For Sale
$22,600,000

8826-8878 Eastern Ave Las Vegas, NV 89123

75,995 SF Shopping Center, 7.13% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents Regal Plaza, a 75,995-square-foot shopping center in Las Vegas, Nevada. Located at the hard corner of Eastern Avenue and Pebble Road, this property benefits from high visibility and convenient access via the 215 freeway. The six-building complex, constructed between 1999 and 2002, boasts a diverse tenant mix of 30 retail, restaurant, and professional service businesses, ensuring a stable income stream. Currently operating at 96% occupancy, the property generates a Net Operating Income (NOI) of $1,611,732, with a pro-forma NOI of $1,702,962, reflecting a 7.13% cap rate and a pro-forma cap rate of 7.54%. The asking price is $22,600,000, translating to a price per square foot of $297.39. The property features two large pylon signs visible to over 40,000 vehicles daily. Its CG zoning allows for potential expansion, with approximately 27,000 additional square feet of retail space available for development (see offering memorandum for details). This well-established shopping center offers a strong, sustainable income with significant upside potential, making it an attractive investment for discerning buyers. The property is a Net Lease (NNN) with multi-tenancy.

Highlights

  • Trophy asset near the 215 freeway and Eastern Avenue.
  • Highly diversified shopping center with strong tenant mix.
  • Excellent location with high residential density.
  • High-traffic corner intersection.
  • 96% occupancy with significant upside potential.
  • New pylon signage currently under development.

Property Details for 8826-8878 Eastern Ave

Property type
Lifestyle centers, Power centers
Square Feet
75,995 SF
Year Built
1999
Buildings
6
Stories
1

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.0292843
Longitude
-115.1162048

FAQs

What type of property is this?
Lifestyle center - 75,995 SF Shopping Center, 7.13% Cap Rate
Where is the lifestyle center located?
The property is located at 8826-8878 Eastern Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $22,600,000.
What are key features of this property?
This property features: Trophy asset near the 215 freeway and Eastern Avenue.; Highly diversified shopping center with strong tenant mix.; Excellent location with high residential density.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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8826-8878 Eastern Ave
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