Nucleus Plaza | 93% Occupied | Las Vegas Retail

Highlights:

• Offered below half of replacement cost and at an exceptional cap rate
• 68% of the income stream from seasoned tenants with 5+ years occupancy at the center with 80% of the square footage occupied by seasoned and/or tenants thathave been in business over 5 years
• Located in a submarket experiencing significant redevelopment and improvements with neighboring 25 acre property slated for potential future redevelopment
• Submarket’s close proximity to Downtown Las Vegas makes redevelopment highly desirable
• Welfare office has consistently extended their lease, most recent extension occurring in the second quarter of 2024
• Located in Historic West Side Opportunity Zone offering the benefit of Capital Gains Tax Deferral

Description:

RI Marketplace Online Auction May 5-7, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2457/nucleus-plaza-93-occupied-las-vegas-retail?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2457

Nucleus Plaza is a 109,343 square foot, single story, mixed use retail center located on the corner of Owens and H street in the Historic West Side of Las Vegas. This submarket is undergoing substantial redevelopment and/or remodeling of existing properties, as a result of the City of Las Vegas’ Hundred Plan. In addition, the Southern Nevada Housing Authority is about to commence construction of the Marble Manor low income housing complex, a 35 acre project that is to be completely redeveloped. The Southern Nevada Housing Authority also owns two contiguous parcels with low income housing totaling almost 25 acres that shares the rear property line of Nucleus Plaza. It is the current owners understanding that this entire property is also slated for future redevelopment as is occurring with Marble Manor. This area’s proximity to downtown Las Vegas makes it highly desirable for this kind of redevelopment. Nucleus Plaza consists of 16 in place tenants with 68% of the income stream being generated by tenants that have been at the center for over 5 years. The largest tenant, the Nevada State Welfare office, has occupied its’ space over 10 years.

This offering will trade at below half of replacement cost and will provide an exceptional Cap rate and cash on cash return for a property in a location which will only improve. The income stream is free of competition from online retailing and will provide many years of stable cash flow. For the conservative investor looking to acquire a stabilized income producing asset at well below replacement cost, which is located in a submarket which will benefit from many years of future redevelopment, Nucleus Plaza is an exceptional opportunity. The potential upside that can be realized in this area due to all the redevelopment resources that are being committed makes this a rare opportunity.

Shane P. Jacob
c/o Fisher Auction Company Inc.
License: NV20141327564
P63-000561; Clark County: 2000817-056-221

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