Regency Plaza | 3465-3495 S Maryland Pky
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Regency Plaza 3465-3495 S Maryland Pky
36,070 SF 100% Leased Retail Building Las Vegas, NV 89169 $4,200,000 ($116/SF) 5.04% Cap Rate
Executive Summary
Cushman & Wakefield is pleased to announce for sale Regency Plaza (the “Property”), an opportunistic retail investment in the Central East submarket in Las Vegas, NV. This offering presents the ability to acquire two buildings on a total of ±1.61-AC located at the signalized corner of Maryland Parkway and Sierra Vista Drive.
Located in a designated Opportunity Zone, Regency Plaza is considered a value-add investment with an asking price equal to $116/SF or $4,200,000. The Property consists of two buildings totaling ±36,070 SF of multi-tenant retail space featuring food & beverage, service, and brick and mortar retailers. One of the unique attributes of this property is the rooftop parking, allowing for a larger building footprint while satisfying the standards for required parking.
The Property is located across the street from the Boulevard Mall with major highlights being the exposure to more than 30,000 vehicles per day (VPD) on Maryland Parkway, the proximity to the Las Vegas Convention Center, the Las Vegas Strip, Harry Reid International Airport, University of Nevada, Las Vegas, and major hospitals.
Located in a designated Opportunity Zone, Regency Plaza is considered a value-add investment with an asking price equal to $116/SF or $4,200,000. The Property consists of two buildings totaling ±36,070 SF of multi-tenant retail space featuring food & beverage, service, and brick and mortar retailers. One of the unique attributes of this property is the rooftop parking, allowing for a larger building footprint while satisfying the standards for required parking.
The Property is located across the street from the Boulevard Mall with major highlights being the exposure to more than 30,000 vehicles per day (VPD) on Maryland Parkway, the proximity to the Las Vegas Convention Center, the Las Vegas Strip, Harry Reid International Airport, University of Nevada, Las Vegas, and major hospitals.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
36,070 SF
Building Class
C
Year Built/Renovated
1979/1986
Price
$4,200,000
Price Per SF
$116
Cap Rate
5.04%
NOI
$211,877
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.51
Land Acres
1.61 AC
Opportunity Zone
Yes
Zoning
C-2
Parking
124 Spaces (3.44 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score ®
Very Walkable (82)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $717,534 | |
| Land Assessment | $274,608 | Total Assessment | $992,143 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$274,608
Improvements Assessment
$717,534
Total Assessment
$992,143
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Marlene Fujita Winkel -
Emily Brun -
Cody Seager -
Cushman & Wakefield
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Regency Plaza | 3465-3495 S Maryland Pky
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