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2 Office Buildings & 2 Acres on major Las Vegas street: Eastern Ave.

$1,700,000

5392 South Eastern Avenue, Las Vegas, NV 89119

Active
Last Updated: 08/26/2024

5

Cap Rate

110,000

NOI

Details:
Cap Rate:    5%
NOI:    $110,000
Building Size:    6,000 sqft
Lot Area:    81,345 sqft
Class:    B
Occupancy:    40%
Price Per Unit:    $40,600
Price Per Sqft:    $283
Year Built:    1964
Average Room Size:    180 sqft
Tenancy:    Multiple
Floors:    1
Parking Spots:    75
CeilingHeight:    9
Restrooms:    4
Floor:    Tile and carpet
HVAC:    Four 5 ton units
Roof:    Concrete Spanish tile
Parking Ratio:    121000
Construction Status:    Two buildings completed. Rear vacant one acre for future construction
Gross Leaseable Area:    6,000
Year Last Renovated:    2000
Lease Expire Year:    11/01/2020
Investment Strategy:    Value Add
Highlights:
  • High visibility to street with 50,000 cars per day
  • Large pylon and monument signage
  • Close to airport
  • Wide entrance to turn into and separate exit to turn left or right
  • Large windows for natural light in offices
  • Easy to locate
Description:

Two office buildings and two acres of land with 435 frontage on Eastern Ave., a major Las Vegas arterial. Business opportunity for owner-occupant in one free standing office building occupying entire 3,000 sq. ft. freestanding office building and having immediate rental income from other 3,000 sq. ft. building. Each building is designed as two separate suites of offices. One suite is 1,800 sq. ft ., the other suite is 1,200 sq. ft. , and can be combined to make one large 3,000 sq. ft. offices. One acre of vacant land in rear included for future development of two story office building, multi-family apartments, parking lot (McCarran International Airport is within one mile), storage or other commercial uses. One building can be purchased separately for $850,000 with a cooperative ingress/egress agreement to share the central entrance/exit. CALL HOWARD NEEDHAM: (702) 505-2535

Map:
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