The Sahara-Nellis Retail and Self-Storage Center presents a unique and high-potential investment opportunity, combining retail, and storage space, located in a bustling corridor in Las Vegas. This property covers approximately 10,248 square feet dedicated retail, offering 16 office/retail suites and around 8,450 square feet of storage space distributed across 47 units on 1.22 acres of land. Its prime location is strategically positioned along a dense retail corridor, shadow-anchored by Smith's, and is surrounded by an impressive mix of national tenants such as Starbucks, Walgreens, FedEx, and Bank of America. The site is designed to thrive in a market characterized by strong fundamentals and future growth drivers.
The market conditions surrounding this asset are particularly appealing. Las Vegas' commercial real estate supply is currently at a historic low, with new commercial deliveries in 2025 expected to drop below 900,000 square feet. This creates a rare opportunity in an increasingly constrained market. Vacancy rates in the valley have fallen to a 17-year low of 5.1%, with the current availability rate at 5.3%, the lowest year-end rate since pre-2008. These tightening conditions indicate a strong demand for space, further supported by a growing daytime population of over 153,000 people within a 3-mile radius and 13,316 households within a 1-mile radius.
The rental growth potential for this property is significant. The retail component includes leases with built-in annual rent escalations of 2%, while the storage units offer flexibility with monthly pricing adjustments to align with market trends. Over the past year, rents in Las Vegas have increased by 4.9%, exceeding the national average, and the market has experienced six consecutive years of rent growth, suggesting a continued upward trend.
The property's location also guarantees high visibility and traffic, benefiting from its proximity to major national retailers and drawing consistent consumer attention. With national tenants nearby and a substantial amount of foot traffic, this center is well-positioned for tenant retention and future value appreciation.
The Sahara-Nellis Mixed-Use Center stands out as a strategic investment in a market with unmatched growth drivers, limited supply, and strong long-term potential. This represents a significant opportunity to engage in one of the fastest-growing real estate markets in the nation and secure a solid return on investment amid rising demand and constrained supply.