10620 Dean Martin DrLas Vegas, NV 89141

Property Details for 10620 Dean Martin Dr

Year built

2019

Construction

FRAME

Lot size

2.37 AC

Property size (Sq ft)

7,381 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

177-32-111-001

APU

17732111001

Description

This exceptional 21,007 square foot multi-tenant retail center in Las Vegas, Nevada presents a compelling investment opportunity. Built in 2019, the property boasts four single-story buildings situated on a 2.37-acre lot (APN 177-32-111-001) and zoned U-V. Currently operating at 90% occupancy, the center generates a substantial NOI of $629,044, representing a 6.60% cap rate. The asking price is $9,499,000 ($452.18/sq ft). The property benefits from a Net Lease (NNN) structure with multi-tenancy, including a diverse mix of established businesses such as medical, dining, and self-care services. Strategically located near Harry Reid International Airport, off-strip resorts, and Interstate 15, the center enjoys convenient access and high visibility. Its proximity to the Keller Cactus Hills luxury apartment complex (210 units) and the Southern Highlands master-planned community ensures a strong customer base within a highly affluent neighborhood with average household incomes exceeding $100,000 within a one-mile radius. The property's new construction minimizes future capital expenditures, and long-term warranties are in place for major systems. A potential future exit strategy exists through parcelization of the four buildings. This is a rare opportunity to acquire a high-performing, well-located retail center with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,595,824

  6.5%

  $3,319,222

  7%

  $3,082,134

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,726,534

  Geo Method

  $3,726,534

• Alternative Use

  Use

  Valuation

  Residential

  $2,799,888

  Hospitality

  $2,564,682

  Educational

  $2,133,785

  Medical

  $2,207,170

  Retail

  $3,319,222

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

35.9962

Longitude

-115.183

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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