6175 W Sunset Rd
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6175 W Sunset Rd
23,721 SF 100% Leased Office Building Las Vegas, NV 89118 $11,500,000 ($485/SF) 5.60% Cap Rate
Investment Highlights
- Class A, Two-Tenant Net Lease Office Investment - Prime Southwest Location
- NEW BUILDING QUALITY AND WALKABLE AMENITIES
- HIGH TENANT QUALITY - (NASDAQ: GDEN)
Executive Summary
EXCELLENT SOUTHWEST SUBMARKET LOCATION
* Located in the Southwest submarket, which is arguably the best performing office submarket with just ±8.7% vacancy as of 2Q24.
* Immediate freeway access at Jones Blvd and I-215 interchange. Less than 3 miles from I-15 interchange.
* Surrounded by properties owned and operated by Ultimate Fighting Championship (UFC) which is the largest Mixed Martial Arts promotion in the world. The properties include UFC HQ and UFC Apex, a facility for production for host studio shows and live events.
HIGH TENANT QUALITY
* Golden Entertainment, Inc. (NASDAQ: GDEN) and its wholly-owned subsidiaries own and operate a diversified entertainment platform, consisting of a portfolio of gaming assets that focus on casino and branded tavern operations. The Company’s portfolio includes eight casino properties located in Nevada, as well as 71 branded taverns targeting local patrons located primarily in the greater Las Vegas, Nevada metropolitan area.
* Hawaiian Pacific University (HPU): Founded in 1965, Hawaiian Pacific University is a private university with existing campuses in Hawaii and their new Las Vegas campus. With Las Vegas considered as the “9th Island” due to its large Hawaiian population, Southern Nevada was a logical location for their first expansion beyond Hawaii. The new Las Vegas campus will offer HPU’s new innovative Doctor of Occupational Therapy (OTD) and Doctor of Physical Therapy (DPT) programs.
NEW BUILDING QUALITY AND WALKABLE AMENITIES
* Built in 2020, the property has been professional maintained minimizing any potential deferred maintenance.
* Walkable amenities include Sambalatte, Sierra Gold Tavern, Tropical Smoothie Café and Omakase Kyara Sake Bar and short drive to Town Square, UnCommons, The Arroyo Market Square and the new Durango Station Casino & Resort.
* Located in the Southwest submarket, which is arguably the best performing office submarket with just ±8.7% vacancy as of 2Q24.
* Immediate freeway access at Jones Blvd and I-215 interchange. Less than 3 miles from I-15 interchange.
* Surrounded by properties owned and operated by Ultimate Fighting Championship (UFC) which is the largest Mixed Martial Arts promotion in the world. The properties include UFC HQ and UFC Apex, a facility for production for host studio shows and live events.
HIGH TENANT QUALITY
* Golden Entertainment, Inc. (NASDAQ: GDEN) and its wholly-owned subsidiaries own and operate a diversified entertainment platform, consisting of a portfolio of gaming assets that focus on casino and branded tavern operations. The Company’s portfolio includes eight casino properties located in Nevada, as well as 71 branded taverns targeting local patrons located primarily in the greater Las Vegas, Nevada metropolitan area.
* Hawaiian Pacific University (HPU): Founded in 1965, Hawaiian Pacific University is a private university with existing campuses in Hawaii and their new Las Vegas campus. With Las Vegas considered as the “9th Island” due to its large Hawaiian population, Southern Nevada was a logical location for their first expansion beyond Hawaii. The new Las Vegas campus will offer HPU’s new innovative Doctor of Occupational Therapy (OTD) and Doctor of Physical Therapy (DPT) programs.
NEW BUILDING QUALITY AND WALKABLE AMENITIES
* Built in 2020, the property has been professional maintained minimizing any potential deferred maintenance.
* Walkable amenities include Sambalatte, Sierra Gold Tavern, Tropical Smoothie Café and Omakase Kyara Sake Bar and short drive to Town Square, UnCommons, The Arroyo Market Square and the new Durango Station Casino & Resort.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
23,721 SF
Building Class
B
Year Built
2020
Price
$11,500,000
Price Per SF
$485
Cap Rate
5.60%
NOI
$644,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
11,855 SF
Building FAR
0.25
Land Acres
2.20 AC
Zoning
C-2 - Commercial
PROPERTY TAXES
| Parcel Number | 176-02-511-010 | Improvements Assessment | $702,646 |
| Land Assessment | $597,641 | Total Assessment | $1,300,287 |
PROPERTY TAXES
Parcel Number
176-02-511-010
Land Assessment
$597,641
Improvements Assessment
$702,646
Total Assessment
$1,300,287
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6175 W Sunset Rd
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