2300 Western AveLas Vegas, NV 89102

Property Details for 2300 Western Ave

Year built

1965

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.70 AC

Property size (Sq ft)

1,684 SF

Property type

Retail properties

Property subtype

Gas stations

APN

162-04-404-001

APU

16204404001

Description

This exceptional investment opportunity presents a thriving multi-tenant retail complex in Las Vegas, Nevada. The property encompasses a newly renovated 3,915 square foot building on a 0.7-acre lot, featuring a brand-new 76-branded fueling station with eight dispensers providing three grades of gasoline, on-road and off-road diesel, DEF, and propane. Completed in 2024, the property also includes a newly constructed 1,670 square foot building with two roll-up doors, designed to accommodate additional automotive-related businesses. Four drive-thru bays are also available, ideal for quick-lube or similar operations. The property boasts five tenants with a 95% occupancy rate, generating a strong net operating income (NOI) of $822,000 and a 11.83% cap rate. Two dedicated food/coffee truck spaces are projected to yield an additional $7,000 per month in revenue. The property is zoned M (Industrial) within a Las Vegas redevelopment area, potentially eligible for city incentives. Built in 1965 with renovations completed in 2024, this Class B property is offered at $6,950,000. Owner will consider owner-will-carry financing, ground lease, or lease-to-own options. The 2024-2025 real estate taxes are $5,412.36. The property's prime location, just north of West Sahara Avenue, east of US I-15, and with frontage on two well-traveled streets, ensures high visibility and accessibility. Included in the sale are the point-of-sale system, shelves, pumps, general lube equipment, propane tanks, cash register, underground fuel tanks, compressor, trash cans, receptacles, and dumpsters.

• CAP approach

  CAP return

  Valuation

  6%

  $584,136

  6.5%

  $539,202

  7%

  $500,688

• Comparable approach

  Method

  Valuation

  Relative Method

  $850,221

  Geo Method

  $850,221

• Alternative Use

  Use

  Valuation

  Residential

  $454,837

  Hospitality

  $416,628

  Educational

  $346,630

  Medical

  $358,551

  Retail

  $539,202

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1469

Longitude

-115.166

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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