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Desert Inn Pecos Plaza
3025 E. Desert Inn Road. ,
Las Vegas , NV 89121
 
$6,000,000
Offering Price
$395,731
NOI
6.60%
Cap Rate
$125
Price Per SF
48,172
Building SF
Multiple
Tenancy
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$6,000,000
Offering Price
$395,731
NOI
6.60%
Cap Rate
$125
Price Per SF
48,172
Building SF
Multiple
Tenancy
Investment Summary
Desert Inn Pecos Plaza located at 3025 East Desert Inn road Las Vegas Nevada 89121. The total square footage of the project is 48,172 sq sf and sits on 3.36 acres. The property is anchored by a 9,688 SF Family Dollar, a 7000 SF banquet hall Fiesta Max, and a 7184 SF Casye Furniture. Di Pecos Plaza is located in Clark county and is zoned General Commercial (C-2). Located at the signalized intersection East Desert Inn and South Pecos Mcloud interchange. The population in a three mile radius is over 230,975 people. Average household income for the area is in excess of $54,806. Traffic counts along Desert Inn and Pecos are on average of 72,000 vehicles per day. Desert Inn Pecos Plaza is well located, on a signalized intersection. The current tenant mix includes three national tenants includes; Family Dollar, Liberty Tax, and Express Check cashing. Currently 96.6% occupied, this center presents strong upside potential for an investor to create value and further stabilize the property over the next three to five years. The list price per square foot are well below replacement cost. This will allow the new owner to price the rollover spaces aggressively, driving up the net income. UNDERWRITING The property has Fifteen tenants occupying 46,472 SF or 96.6% of the center. There is 1 vacancy at this location. Gross monthly rent is $32,086.97 and current annual rent income of $385,043.64. Projected income June 1, 2018 to May 31, 2019 $410,718.00 or $34,226.50 Monthly. Cam charges are estimated at .32 per square foot per month or $3.84 per square foot per year when 100% occupied Total monthly cam amount collected is $12,848.56. Total annual collected cam amount is $154,182.72. Current monthly cam $12,208.56 or $146,502.72 annually.
Investment Highlights
National Credited Tenants
Long Term NNN Leases
Close Proximity to Residential
FOR MORE DETAILS CONTACT
John Weisler
Broker
(702) 595-4295
john@jwmichaelsrealty.com
B.1002034.LLC
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