3162-3164 Las Vegas Blvd N
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3162-3164 Las Vegas Blvd N
18,619 SF 100% Leased Retail Building Las Vegas, NV 89115 $3,900,000 ($209/SF) 6.22% Cap Rate
Investment Highlights
- STABILIZED CASH FLOW: Property is 100% leased to a mix of automotive related tenants who have recently signed term NNN leases.
- LONGEVITY OF TENANTS: All tenants have operated at the Property since before 2014.
- STRATEGIC LOCATION: Property is located with ±180 ft of frontage on N. Las Vegas Blvd.
- EASE OF OWNERSHIP: Tenants are responsible for maintenance, repair, and replacement of nonstructural portions of premises.
- SIGNIFICANT RECENT CAPITAL IMPROVEMENTS: Over the past few months, the Property has seen substantial upgrades.
- INCOME TAX-FREE STATE: Nevada has no state income tax.
Executive Summary
The Investment Services Group of LOGIC Commercial Real Estate has been exclusively retained to offer qualified investors the opportunity to acquire a ±16,460 SF multi-tenant, two-story automotive retail & service building along with a ±2,159 SF single-story retail building and a separate vehicle smog station located at 3162 & 3164 N. Las Vegas Blvd a northeast suburb of the Las Vegas MSA situated on a ±1.24 AC parcel. The Property is 100% occupied by five tenants: two mechanic shops, a tire shop, a wheel repair shop, and an automotive battery store with a vehicle smog station. All tenants have been at the Property since before 2014 and have recently signed new term leases. The Property is well situated on N. Las Vegas Blvd, northeast of N. Pecos Rd. which sees ±18,500 vehicles per day.
Link to OM: https://logiccre.com/1031_properties/3162-3164-n-las-vegas-blvd/
Link to OM: https://logiccre.com/1031_properties/3162-3164-n-las-vegas-blvd/
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
18,619 SF
Building Class
C
Year Built/Renovated
1970/2011
Price
$3,900,000
Price Per SF
$209
Cap Rate
6.22%
NOI
$242,580
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.34
Lot Size
1.24 AC
Zoning
IP
Parking
44 Spaces (2.36 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 140-18-102-029 | Improvements Assessment | $233,510 |
| Land Assessment | $141,787 | Total Assessment | $375,297 |
PROPERTY TAXES
Parcel Number
140-18-102-029
Land Assessment
$141,787
Improvements Assessment
$233,510
Total Assessment
$375,297
Contacts
-
Cathy Jones -
Blaze Katz -
Paul Miachika -
Karim Chatoor -
Logic Commercial Real Estate
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3162-3164 Las Vegas Blvd N
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