas retail strip center with traffic counts exceeding 77,500 vehicles per day and surrounded by an extremely dense residential population. Built in 1991, the premises are situated upon a .61 acre parcel of land. Sahara Eastern Plaza has maintained full occupancy with historically long-standing tenants, with the majority having occupied for 15+ years. The neighborhood-serving strip center features eight daily needs and service-oriented tenants, including a corporate Subway Restaurant that has occupied since 2001, a recently leased Total Wireless (Verizon), L.A. Insurance, who has occupied since 1996, a grocery market and several popular restaurants appealing to the surrounding community. Lease structures are all NNN and full expense recovery includes the opportunity to maintain various capital expense items. Additionally, the majority of the leases provide for annual rental escalations which help ensure optimal balancing against inflation. Improvements made over the past several years include a new pylon sign as well as a newly surfaced parking lot. A future owner may decide to have a billboard installed onsite as existed previously and was leased to an outdoor sign company. Property is being sold as-is. SURROUNDING AMENITIES & ECONOMIC DRIVERS Close proximity to the Las Vegas Strip, Interstate 11, Valley High School, UNLV, the Harry Reid International Airport, Sunrise Hospital, and much more. LOCATION AND ACCESSIBILITY At one of the most highly trafficked corners in the Las Vegas Valley, Sahara Eastern Plaza enjoys the hard, signalized location combined with a heightened ease of access that includes curb cuts on both major streets. The retail center features a desirable parking ratio of 5.05 spaces per 1,000 square feet.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$419 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

C-2

APN/PARCEL ID

162-12-101-001

ASK ABOUT THIS PROPERTY

Candace BareMarcus & MillichapMore Info
702-250-3392

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

Candace BareMarcus & MillichapMore Info
702-250-3392

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