10620 Dean Martin DrLas Vegas, NV 89141
- Retail properties
- 7,381 SF
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
- Retail properties
- Property subtype
- Strip malls
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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