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  • Price: $4,533,333
  • Property Size: 28,281 SF
  • Land Area: 2.83 Acres
  • Cap Rate: 7.47%
  • NOI: $338,578
  • $/SF: $160
  • Occupancy: 100% with Rent Guarantee
  • Property Type: Retail
  • Property Status: For Sale

Description

Sun Commercial Real Estate, Inc. is pleased to offer an exceptional opportunity to purchase Regency Plaza, a 28,281 SF retail center located at 320 N. Nellis Boulevard in Las Vegas, Nevada. This multi-tenant retail property is currently 100% occupied (1) with a mix of local tenants and surrounded by National Retailers such as Wal-Mart, Ross, Smith’s, Goodwill, .99 Cent Only Store, Target, among others.

The rent roll is 100% Internet resistant and the major tenant is a strong local Events center tenant with a 25 year history.

Investment Highlights

  • National Credit – The property is surrounded by National Credit Tenants such as Wal-Mart, Ross, Smith’s, Goodwill, .99 Cent Only Store, Target, among others. Adjacent Denny’s & Super Pawn drive additional traffic to the center – Aerial map on page 7
  • Below Market Rents – The most recent lease was signed at $1.35 PSF NNN per month while the leases in the center average $0.92 PSF NNN, or 31% below the market
  • 100% Internet Resistant Tenants – Service, Medical, Restaurant and Entertainment uses comprise 100% of the rent roll
  • Dense Residential Location – Population of over 219,897 residents within a 3-mile radius – Demos on page 18-20
  • Future Development – Excess 1 acre of land for future development for uses such as office, retail or mini-storage

 

Property Documents

Contact info

Cathy Jones
Cathy Jones
(702) 968-7320(702) 595-8765
Linkedin
Roy Fritz
Roy Fritz
(702) 968-7322(702) 482-9675
Linkedin

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