1120 N. Nellis Boulevard, Las Vegas, Nevada...

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness. 1120 N. Nellis Boulevard - Freestanding Retail Building OFFERING MEMORANDUM VACANT FREE STANDING RETAIL BUILDING Potential Drive Thru Location - MJ Location Eligible 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110 Sun Commercial Real Estate, Inc.

Transcript of 1120 N. Nellis Boulevard, Las Vegas, Nevada...

Page 1: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail BuildingOFFERING MEMORANDUM

VACANT FREE STANDING RETAIL BUILDINGPotential Drive Thru Location - MJ Location Eligible 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110

SunCommercial Real Estate, Inc.

Page 2: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Roy FritzSenior Vice President

[email protected]

Jennifer LehrSenior Associate

[email protected]

Sun Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148

702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com

Jessica CegavskeVice President702-968-7321

[email protected]

ContaCts

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

Confidentiality & disClosure

SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro-forma is delivered only as an accommodation and neither the Seller, Broker , nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro-forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

Cathy Jones, CPA, SIOR, [email protected]

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

Investment SummaryProperty SummarySBA Lending QuotesProperty PhotosSurrounding AerialAssessor Parcel MapLas Vegas Valley Location Map

Location Overview Section 2

Las Vegas Retail & Northeast Las Vegas Submarket ReviewArea Demographics

Property Overview Section 1

table of Contents

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

investment summary

THE OFFERING

The Investment Services Group at Sun Commercial Real Estate has been exclusively retained to offer qualified investors the opportunity to acquire a ±9,180 square foot freestanding building. The Property is situated on 1.01 acres and located on N. Nellis Boulevard just south of E. Washington Avenue having the civic address of 1120 N. Nellis Boulevard, Las Vegas, NV 89110. The property includes an indoor showroom and enough land to add a drive thru. As of 2017, there are 429,384 residents within a 5-mile radius with an average household income of $50,479.

Asking Price:

Ownership:

Total Building Area:

APN: 140-28-314-037

Total Land:

Zoning: C-2

$2,385,000

Fee Simple

±9,180 SF ability to expand to ±11,980 SF

±1.01 Acres

INVESTMENT HIGHLIGHTS

• Dense Demographics of 429,384 residents within 5 miles - 56.6% Hispanic • Located within the sub-markets’ Dominate Retail Corridor with National Tenants including: Kroger (Smiths), Wal-Mart,

Goodwill, Ross and Target• 38,000+ Daily Traffic Counts• Opportunity to add a Drive Thru• Location eligible for marijuana dispensary or cultivation license with a use waiver from the adjacent residential property

owners• 10% Down SBA Financing Available - see page 7 for details• Option to purchase existing Competition Motors business ($1,120,000) with a 50% down payment and 50% Seller Car-

ry-back*

SUMMARY

*Sun Commercial Real Estate is only handling the real estate transaction. A potential buyer will deal directly with the business owner on the potential purchase of the business.

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

Property Location:

Property Description:

Assessor Parcel Number:

Site Size:

Building Size:

Parking Lot:

Construction Year:

Traffic Counts:

The subject property is located on N. Nellis Boulevard just south of E. Washington Avenue having the civic address of 1120 N. Nellis Boulevard, Las Vegas, NV 89110. The property offers direct access to Nellis Boulevard with strong traffic counts of ±38,000 cars per day. The Property is located within a large retail corridor with national tenants, including Smith’s, Wal-Mart, Goodwill, Ross, and Target to the south of the property. As of 2017, there are approximately 219,296 residents living within a three (3) mile radius and the average household income is $53,730.

The property consists of a single story free standing retail building with ±41 car parking lot and a indoor showroom, situated on ±1.01 acres. The rear of the building provides an additional 11 parking spaces with plans for an additional 2,800 SF. The property offers great visibility along N. Nellis Boulevard with easy access in and out of the property. According to Clark County Planning, the location at 1120 Nellis is eligible for a marijuana dispensary and cultivation license with a use waiver from the adjacent residential property owners.

140-28-314-037

± 1.01 Acres

± 9,180 SF with the ability to expand the rear of the building an additional ± 2,800 SF

± 41 spaces

2006

On Nellis Blvd., N. of Washington Ave.: ±38,000 CPD

ProPerty summary

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

sba lending Quotes

Wells Fargo Bank, N.A. -- SBA Lending

Roger UngerPhone Number: 702-247-5602Cell Number: 702-498-9530

Loan Type: SBA 7(a)

Owner Occupied Commercial Real Estate Financing

Date: 10/30/17Property Description: 9,180 Square Foot Commercial Building

Project Cost (estimates) Total

Project Cost $260 per sq ft 2,385,000 238,500

SBA Guarantee Fee 59,645 5,964

3rd Party Costs: appraisal, environmental, title, etc 7,300 730Total Project Cost $2,451,945 $245,194

Out of Pocket Cost as % of Total Project: 10.0%

Loan DetailsSBA 7(a) Loan Amount $2,206,750Loan Rate (locked for 25 years) 6.00%Loan Term (in years) 25

Monthly Payment $14,218

Monthly Occupancy Cost (P+I) $1.55 per sq ftAnnual Occupancy Cost (P+I) $18.59 per sq ft

· The above figures are for discussion purposes only and are subject to change. This is not an offer or commitment to lend.All credit decisions are subject to credit qualification

Prepared for: 1120 Nellis Blvd.

© 2015 Wells Fargo Bank, N.A. All rights reserved.

10/30/2017

Out of Pocket

Wells Fargo Bank, N.A. -- SBA Lending

Roger UngerPhone Number: 702-247-5602Cell Number: 702-498-9530

Loan Type: SBA 504Owner Occupied Commercial Real Estate Financing

Date: 10/30/17Property Description: 9,180 Square Foot Commercial Building

Project Cost (estimates) Total

Project Cost $260 per sq ft 2,385,000 238,500

Debenture Loan Fee 20,574 0Debenture Closing Fee 1,500 1,500Bank Loan Fee 11,962 11,962

3rd Party Costs: appraisal, environmental, title, etc 7,300 730Total Project Cost $2,426,335 $252,692

Out of Pocket Cost as % of Total Project: 10.4%

WFSBA SBA 504 CombinedLoan Details 1st DOT 2nd DOT Loans

Loan Amount $1,196,150 $977,494 $2,173,644Loan Rate (WF daily floating rate) 6.00% 4.60% 5.37%Loan Term (in years) 20 20Amortization Term (in years) 20 20

Monthly Payment $8,570 $6,237 $14,807

Monthly Occupancy Cost (P+I) $1.61 per sq ftAnnual Occupancy Cost (P+I) $19.36 per sq ft

· The above figures are for discussion purposes only and are subject to change. This is not an offer or commitment to lend.All credit decisions are subject to credit qualification

Prepared for: 1120 Nellis Blvd.

© 2015 Wells Fargo Bank, N.A. All rights reserved.

Out of Pocket

10/30/2017

Roger UngerBusiness Development OfficerOffice: 702-247-5602Cell: 702-498-9530

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

ProPerty Photos

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

ProPerty Photos

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

surrounding aerial

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The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

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TES

This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein.Information on roads and other non-assessed parcels may be obtainedfrom the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds,but only contains the information required for assessment. See therecorded documents for more detailed legal information.

MA

PLE

GE

ND

USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200 ' 02/09/2011

T20S R62E 28 N 2 SW 4 140-28-3

31

30

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NO

TES

This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein.Information on roads and other non-assessed parcels may be obtainedfrom the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds,but only contains the information required for assessment. See therecorded documents for more detailed legal information.

MA

PLE

GE

ND

USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200 ' 02/09/2011

T20S R62E 28 N 2 SW 4 140-28-3

31

30

19

1

1314

121110987

6 5 4 3 2

3635343332

29 28 27 26

24

25

23222120

18 17 16 15

BO

OK

SEC

.

MA

P

2

3

4

5

6

7

8

1

2

3

4

51

8

7

5

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4 8

340

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ROAD EASEMENTPM/LD BOUNDARY

HISTORIC LOT LINEMATCH / LEADER LINE

ROAD PARCEL NUMBERPARCEL NUMERACREAGE

PARCEL SUB/SEQ NUMBER

PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER

10010011.00

202PB 24-45

55

GL5

HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY

15

8 4

Rev:

TAX DIST

0 200 400 600 800100 SECTION LINE

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176

100 101 104102 103

124125

142141138 139

161162163

180179177 178

123 121122

158160159

181

140

Michele W. Shafe - Assessor

Page 12: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

las vegas valley loCation maP

Page 13: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

las vegas retail market review

8 CoStar Retail Statistics ©2017 CoStar Group, Inc.

Las Vegas � Third Quarter 2017

Las Vegas Retail MarketThird Quarter 2017 – Las Vegas

Las Vegas Retail Market

©2017 CoStar Group, Inc. CoStar Retail Statistics 9

General Retail Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 639 5,320,954 419,930 524,367 9.9% (24,989) 0 0 $12.39

Central West Las Vegas Ret 699 6,151,608 132,093 132,093 2.1% 41,720 6,061 171,600 $19.10

East Las Vegas Ret 306 2,089,723 47,122 47,122 2.3% 7,844 2,200 90,000 $20.36

North Las Vegas Ret 256 1,811,883 44,221 44,221 2.4% 62,601 7,000 25,559 $15.60

Northeast Las Vegas Ret 467 2,679,700 74,483 97,803 3.6% 141,240 0 0 $14.00

Northwest Las Vegas Ret 148 1,785,941 44,379 44,379 2.5% 29,320 0 0 $15.27

Outlying NE Clark Cnty Ret 77 930,609 33,536 33,536 3.6% 19,894 0 0 $13.00

Outlying NW Clark Cnty Ret 3 8,572 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 22 79,263 0 0 0.0% 0 0 8,320 $0.00

Resort Corridor Ret 318 3,650,096 197,562 197,562 5.4% 97,088 74,731 0 $26.24

Southeast Las Vegas Ret 522 5,054,116 205,113 207,417 4.1% 19,051 53,780 13,978 $16.05

Southwest Las Vegas Ret 282 2,685,931 108,133 108,133 4.0% 55,317 37,361 164,432 $25.24

West Las Vegas Ret 177 2,186,560 52,775 52,775 2.4% 44,031 0 0 $25.59

Totals 3,916 34,434,956 1,359,347 1,489,408 4.3% 493,117 181,133 473,889 $17.70

Source: CoStar Property®

Mall Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Ctrs Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 5 2,742,317 388,757 388,757 14.2% (177,997) 0 0 $15.62

Central West Las Vegas Ret 1 970,304 105,337 105,337 10.9% (99,687) 0 0 $16.50

East Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

North Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northeast Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NE Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NW Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Resort Corridor Ret 3 2,951,697 0 0 0.0% 9,000 0 0 $0.00

Southeast Las Vegas Ret 3 1,600,250 50,232 50,232 3.1% 18,070 0 0 $29.05

Southwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

West Las Vegas Ret 3 1,399,190 250,740 250,740 17.9% (13,416) 76,353 0 $28.27

Totals 15 9,663,758 795,066 795,066 8.2% (264,030) 76,353 0 $18.22

Source: CoStar Property®

Power Center Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Ctrs Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 1 622,029 92,263 92,263 14.8% 7,826 0 0 $12.00

Central West Las Vegas Ret 2 969,882 7,346 7,346 0.8% 2,934 0 0 $0.00

East Las Vegas Ret 2 895,687 40,811 40,811 4.6% 2,480 0 0 $14.30

North Las Vegas Ret 5 1,828,599 188,024 188,024 10.3% (2,773) 0 0 $16.71

Northeast Las Vegas Ret 1 350,554 4,000 4,000 1.1% 0 0 0 $0.00

Northwest Las Vegas Ret 3 1,301,218 57,864 57,864 4.4% (40,466) 0 0 $26.85

Outlying NE Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NW Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Resort Corridor Ret 1 959,065 33,531 33,531 3.5% 18,684 0 0 $0.00

Southeast Las Vegas Ret 5 2,147,965 83,153 83,153 3.9% 6,370 0 0 $24.19

Southwest Las Vegas Ret 4 3,186,679 85,378 87,778 2.8% 9,084 0 0 $21.44

West Las Vegas Ret 4 2,007,160 94,397 94,397 4.7% (4,611) 0 0 $22.42

Totals 28 14,268,838 686,767 689,167 4.8% (472) 0 0 $18.72

Source: CoStar Property®

Existing Inventory Vacancy

Existing Inventory Vacancy

Existing Inventory Vacancy

Figures at a Glance

10 CoStar Retail Statistics ©2017 CoStar Group, Inc.

Las Vegas � Third Quarter 2017

Las Vegas Retail MarketThird Quarter 2017 – Las Vegas

Las Vegas Retail Market

©2017 CoStar Group, Inc. CoStar Retail Statistics 11

Shopping Center Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Ctrs Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 155 6,944,509 801,242 912,202 13.1% 103,299 14,160 0 $14.30

Central West Las Vegas Ret 200 9,050,200 904,612 965,411 10.7% 99,244 0 0 $14.27

East Las Vegas Ret 56 2,516,114 197,100 209,900 8.3% 49,253 0 0 $15.83

North Las Vegas Ret 74 5,596,055 594,511 696,133 12.4% (99,666) 0 161,246 $19.36

Northeast Las Vegas Ret 89 3,645,910 399,582 448,264 12.3% (42,865) 0 0 $14.08

Northwest Las Vegas Ret 50 3,580,919 291,029 292,659 8.2% (16,211) 0 81,540 $19.77

Outlying NE Clark Cnty Ret 10 459,275 56,472 56,472 12.3% 30,591 0 0 $13.30

Outlying NW Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 3 146,296 51,000 51,000 34.9% 0 0 0 $0.00

Resort Corridor Ret 22 420,054 12,169 12,169 2.9% 31,537 16,464 0 $30.68

Southeast Las Vegas Ret 181 11,512,227 1,294,023 1,417,543 12.3% 94,885 19,012 35,743 $16.98

Southwest Las Vegas Ret 102 3,907,513 358,966 358,966 9.2% 94,969 91,370 0 $20.76

West Las Vegas Ret 81 4,799,884 461,756 463,106 9.6% (36,292) 0 0 $19.35

Totals 1,023 52,578,956 5,422,462 5,883,825 11.2% 308,744 141,006 278,529 $16.69

Source: CoStar Property®

Specialty Center Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Ctrs Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 1 182,863 0 0 0.0% 30,000 0 0 $0.00

Central West Las Vegas Ret 2 284,316 0 0 0.0% 0 0 0 $0.00

East Las Vegas Ret 1 10,000 0 0 0.0% 0 0 0 $0.00

North Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northeast Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NE Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NW Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 2 618,034 56,263 56,263 9.1% 8,273 0 0 $30.54

Resort Corridor Ret 3 1,194,078 143,688 143,688 12.0% 2,500 0 0 $18.90

Southeast Las Vegas Ret 2 574,108 48,408 48,408 8.4% (34,230) 0 0 $25.36

Southwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

West Las Vegas Ret 1 74,069 4,912 4,912 6.6% 1,500 0 0 $25.20

Totals 12 2,937,468 253,271 253,271 8.6% 8,043 0 0 $22.98

Source: CoStar Property®

Total Retail Market Statistics Third Quarter 2017

YTD Net YTD Under Quoted

Market # Blds Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 1,055 15,812,672 1,702,192 1,917,589 12.1% (61,861) 14,160 0 $14.03

Central West Las Vegas Ret 1,197 17,426,310 1,149,388 1,210,187 6.9% 44,211 6,061 171,600 $14.95

East Las Vegas Ret 487 5,511,524 285,033 297,833 5.4% 59,577 2,200 90,000 $16.22

North Las Vegas Ret 622 9,236,537 826,756 928,378 10.1% (39,838) 7,000 186,805 $18.58

Northeast Las Vegas Ret 690 6,676,164 478,065 550,067 8.2% 98,375 0 0 $14.05

Northwest Las Vegas Ret 386 6,668,078 393,272 394,902 5.9% (27,357) 0 81,540 $19.41

Outlying NE Clark Cnty Ret 98 1,389,884 90,008 90,008 6.5% 50,485 0 0 $13.21

Outlying NW Clark Cnty Ret 3 8,572 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 29 843,593 107,263 107,263 12.7% 8,273 0 8,320 $30.54

Resort Corridor Ret 384 9,174,990 386,950 386,950 4.2% 158,809 91,195 0 $25.03

Southeast Las Vegas Ret 1,268 20,888,666 1,680,929 1,806,753 8.6% 104,146 72,792 49,721 $17.85

Southwest Las Vegas Ret 664 9,780,123 552,477 554,877 5.7% 159,370 128,731 164,432 $21.89

West Las Vegas Ret 540 10,466,863 864,580 865,930 8.3% (8,788) 76,353 0 $20.52

Totals 7,423 113,883,976 8,516,913 9,110,737 8.0% 545,402 398,492 752,418 $17.15

Source: CoStar Property®

Existing Inventory Vacancy

Existing Inventory Vacancy

Existing Inventory Vacancy

Figures at a Glance

Page 14: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

northeast las vegas submarket review

20 CoStar Retail Statistics ©2017 CoStar Group, Inc.

Las Vegas – Third Quarter 2017

Las Vegas Retail MarketMarket Highlights – Class “A, B & C”

©2017 CoStar Group, Inc. CoStar Retail Statistics 21

Third Quarter 2017 – Las Vegas

Las Vegas Retail MarketMarket Highlights – Class “A, B & C”

N o r t h e a s t L a s V e g a s M a r k e t

Deliveries, Absorption & Vacancy Historical Analysis, All Classes

Source: CoStar Property®

Vacant Space Quoted Rental RatesHistorical Analysis, All Classes Historical Analysis, All Classes

Source: CoStar Property® Source: CoStar Property®

Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates

2017 3q 690 6,676,164 550,067 8.2% (25,695) 0 0 0 0 $14.05

2017 2q 690 6,676,164 524,372 7.9% 111,271 0 0 0 0 $14.04

2017 1q 690 6,676,164 635,643 9.5% 12,799 0 0 0 0 $14.00

2016 4q 690 6,676,164 648,442 9.7% (16,056) 1 5,500 0 0 $13.64

2016 3q 689 6,670,664 626,886 9.4% 11,235 0 0 1 5,500 $13.24

2016 2q 689 6,670,664 638,121 9.6% (552) 0 0 1 5,500 $13.66

2016 1q 689 6,670,664 637,569 9.6% 1,814 0 0 0 0 $13.02

2015 4q 689 6,670,664 639,383 9.6% 126,012 0 0 0 0 $13.07

2015 3q 688 6,653,664 748,395 11.2% 37,583 0 0 1 17,000 $12.40

2015 2q 688 6,653,664 785,978 11.8% 22,524 0 0 1 17,000 $12.58

2015 1q 688 6,653,664 808,502 12.2% (68,523) 1 815 0 0 $12.74

2014 4q 687 6,652,849 739,164 11.1% 112,281 2 8,150 1 815 $12.49

2014 3q 685 6,644,699 843,295 12.7% 22,570 0 0 3 8,965 $12.11

2014 2q 685 6,644,699 865,865 13.0% (3,436) 1 5,395 2 8,150 $11.89

2014 1q 684 6,639,304 857,034 12.9% (57,129) 0 0 1 5,395 $12.21

2013 4q 684 6,639,304 799,905 12.0% (22,877) 0 0 1 5,395 $12.41

Source: CoStar Property®

UC InventoryDelivered InventoryExisting Inventory Vacancy

(0.100)

(0.050)

0.000

0.050

0.100

0.150

2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

Delivered SF Absorption SF Vacancy

$12.40

$12.60

$12.80

$13.00

$13.20

$13.40

$13.60

$13.80

$14.00

$14.20

2016 1q 2016 3q 2017 1q 2017 3q

Dollars

/SF/Y

ear

0.00

0.10

0.20

0.30

0.40

0.50

0.60

0.70

2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q

Direct SF Sublet SF

Page 15: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail BuildingDemographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 1 mile radius Latitude: 36.18005

Longitude: -115.06208

Summary Census 2010 2017 2022Population 25,050 26,497 27,900Households 6,998 7,177 7,475Families 5,605 5,729 5,964Average Household Size 3.58 3.69 3.73Owner Occupied Housing Units 3,667 3,463 3,540Renter Occupied Housing Units 3,331 3,714 3,934Median Age 28.7 29.2 29.8

Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 1.04% 1.52% 0.83%Households 0.82% 1.40% 0.79%Families 0.81% 1.36% 0.71%Owner HHs 0.44% 1.39% 0.72%Median Household Income 0.68% 1.45% 2.12%

2017 2022 Households by Income Number Percent Number Percent

<$15,000 1,013 14.1% 1,081 14.5%$15,000 - $24,999 968 13.5% 988 13.2%$25,000 - $34,999 993 13.8% 949 12.7%$35,000 - $49,999 1,352 18.8% 1,318 17.6%$50,000 - $74,999 1,418 19.8% 1,343 18.0%$75,000 - $99,999 679 9.5% 831 11.1%$100,000 - $149,999 584 8.1% 741 9.9%$150,000 - $199,999 113 1.6% 148 2.0%$200,000+ 58 0.8% 77 1.0%

Median Household Income $40,477 $41,872Average Household Income $51,184 $56,724Per Capita Income $13,999 $15,338

Census 2010 2017 2022 Population by Age Number Percent Number Percent Number Percent

0 - 4 2,391 9.5% 2,431 9.2% 2,577 9.2%5 - 9 2,473 9.9% 2,348 8.9% 2,416 8.7%10 - 14 2,350 9.4% 2,290 8.6% 2,312 8.3%15 - 19 2,122 8.5% 2,200 8.3% 2,242 8.0%20 - 24 1,853 7.4% 2,199 8.3% 2,257 8.1%25 - 34 3,734 14.9% 4,053 15.3% 4,339 15.6%35 - 44 3,580 14.3% 3,443 13.0% 3,668 13.1%45 - 54 2,901 11.6% 3,053 11.5% 3,034 10.9%55 - 64 1,982 7.9% 2,279 8.6% 2,466 8.8%65 - 74 1,085 4.3% 1,488 5.6% 1,701 6.1%75 - 84 463 1.8% 571 2.2% 721 2.6%

85+ 119 0.5% 144 0.5% 166 0.6%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 11,911 47.5% 11,780 44.5% 11,713 42.0%Black Alone 2,489 9.9% 2,767 10.4% 2,950 10.6%American Indian Alone 251 1.0% 263 1.0% 271 1.0%Asian Alone 1,032 4.1% 1,133 4.3% 1,249 4.5%Pacific Islander Alone 199 0.8% 205 0.8% 215 0.8%Some Other Race Alone 8,126 32.4% 9,200 34.7% 10,271 36.8%Two or More Races 1,042 4.2% 1,149 4.3% 1,230 4.4%

Hispanic Origin (Any Race) 15,791 63.0% 17,556 66.3% 19,110 68.5%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 1 of 6

Demographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 1 mile radius Latitude: 36.18005

Longitude: -115.06208

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

<$15K14.1%

$15K - $24K13.5%$25K - $34K

13.8%

$35K - $49K18.8%

$50K - $74K19.8%

$75K - $99K9.5%

$100K - $149K8.1%

$150K - $199K1.6%

$200K+0.8%

2017 Population by Race2017 Population by Race

Perc

ent

40

35

30

25

20

15

10

5

0White Black Am. Ind. Asian Pacific Other Two+

2017 Percent Hispanic Origin: 66.3%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 2 of 6

area demograPhiCs (1 mile radius)

Page 16: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

area demograPhiCs (3 mile radius)Demographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 3 mile radius Latitude: 36.18005

Longitude: -115.06208

Summary Census 2010 2017 2022Population 203,107 219,296 234,043Households 61,087 64,520 68,313Families 45,425 47,656 50,337Average Household Size 3.30 3.38 3.41Owner Occupied Housing Units 33,605 32,839 34,312Renter Occupied Housing Units 27,482 31,681 34,001Median Age 30.1 30.8 31.7

Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 1.31% 1.52% 0.83%Households 1.15% 1.40% 0.79%Families 1.10% 1.36% 0.71%Owner HHs 0.88% 1.39% 0.72%Median Household Income 0.66% 1.45% 2.12%

2017 2022 Households by Income Number Percent Number Percent

<$15,000 8,516 13.2% 9,264 13.6%$15,000 - $24,999 8,839 13.7% 9,182 13.4%$25,000 - $34,999 9,485 14.7% 9,306 13.6%$35,000 - $49,999 11,408 17.7% 11,352 16.6%$50,000 - $74,999 11,832 18.3% 11,246 16.5%$75,000 - $99,999 6,978 10.8% 8,449 12.4%$100,000 - $149,999 5,157 8.0% 6,535 9.6%$150,000 - $199,999 1,487 2.3% 1,915 2.8%$200,000+ 818 1.3% 1,064 1.6%

Median Household Income $40,811 $42,184Average Household Income $53,730 $59,455Per Capita Income $16,174 $17,693

Census 2010 2017 2022 Population by Age Number Percent Number Percent Number Percent

0 - 4 18,403 9.1% 18,958 8.6% 20,310 8.7%5 - 9 17,798 8.8% 17,984 8.2% 18,906 8.1%10 - 14 17,374 8.6% 17,343 7.9% 18,308 7.8%15 - 19 17,689 8.7% 16,720 7.6% 17,174 7.3%20 - 24 15,270 7.5% 17,609 8.0% 17,048 7.3%25 - 34 29,228 14.4% 34,419 15.7% 37,745 16.1%35 - 44 28,749 14.2% 28,110 12.8% 31,135 13.3%45 - 54 25,285 12.4% 25,757 11.7% 25,476 10.9%55 - 64 17,602 8.7% 21,162 9.6% 22,609 9.7%65 - 74 9,926 4.9% 14,024 6.4% 16,221 6.9%75 - 84 4,607 2.3% 5,672 2.6% 7,351 3.1%

85+ 1,175 0.6% 1,538 0.7% 1,761 0.8%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 98,730 48.6% 98,968 45.1% 99,227 42.4%Black Alone 20,295 10.0% 23,570 10.7% 25,808 11.0%American Indian Alone 1,689 0.8% 1,787 0.8% 1,850 0.8%Asian Alone 10,166 5.0% 11,579 5.3% 13,078 5.6%Pacific Islander Alone 1,071 0.5% 1,142 0.5% 1,222 0.5%Some Other Race Alone 61,067 30.1% 70,704 32.2% 80,179 34.3%Two or More Races 10,090 5.0% 11,547 5.3% 12,679 5.4%

Hispanic Origin (Any Race) 116,596 57.4% 132,838 60.6% 147,078 62.8%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 3 of 6

Demographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 3 mile radius Latitude: 36.18005

Longitude: -115.06208

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

Perc

ent

16

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

<$15K13.2%

$15K - $24K13.7%$25K - $34K

14.7%

$35K - $49K17.7%

$50K - $74K18.3%

$75K - $99K10.8%

$100K - $149K8.0%

$150K - $199K2.3%

$200K+1.3%

2017 Population by Race2017 Population by Race

Perc

ent

45

40

35

30

25

20

15

10

5

0White Black Am. Ind. Asian Pacific Other Two+

2017 Percent Hispanic Origin: 60.6%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 4 of 6

Page 17: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.

1120 N. Nellis Boulevard - Freestanding Retail Building

area demograPhiCs (5 mile radius)Demographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 5 mile radius Latitude: 36.18005

Longitude: -115.06208

Summary Census 2010 2017 2022Population 396,442 429,384 458,635Households 124,905 133,029 141,459Families 85,445 90,144 95,514Average Household Size 3.10 3.15 3.17Owner Occupied Housing Units 60,729 59,666 62,629Renter Occupied Housing Units 64,176 73,363 78,829Median Age 31.6 32.4 33.0

Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 1.33% 1.52% 0.83%Households 1.24% 1.40% 0.79%Families 1.16% 1.36% 0.71%Owner HHs 0.97% 1.39% 0.72%Median Household Income 0.53% 1.45% 2.12%

2017 2022 Households by Income Number Percent Number Percent

<$15,000 21,292 16.0% 23,111 16.3%$15,000 - $24,999 19,565 14.7% 20,417 14.4%$25,000 - $34,999 19,994 15.0% 19,760 14.0%$35,000 - $49,999 23,003 17.3% 23,014 16.3%$50,000 - $74,999 23,152 17.4% 22,207 15.7%$75,000 - $99,999 12,594 9.5% 15,420 10.9%$100,000 - $149,999 9,066 6.8% 11,801 8.3%$150,000 - $199,999 2,650 2.0% 3,485 2.5%$200,000+ 1,703 1.3% 2,233 1.6%

Median Household Income $37,759 $38,768Average Household Income $50,479 $55,989Per Capita Income $16,342 $17,928

Census 2010 2017 2022 Population by Age Number Percent Number Percent Number Percent

0 - 4 34,422 8.7% 35,312 8.2% 37,884 8.3%5 - 9 32,484 8.2% 33,067 7.7% 34,688 7.6%10 - 14 30,964 7.8% 31,220 7.3% 33,053 7.2%15 - 19 32,046 8.1% 30,513 7.1% 31,557 6.9%20 - 24 29,886 7.5% 34,245 8.0% 33,731 7.4%25 - 34 57,494 14.5% 66,436 15.5% 72,415 15.8%35 - 44 55,682 14.0% 55,031 12.8% 60,207 13.1%45 - 54 50,656 12.8% 51,451 12.0% 50,955 11.1%55 - 64 37,275 9.4% 44,389 10.3% 47,238 10.3%65 - 74 21,919 5.5% 30,620 7.1% 35,588 7.8%75 - 84 10,696 2.7% 13,180 3.1% 16,859 3.7%

85+ 2,919 0.7% 3,921 0.9% 4,461 1.0%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 192,813 48.6% 194,097 45.2% 194,945 42.5%Black Alone 47,170 11.9% 54,740 12.7% 60,016 13.1%American Indian Alone 3,766 0.9% 4,031 0.9% 4,202 0.9%Asian Alone 19,641 5.0% 23,074 5.4% 26,492 5.8%Pacific Islander Alone 2,157 0.5% 2,341 0.5% 2,550 0.6%Some Other Race Alone 111,681 28.2% 128,932 30.0% 145,958 31.8%Two or More Races 19,214 4.8% 22,168 5.2% 24,472 5.3%

Hispanic Origin (Any Race) 213,677 53.9% 243,080 56.6% 268,953 58.6%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 5 of 6

Demographic and Income Profile1120 N Nellis Blvd, Las Vegas, Nevada, 89110 Prepared by EsriRing: 5 mile radius Latitude: 36.18005

Longitude: -115.06208

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

<$15K16.0%

$15K - $24K14.7%

$25K - $34K15.0%

$35K - $49K17.3%

$50K - $74K17.4%

$75K - $99K9.5%

$100K - $149K6.8%

$150K - $199K2.0%

$200K+1.3%

2017 Population by Race2017 Population by Race

Perc

ent

45

40

35

30

25

20

15

10

5

0White Black Am. Ind. Asian Pacific Other Two+

2017 Percent Hispanic Origin: 56.6%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

August 14, 2017

©2017 Esri Page 6 of 6

Page 18: 1120 N. Nellis Boulevard, Las Vegas, Nevada 89110images3.loopnet.com/d2/NrET2BeXEbgtKYS3cs-cAy1pJFI... · execution of a letter of intent or contract to purchase between the Seller

Roy FritzSenior Vice President

[email protected]

Jessica CegavskeVice President702-968-7321

[email protected]

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Jennifer LehrSenior Associate

[email protected]

Exclusively listed by Sun Commercial Real Estate, Inc.:

SunCommercial Real Estate, Inc.