10620 Dean Martin DrLas Vegas, NV 89141

For Sale
$9,499,000

High-yield retail center, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 21,007 square foot multi-tenant retail center in Las Vegas, Nevada presents a compelling investment opportunity. Built in 2019, the property boasts four single-story buildings situated on a 2.37-acre lot (APN 177-32-111-001) and zoned U-V. Currently operating at 90% occupancy, the center generates a substantial NOI of $629,044, representing a 6.60% cap rate. The asking price is $9,499,000 ($452.18/sq ft). The property benefits from a Net Lease (NNN) structure with multi-tenancy, including a diverse mix of established businesses such as medical, dining, and self-care services. Strategically located near Harry Reid International Airport, off-strip resorts, and Interstate 15, the center enjoys convenient access and high visibility. Its proximity to the Keller Cactus Hills luxury apartment complex (210 units) and the Southern Highlands master-planned community ensures a strong customer base within a highly affluent neighborhood with average household incomes exceeding $100,000 within a one-mile radius. The property's new construction minimizes future capital expenditures, and long-term warranties are in place for major systems. A potential future exit strategy exists through parcelization of the four buildings. This is a rare opportunity to acquire a high-performing, well-located retail center with significant upside potential.

Highlights

  • Excellent location in Keller Cactus Hills, near Southern Highlands, attracting young professionals and residents.
  • Future parceling potential allows for flexible exit strategies.
  • Triple-net (NNN) leases minimize management oversight and maximize expense recovery.
  • High-income, educated demographic within a 1-mile radius ($100k+ avg. household income, 30%+ Bachelor's degrees).
  • Strong tenant mix with diverse businesses (medical, dining) including established local operators with positive reputations.
  • KAKTUSlife retail provides essential daily needs services.

Property Details for 10620 Dean Martin Dr

Property type
Lifestyle centers, Power centers
Square Feet
21,007 SF
Year Built
2019
Buildings
4
Stories
1
Lot Size (sq. ft)
103,237 SF

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
35.99660479
Longitude
-115.18367311
10620 Dean Martin Dr, Las Vegas, Nevada

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10620 Dean Martin Dr
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