235 N Eastern Ave - Freestanding FOR SALE


Las Vegas, NV 89101
$7,500,000 USD
702-787-0123
235 N Eastern Ave, Las Vegas, NV for Sale
$7,500,000 USD
Freestanding - FOR SALE
1/14
null | 7.33% Cap Rate

235 N Eastern Ave
Las Vegas, NV 89101


HIGHLIGHTS

  • On a signalized corner with over 96,000 CPD on Eastern Ave & the I-95 Freeway.
  • Over 90% leased.
  • Small to mid-sized units increase leasing pool.

OVERVIEW

This is an investment opportunity to purchase a fee simple interest in 235 N Eastern Ave (Stewart Square), a neighborhood shopping center in the center of Las Vegas, NV. 91% leased up (3,600 square feet / 2 units vacant), this is a core property that has upside value add characteristics as well. - On a signalized corner of Stewart Ave and N Eastern Ave with over 96,000 CPD. - NNN leases. - Average rents are $1.21 per month with upside with some TLC (e.g. paint, signage, landscaping, etc.) - Property is priced to sell at a 7% cap rate on 2024 pro forma numbers (current owner also manages and leases the property in-house).

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

7.33%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stewart Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

196

LAND DETAILS

CROSS STREETS

Stewart

LAND ACRES

3.58 AC

LAND SF

155,945 SF

ZONING

C-1

APN/PARCEL ID

139-35-702-002

ASK ABOUT THIS PROPERTY

Chris EmanuelVirtus CommercialMore Info
702-787-0123

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Chris EmanuelVirtus CommercialMore Info
702-787-0123

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