For Sale
$9,567,500

250 240 & 150 HwyPahrump, NV 89048

Thriving retail center, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This 37,850 square foot shopping center in Pahrump, Nevada, presents a compelling investment opportunity. Located at 250, 240 & 150 Highway 160, this multi-tenant property boasts 90% occupancy and a strong Net Operating Income (NOI) of $694,044. Built in 1998 and renovated in 2004, the center sits on a 3.02-acre lot with ample parking (735 spaces). The property is zoned GC – General Commercial and features a desirable tenant mix, including 39% restaurant tenants. Key anchors include Albertsons and CVS, ensuring consistent traffic. The center benefits from its prime location in Pahrump's main retail hub, near major retailers like Home Depot and Walmart, attracting over 2,000,000 visitors annually. The property's tenant suites average 65 feet in depth, offering excellent frontage. With a current 10% vacancy, there's immediate potential for increased revenue. Financial projections indicate a 7.6% cash-on-cash return in year two with 50% leverage and a 15.91% levered IRR over five years. The property's APN is 038-213-43, 038-213-30 & 038-213-42. This is a rare opportunity to acquire a well-established, high-performing retail center in a growing market. The asking price is $9,567,500, and the lease type is NNN.

Highlights

  • $9,567,500 asking price for a 37,850 square foot shopping center.
  • 90% occupancy with a $694,044 Net Operating Income (NOI).
  • 7.6% Year 2 cash-on-cash return with 50% leverage and a 15.91% levered IRR over 5 years.
  • Strong historical occupancy; anchor spaces fully occupied since 2004, with 43% of original tenants remaining.
  • 39% of tenants are restaurants, located in a prime Pahrump retail location near Home Depot, Albertsons, CVS, and Walmart.

Property Details for 250 240 & 150 Hwy

Property type
Lifestyle centers, Power centers
Square Feet
37,850 SF
Year Built/Renovated
1998/2004
Lot Size (sq. ft)
131,551 SF

Location Insight

City
Pahrump
County
Nye
State
Nevada
Latitude
36.2165044
Longitude
-115.9936132
250 240 & 150 Hwy, Pahrump, Nevada

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250 240 & 150 Hwy
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