2975 Sunrise AveLas Vegas, NV 89101

Property Details for 2975 Sunrise Ave

Year built

2001

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.52 AC

Property size (Sq ft)

2,970 SF

Property type

Auto shops

APN

139-36-402-002

APU

13936402002

Description

This 2,970 sq ft industrial property in Las Vegas, NV (APN 139-36-402-002), is a fully leased core investment opportunity. Currently occupied by Nevada Auto Center under a modified lease with 2.6 years remaining until June 30, 2027, the property boasts a 5.92% cap rate and a strong NOI of $111,061. The lease includes annual rent bumps of 5%, ensuring consistent income growth. Situated on a 0.52-acre lot zoned M, the building features a 13-foot ceiling height, multiple car lifts, covered parking, and two secure 40-foot containers with shelving. Significant security features include a fully fenced yard with a security gate and surveillance cameras. An underground oil/water separator is also present. This property presents a compelling investment opportunity, further enhanced by the possibility of a portfolio purchase with an adjacent property. The property's prime location in Las Vegas, within an Opportunity Zone, adds to its appeal. The current tenant's established presence and the long-term lease provide stability and predictable returns. The extensive security measures and additional features, such as the covered parking and storage containers, contribute to the property's overall value and potential for future income growth. The inclusion of multiple vehicle lifts and the built-in oil/water separator are significant assets for an automotive repair business. The 5% annual rent increases provide a built-in hedge against inflation. This is a rare opportunity to acquire a well-maintained, high-performing industrial property in a desirable location.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1623

Longitude

-115.109

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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