For Sale
$2,950,000

7 Water StHenderson, NV 89015

Downtown Henderson retail investment; redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use retail investment opportunity, Olsen Plaza, presents 7,521 square feet across two buildings situated on a 0.58-acre lot in vibrant Downtown Henderson, Nevada. The property, located at 7 S Water St, 89015, boasts a prime location at the gateway of Water Street, steps from Lake Mead Parkway and minutes from US 95 and the 215 Beltway. The property consists of six units within two single-story buildings, constructed in 1981, currently operating at 83.33% occupancy. The existing tenants are on month-to-month leases, presenting an opportunity for below-market rent increases. The Downtown Mixed Use (DX) zoning allows for flexible redevelopment options, making this an ideal property for owner-users seeking to combine their business with income generation from existing tenants. The three parcels (APN: 179-18-214-071, 179-18-213-001, 179-18-213-002) offer significant potential for future development in a rapidly growing area. The asking price is $2,950,000. This is a value-add investment with significant upside potential for both redevelopment and income generation.

Highlights

  • Mixed-use zoning allows for redevelopment or owner-occupancy.
  • 7,521 square feet on a 0.58-acre lot, encompassing two buildings across three parcels.
  • Excellent location at the Water Street gateway, near Lake Mead Parkway, US 95, and the 215 Beltway.
  • Two retail buildings with multiple month-to-month tenants, offering below-market rents.
  • Ideal for owner-users seeking income generation and space utilization.
  • Prime redevelopment opportunity in a thriving area.

Property Details for 7 Water St

Property type
Retail properties, Mixed-use properties
Square Feet
7,521 SF
Year Built
1981
Buildings
2
Stories
1
Lot Size (sq. ft)
25,265 SF
Units
6

Location Insight

City
Henderson
County
Clark
State
Nevada
Latitude
36.035913
Longitude
-114.986019
7 Water St, Henderson, Nevada

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7 Water St
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