3260 Lamb BlvdLas Vegas, NV 89115

Property Details for 3260 Lamb Blvd

Year built

2023

Property size (Sq ft)

238,516 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

This exceptional investment opportunity presents two Class A distribution buildings totaling 238,516 square feet, situated in the highly desirable North Las Vegas submarket. Built in 2023, these buildings boast state-of-the-art features including 32-foot ceilings and 56 dock-high doors. One building, a 166,486 square foot cross-dock facility, is currently available for lease, while the second, a 72,030 square foot building, is 100% leased to a mission-critical tenant, Vesta Food Service, providing immediate cash flow. The property benefits from a premium location, just seven minutes from Interstate 15, offering excellent access to major transportation routes serving the Western United States. The location also provides proximity to a significant population base, exceeding 2.3 million people within a 25-mile radius. The property features ample truck courts (130-190 feet), excellent drive-around capability, and multiple ingress/egress points. The buildings are zoned IP and have a compelling basis relative to replacement cost, estimated at $269 per square foot. The North Las Vegas submarket exhibits strong demand, recording 70% of Las Vegas's net absorption year-to-date, with vacancy in the sub-200,000 square foot range significantly tighter than the market average. This property offers exceptional rent growth potential, with average annual rent growth exceeding 10.5% since 2020. The property consists of two buildings located at 3260 and 3360 N Lamb Blvd, Las Vegas, NV 89115, with APN 140-08-401-020. The current occupancy is 30%.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.2194

Longitude

-115.08

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