4501- Paradise RdLas Vegas, NV 89169

For Sale
$49,000,000

High-yield, multi-tenant retail center.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 143,312 square foot retail center in Las Vegas, NV, presents a compelling investment opportunity. Boasting a prime location just one block from UNLV's campus and across from Virgin Hotels, this property benefits from high foot traffic and visibility. The 3.29-acre site features 11 tenants, including 7-Eleven, Dunkin', Subway, White Castle, Sbarro's Pizza, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all operating under 100% occupancy with NNN leases. The property offers a weighted average lease term of 6.2 years, minimizing near-term lease-up risk. Built in 1987 and renovated in 2015, the center includes 190 parking spaces and benefits from built-in rent bumps. The property's strong financial performance is reflected in its $49,000,000 asking price, $2,697,653 NOI, and a pro-forma cap rate of 5.5%. Located 1.2 miles from the Las Vegas Strip, this asset is strategically positioned to capitalize on the area's robust tourism and student population. The property's zoning is H-1, and its APN is 162-22-312-001. The net rentable square footage is 31,037, with a price per square foot of $341.91. This is a generational asset with significant upside potential.

Highlights

  • 143,312 SF retail center in Las Vegas, NV, one block from UNLV and across from Virgin Hotels.
  • 100% occupied with 11 tenants including 7-Eleven, Dunkin', Subway, White Castle, Sbarro's, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all under NNN leases.
  • 6.2-year weighted average lease term (WALT), minimizing lease-up risk.
  • Prime location near the Las Vegas Strip, UNLV, and Virgin Hotels, generating high foot traffic.
  • $49,000,000 asking price, $2,697,653 NOI, and a 5.5% pro-forma cap rate.
  • 3.29-acre site with 190 parking spaces, built in 1987 and renovated in 2015. APN: 162-22-312-001, Zoning: H-1.

Property Details for 4501- Paradise Rd

Property type
Lifestyle centers, Power centers
Square Feet
143,312 SF
Year Built/Renovated
1987/2015
Lot Size (sq. ft)
143,312 SF

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1295416
Longitude
-115.1325897
4501- Paradise Rd, Las Vegas, Nevada

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4501- Paradise Rd
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