1945 N Walnut Rd - Mead Mini Storage
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1945 N Walnut Rd - Mead Mini Storage
20,800 SF Specialty Building Offered at $3,150,000 in Las Vegas, NV 89115
Executive Summary
MANAGEMENT UPSIDE // The owner has struggled to find good, consistent management for the site. The owner is on their second management company in their time of ownership. The property has been operated by remote management companies that failed to drive occupancy and keep rents in line with the market. For both management companies, this was their only property in the region, making remote management and staffing difficult.
RECENTLY COMPLETED CAPEX // The owner recently removed and replaced all asphalt drives, installed a new security camera system, and five entry keypads, updated the security lighting, replaced the rolling gates, and increased the fence height. As needed and as units are
available the owner has been replacing wooden roll-up doors with steel doors.
STRONG DEMOGRAPHICS // The property is in a densely populated area of Las Vegas, on Route 147, serving 35,000 vehicles per day. Within the three-mile radius, there are just under 225,000 residents with a five-year projected growth rate of 2.26 percent. There is one new development project in the trade area, 3.8 miles from the subject property. The current supply is 8.10 square feet per capita.
RECENTLY COMPLETED CAPEX // The owner recently removed and replaced all asphalt drives, installed a new security camera system, and five entry keypads, updated the security lighting, replaced the rolling gates, and increased the fence height. As needed and as units are
available the owner has been replacing wooden roll-up doors with steel doors.
STRONG DEMOGRAPHICS // The property is in a densely populated area of Las Vegas, on Route 147, serving 35,000 vehicles per day. Within the three-mile radius, there are just under 225,000 residents with a five-year projected growth rate of 2.26 percent. There is one new development project in the trade area, 3.8 miles from the subject property. The current supply is 8.10 square feet per capita.
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Property Facts
| Price | $3,150,000 | Lot Size | 1.14 AC |
| Price Per SF | $151 | Building Size | 20,800 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1984 |
| Property Subtype | Self-Storage | Parking Ratio | 0.13/1,000 SF |
| Building Class | C |
| Price | $3,150,000 |
| Price Per SF | $151 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.14 AC |
| Building Size | 20,800 SF |
| No. Stories | 1 |
| Year Built | 1984 |
| Parking Ratio | 0.13/1,000 SF |
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PROPERTY TAXES
| Parcel Number | 140-19-302-002 | Improvements Assessment | $210,101 |
| Land Assessment | $121,662 | Total Assessment | $331,763 |
PROPERTY TAXES
Parcel Number
140-19-302-002
Land Assessment
$121,662
Improvements Assessment
$210,101
Total Assessment
$331,763
zoning
| Zoning Code | C-2 |
| C-2 |
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1945 N Walnut Rd - Mead Mini Storage
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