10620 Dean Martin DrLas Vegas, NV 89141

  • Retail properties
  • 7,381 SF
For Sale
$9,499,000 View listing

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
10620 Dean Martin Dr, Las Vegas, Nevada

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$48,336
$650,393
$1,350,420
$2,000,813
-
$1,858,266
$3,858,343
$5,716,609

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