4501- Paradise RdLas Vegas, NV 89169

Property Details for 4501- Paradise Rd

Year built

1987

Lot size

3.29 AC

Property size (Sq ft)

143,312 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 143,312 square foot retail center in Las Vegas, NV, presents a compelling investment opportunity. Boasting a prime location just one block from UNLV's campus and across from Virgin Hotels, this property benefits from high foot traffic and visibility. The 3.29-acre site features 11 tenants, including 7-Eleven, Dunkin', Subway, White Castle, Sbarro's Pizza, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all operating under 100% occupancy with NNN leases. The property offers a weighted average lease term of 6.2 years, minimizing near-term lease-up risk. Built in 1987 and renovated in 2015, the center includes 190 parking spaces and benefits from built-in rent bumps. The property's strong financial performance is reflected in its $49,000,000 asking price, $2,697,653 NOI, and a pro-forma cap rate of 5.5%. Located 1.2 miles from the Las Vegas Strip, this asset is strategically positioned to capitalize on the area's robust tourism and student population. The property's zoning is H-1, and its APN is 162-22-312-001. The net rentable square footage is 31,037, with a price per square foot of $341.91. This is a generational asset with significant upside potential.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1295

Longitude

-115.133

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