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Winterwood Pavilion 2208-2350 N Nellis Blvd

140,260 SF 100% Leased Retail Building Las Vegas, NV 89104 $39,683,303 ($283/SF) 6.18% Cap Rate

Investment Highlights

  • 100% Leased - Long term Leases in place with options
  • Main retail corridor for East Las Vegas
  • National credit tenants
  • Attractive rental increases
  • Perfect 1031 Exchange - rare opportunity to acquire a quality multi-tenant net leased property
  • Irreplaceable street visibility on Nellis Blvd./Sahara Ave.

Executive Summary

Winterwood Pavilion is a 100% leased 140,260 square foot neighborhood shopping center, with four buildings on 15.55 acres. This shopping center sits about a mile from the US-95 Freeway at the northeast corner of E. Sahara Ave. and S. Nellis Blvd., which is one of the busiest signalized intersections in Las Vegas: an average of 69,300 cars per day. Winterwood Pavilion serves a densely populated area of more than 30,000 residents within one mile, and 200,000 residents within three miles. Shoppers love the ease of parking in a huge parking field of almost 1,000 parking stalls (more than 2.5X more than required). Three enter/exit driveways on each side of the property (Nellis and Sahara) make for ample ingress and egress. The Center received a multi-million dollar renovation in 2010, has been maintained in great condition since, and a new two tenant building was constructed in 2023. Four strong credit junior-anchors, Dollar General Market (NYSE:DG), DD's Discounts (NYSE: ROST), Planet Fitness and Harbor Freight Tools all have exercised extension options after their initial terms. Other national and regional tenants include Carl's Jr., Cricket Wireless, Dollar Loan Center, FedEx Office, Firehouse Subs, Great Clips, Jackson Hewitt, Little Caesars, Panda Express, PT's Pub and UPS Store. This Net Leased investment is perfect for an investor searching for a large low risk stable income property.
FOR A FULL RENT ROLL, PLEASE INQUIRE TO RECEIVE AN NDA.

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
140,260 SF
Building Class
B
Year Built/Renovated
1990/2004
Price
$39,683,303
Price Per SF
$283
Cap Rate
6.18%
NOI
$2,454,326
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.21
Land Acres
15.55 AC
Zoning
CG (Commercial General)
Parking
981 Spaces (7.18 Spaces per 1,000 SF Leased)
Frontage
1,064 FT on Nellis Blvd

Amenities

  • Bus Line
  • Dedicated Turn Lane
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalized Intersection

Nearby Major Retailers

Planet Fitness
The Human Bean
L & L Hawaiian Barbecue
Smith's
Bank of America
Green Valley Grocery
The Habit Burger Grill
Teriyaki Madness
Olive Garden Italian Rstrnt
Dutch Bros

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
161-04-414-002
Land Assessment
$1,894,346
Improvements Assessment
$4,443,055
Total Assessment
$6,337,401
  • Listing ID: 33250761

  • Date on Market: 9/20/2024

  • Last Updated:

  • Address: 2208-2350 N Nellis Blvd, Las Vegas, NV 89104

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