3001 Sahara AveLas Vegas, NV 89102

Property Details for 3001 Sahara Ave

Year built

1975

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.60 AC

Property size (Sq ft)

2,520 SF

Property type

Turn key restaurants

APN

162-08-104-009

APU

16208104009

Description

This exceptional investment opportunity presents a fee-simple interest in a 2,870-square-foot freestanding retail building, currently operating as a restaurant. Located at the signalized intersection of Sahara Avenue and Richfield Boulevard, this property benefits from high visibility and exceptional daily traffic exceeding 50,000 vehicles. The building, constructed in 1975 and extensively renovated in 2019 (including HVAC and electrical systems), sits on a 0.6-acre lot and includes 30 parking spaces, pylon signage, and convenient bus line access. The property is zoned C-1, Las Vegas. The current tenant, Mi Ranchito Restaurant, is in the sixth year of a ten-year lease with a three-year renewal option. The lease includes a rent escalation scheduled for October 2025, projecting a Net Operating Income (NOI) of $120,300, increasing by 3% annually thereafter. To ensure a smooth transition, the seller will provide a rent credit to compensate for any income shortfall until the October 2025 rent increase. The current NOI is $119,405, resulting in a 6.00% cap rate. The asking price is $1,990,088, translating to $693.41 per square foot. This prime location, just 1.5 miles west of the Las Vegas Strip, offers significant potential for long-term growth and strong returns. An adjacent building is also available for purchase, presenting an opportunity to expand the investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $801,508

  6.5%

  $739,854

  7%

  $687,007

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,272,303

  Geo Method

  $1,272,303

• Alternative Use

  Use

  Valuation

  Residential

  $624,094

  Hospitality

  $571,667

  Educational

  $475,620

  Medical

  $491,977

  Retail

  $739,854

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.144

Longitude

-115.182

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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