For Sale
$8,450,000

3575 Pecos-Mcleod InterconnectLas Vegas, NV 89121

High-growth tenant, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a 16,209 square foot, Class B medical office building in Las Vegas, Nevada. The property, located at 3575 Pecos-McLeod Interconnect, 89121, is situated on a 3.04-acre lot and features a two-story building constructed in 1989, with renovations completed in 2024, including roof replacement and interior refresh. Currently 100% occupied by Shepherd Eye – a high-volume surgery center and ophthalmology clinic – under a Net Lease (NN+) agreement. The lease commenced January 1, 2010, and was recently extended, expiring May 31, 2036, with two five-year renewal options. The lease includes favorable annual rent bumps of 3.0%. The property boasts a strong Net Operating Income (NOI) of $515,276, resulting in an attractive 6.10% cap rate. The asking price is $8,450,000. Shepherd Eye, a nationally renowned practice, has a long history in the area and continues to experience significant growth. The property is zoned C-P and benefits from excellent access and visibility on a major thoroughfare, serving a strong medical demographic. This offering represents a compelling investment in a stable, high-demand sector of the real estate market, further enhanced by Las Vegas's robust economic growth and zero state income tax. The property's APN is 162-13-602-002, 162-13-605-001, 162-13-605-003, 162-13-605-004.

Highlights

  • 12-year lease renewal expiring May 2036.
  • High-growth, regionally dominant tenant.
  • State's highest-volume surgery center.
  • Strong demand for ophthalmology services driven by aging population.
  • Attractive 3% annual rent growth.
  • 2024 renovations included roof replacement and interior upgrades.

Property Details for 3575 Pecos-Mcleod Interconnect

Property type
Office properties, Medical offices
Square Feet
16,209 SF
Class
B
Year Built/Renovated
1989/2024
Buildings
1
Stories
2
Lot Size (sq. ft)
132,422 SF

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1245846
Longitude
-115.1086285
3575 Pecos-Mcleod Interconnect, Las Vegas, Nevada

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3575 Pecos-Mcleod Interconnect
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