For Sale
$3,690,000

6250 Mountain Vista StHenderson, NV 89014

31,307 SF, 7% Cap Rate, Value-Add

Overview

Added:
Dec 11, 2024
Days on market:
116
Peppertree Ridge, a 31,307-square-foot mixed-use property in Henderson, Nevada, presents a compelling value-add opportunity. Located at the signalized intersection of Mountain Vista Street and Ramrod Avenue, this two-story, 1983-built building boasts 32 units across 27,843 net rentable square feet, currently operating at 87% occupancy. The property sits on a 2.11-acre lot (APN 161-32-701-009) and is zoned CC. With an asking price of $3,690,000 ($118/SF) and a current NOI of $258,517, resulting in a 7.00% cap rate, this investment offers significant upside potential. The property's prime location, near the US-95 freeway and the expansive Henderson Town Center (a 250,000-square-foot shopping center), benefits from high traffic counts (approximately 28,000 cars daily) and proximity to dense multifamily housing (1,762 units within one mile). The current lease structure presents a significant value-add opportunity: only two tenants are on triple-net leases, and many tenants are on short-term leases paying below-market rents. This allows for potential lease renewals at increased rates, conversion of gross leases to triple-net leases, and replacement of underperforming tenants, ultimately enhancing income and property value.

Highlights

  • High-traffic location directly across from Henderson Town Center, a ±250,000 SF shopping center anchored by Smith's, AMC Theatres, and Barley's Casino.
  • Significant value-add potential through lease restructuring to triple-net leases at market rates.
  • High visibility and strong traffic counts (approx. 28,000 cars/day on Mountain Vista) with dense surrounding multifamily housing (1,762 units within 1 mile).

Property Details for 6250 Mountain Vista St

Property type
Retail properties, Office properties
Square Feet
31,307 SF
Year Built
1983
Stories
2
Lot Size (sq. ft)
91,912 SF
Units
32

Location Insight

City
Henderson
County
Clark
State
Nevada
Latitude
36.075526619899
Longitude
-115.07314207334
6250 Mountain Vista St, Henderson, Nevada

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6250 Mountain Vista St
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