3220 Flamingo RdLas Vegas, NV 89121

Property Details for 3220 Flamingo Rd

Year built

1998

Construction

FRAME

Lot size

0.23 AC

Property size (Sq ft)

5,177 SF

Property type

Retail properties

Property subtype

Retail space

APN

162-13-812-001

APU

16213812001

Description

This exceptional retail investment opportunity, Renaissance III Retail Center, presents 124,934 square feet of vacant space within a 225,748-square-foot, six-building complex situated on 22.99 acres of land in Las Vegas, Nevada. Located at 3220 E Flamingo Rd, at the Northwest corner of Flamingo Road and Pecos Road, this Class B property boasts a prime location with combined daily traffic counts exceeding 62,200 vehicles. The property features a diverse tenant mix, including the Department of Health and Human Services, WIC Nevada, Planet Fitness, AT&T, Panda Express, Ichabod's Lounge, and ChagaRoot. Spaces range from a minimum of 550 square feet to a maximum contiguous space of 60,560 square feet, ideal for a variety of retail uses. Built in 1987, the single-story buildings offer 42 total suites, with flexible options for end cap, inline, strip center, anchor, and pad tenants. The property is zoned CM and CG, and its location benefits from proximity to the Las Vegas Strip, UNLV, and Harry Reid International Airport, serving a dense residential population of approximately 465,278 residents within a 5-mile radius, boasting an average household income of $67,267. The property's Assessed Parcel Numbers (APN) are 162-13-812-001, 002, 003, 004, 005, 006, and 009. This is a remarkable opportunity to acquire a well-positioned retail center in a thriving Las Vegas submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $1,504,733

  6.5%

  $1,388,984

  7%

  $1,289,771

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,613,774

  Geo Method

  $2,613,774

• Alternative Use

  Use

  Valuation

  Residential

  $1,171,660

  Hospitality

  $1,073,234

  Educational

  $892,918

  Medical

  $923,627

  Retail

  $1,388,984

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1155

Longitude

-115.105

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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