1020 Desert Inn RdLas Vegas, NV 89109

Property Details for 1020 Desert Inn Rd

Year built

1975

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.89 AC

Property size (Sq ft)

121,500 SF

Property type

High-rise multifamily apartments

APN

162-10-803-012

APU

16210803012

Description

This exceptional 1,470 square foot retail space is located on the ground floor of a fifteen-story, 113-unit apartment building at 1020 E Desert Inn Rd, Las Vegas, NV 89109. The property, situated on a 1.89-acre lot, offers a unique opportunity for a single-tenant retail business. Built in 1975, the building features one building with a single story of retail space and fifteen stories of residential units, providing a built-in customer base. The property includes an elevator. The Clark County Assessor's Parcel Number (APN) is 162-10-803-012. This location boasts high visibility and foot traffic, benefiting from its proximity to the Las Vegas Strip and the University of Nevada, Las Vegas (UNLV). A tenant improvement allowance may be available for qualified tenants. Estimated net operating expenses (NNNs) for 2023 are $0.50 per square foot, subject to change. This is a rare opportunity to establish a retail presence in a high-demand area with a captive audience. The property offers significant potential for growth and success.

• CAP approach

  CAP return

  Valuation

  6%

  $29,789,406

  6.5%

  $27,497,912

  7%

  $25,533,776

• Comparable approach

  Method

  Valuation

  Relative Method

  $37,730,912

  Geo Method

  $37,730,912

• Alternative Use

  Use

  Valuation

  Residential

  $27,497,912

  Hospitality

  $25,187,940

  Educational

  $20,956,070

  Medical

  $21,676,782

  Retail

  $32,598,332

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1303

Longitude

-115.141

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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