Las Vegas, Nevada · PRESENTED BY Chris Cunning Senior Vice President Investments Las Vegas, NV...

OFFERINGMEMORANDUM

Las Vegas, Nevada SANTA FE PLAZASMITH’S FOOD & DRUG STORE SHADOW ANCHORED CENTER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party

receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary

level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus &

Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property,

the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of

contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon,

or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not

verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters

and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must

take appropriate measures to verify all of the information set forth herein.

NON-ENDORSEMENT NOTICE

DISCLAIMER

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.

The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said

corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap,

and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

CONFIDENTIALITY

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

2SANTA FE PLAZA | 1411-1455 NORTH JONES BOULEVARD | LAS VEGAS, NV | REAL ESTATE INVESTMENT SERVICES

PRESENTED BYChris Cunning

Senior Vice President InvestmentsLas Vegas, NV 89169

Cell 702.378.0437 Office 702.215.7116

[email protected] NV S.0041074.LLC

SMITH’S FOOD & DRUG STORESHADOW ANCHORED RETAIL CENTER

SANTA FE PLAZA



TABLE OF CONTENTS

SANTA FE PLAZA

02 PROPERTY OVERVIEWProperty Details.............Market Aerial.................Site Plan.........................

03 FINANCIAL ANALYSISTenant Summary ...........Pricing Details ...............Operating Data................

04 MARKET COMPARABLESSummary.......................Map...............................Comps...........................

01 EXECUTIVE SUMMARYOffering Summary..........Investment Highlights....Site Description..............


01 EXECUTIVE SUMMARY

SANTA FE PLAZA 1411-1455 NORTH JONES BOULEVARD

LAS VEGAS, NV 89108

SANTA FE PLAZA HAS TWO BUILDINGS SHADOW ANCHORED BY SMITH’S FOOD & DRUG STORE


$5,615,000 8.43%

OFFERING SUMMARY

Offering Price $5,615,000

Year 1 Cap Rate 7.93%

Gross Leasable Feet 21,481 Sq Ft

Lot Size 1.84 AC

Year Built 1995

No. Of Buildings 2

No. Of Units 14

Occupancy 100.00%

Parcel # 13826515003/13826515006

OFFERING

SANTA FE PLAZA1411-1455 NORTH JONES BOULEVARDLAS VEGAS, NV 89108


Located in the Central West Las Vegas Retail

Submarket, the subject property is positioned

along busy North Jones Boulevard north and east

of Highway 95.

Smith’s Food & Drug Store Anchored

100% Occupied

Two Multi-Tenant Buildings

Absolute NNN Lease

National Tenants

Dense Population

High Traffic Visibility

Great Street Frontage

Excellent Signage

Hard Signalized Corner

High Traffic Counts North Jones Boulevard21,000 VPD

Smith’s Food & Drug Store Anchored

Excellent Signage and Street Visibility

Located in a densely populated area with 191,703 people living within a 3 mile radius

INVESTMENT


Nearly 100,000 jobs are forecast to be created through 2020, topping the national rate of growth.

Over the next five years the Las Vegas metro’s population is expected to expand by 240,000 people, dramatically out-pacing the national growth rate.

POPULATION 1-Mile 3-Mile 5-Mile

2018 Total Population: 35,869 191,703 464,763

2023 Population: 39,050 208,318 504,884

Population Growth 2018-2023: 8.87% 8.67% 8.63%

Average Age: 35.10 37.30 38.90

HOUSEHOLD

HOUSEHOLDS

2018 Total Households: 11,956 68,819 171,251

HH Growth 2018-2023: 8.69% 8.57% 8.61%

Median Household Inc: $40,408 $43,639 $47,729

Average Household Size: 3.00 2.80 2.70

Average Household Vehicles: 2.00 2.00 2.00

HOUSING

Median Home Value: $148,223 $175,057 $209,877

Median Year Built: 1983 1988 1991

Source: Marcus & Millichap /Co-Star ™

191,7032018 POPULATION STATISTIC

3-Mile Radius

$175,057MEDIAN HOME VALUE

3-Mile Radius

$43,639MEDIAN HOUSEHOLD INCOME

3-Mile Radius

DEMOGRAPHICS


Marcus & Millichap is pleased to present to a qualified investor an

opportunity to acquire the Smith’s shadow anchored Santa Fe Plaza,

featuring two fully occupied buildings totaling 21,481 square feet located

on 1.84 acres. The first building consists of 5,481 sq ft with three long

term tenants including, national tenants, Papa Johns Pizza and Rent-A-

Center. The second building, 16,000 sq ft supports a mix of solid tenants

including H&R Block and Metro PCS, as well as a variety of local tenants

which serve the local demographics. The additional AT&T cell tower

located on the west side of the property brings additional value to the

property.

Strong street frontage along both North Jones Boulevard and West

Washington Street provide great visibility and high traffic counts of 21,000

VPD along North Jones Boulevard. The retail center is located within

the Central West Las Vegas retail submarket with a dense population of

191,703 people living within a 3-mile radius.

100% OCCUPIEDNNN LEASED

SITE


02 PROPERTYOVERVIEW


LAS VEGAS, NV 89108


Property Address 1411-1455 North Jones Boulevard | Las Vegas, NV 89108

Number Of Units 14

Number Of Buildings 2

Cell Tower 1

Year Built 1995

Lot Size 1.84 AC

Gross Leasable Area 21,481 Sq. Ft.

Type Of Ownership Fee

Occupancy 100.00%

PROPERTY

NORTH LAS VEGAS

NELLIS AFB

Interna�onal Airport

Na�onal Conserva�on Area

Downtown Las Vegas


AERIAL


POPEYES LOUISIANA KITCHEN

NOT A PART

ORCHIDSTOP & SHOPNOT A PART

MOBILENOT A PART

SMITH’S FOOD & DRUGS STORESNOT A PART

Lee Robbins DDSNOT A PART

SIGNAGE

AT&T Cel Tower

BUILDING 1

100 Papa John Pizza

101 Express Check Chase

102 Rent-A-Center

North Jones Boulevard 21,000 VPDVegas Drive 11,200 VPDWest Washington Avenue 11,000 VPD

TRAFFIC COUNTS

BUILDING 2

1431A Cristal Cleaner

1433B Eyebrow Threading

1435C China Garden

1443 Metro PCS

1445J Estrella Insurance

1447 TNT Nails

1449 Maktub Beauty Salon

1451M The Water Company

1455 H&R Bock

AT&T Cell Tower


[ BUILDING 1 ]

[ BUILDING 2 ]

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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 obtained from 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 the recorded documents for more detailed legal information.

MA

P LE

GE

ND

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

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 5/22/2013

T20S R60E 26 N 2 NE 4 138-26-5

31

30

19

1

1314

121110987

6 5 4 3 2

3635343332

29 28 27 26

24

25

23222120

18 17 16 15

BOOK

SEC.

MAP

2

3

4

5

6

7

8

1

2

3

4

51

8

7

5

6

4 8

200

PARCEL BOUNDARYSUB BOUNDARY

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

CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL

124126 125

138137 139

161162163164

123

140

Michele W. Shafe - Assessor



LAS VEGAS, NV 89108

03 FINANCIALANALYSIS


TENANT

TENANT SUITE SQ. FT. % GLA COMM. EXP. RENTPER SF

RENTMONTHLY.

RENTYEARLY

RENT VACANT

OCCUPIED MO.EXP. REIMBM

VACANT MO.EXP. REIMBM

CHANGES ON

RENT INCREASE

LEASE TYPE OPTIONS

Papa Johns Pizza 100 1,339 6.23% 1996 2021 $2.70 $3,611 $43,337 $0.00 $ 605 $0 --- --- NNN 1-5 Year

Express Check Chase 101 1,339 6.23% 1997 2019 $2.79 $3,742 $44,901 $0.00 $ 545 $0 --- --- NNN 1-5 Year

Rent-A-Center 102 2,803 13.05% 1996 2023 $1.86 $5,225 $62,703 $0.00 $1,115 $0 --- --- NNN 1-5 Year

Cristal Cleaner 1431 (A) 1,540 7.17% 2017 2020 $1.45 $2,240 $26,880 $0.00 $ 475 $0 9/1/2018 3.00% NNN 1-5 Year

Eyebrows Threading 1433 (B) 1,210 5.63% 2016 2019 $1.35 $1,634 $19,602 $0.00 $ 400 $0 6/1/2018 3.00% NNN N/A

China Garden 1435 (C ) 1,210 5.63% 2017 2022 $1.36 $1,651 $19,812 $0.00 $ 520 $0 8/1/2019 5.00% NNN 1-5 Year

Dollar Store 1437 (D, E, F, G) 3,905 18.18% 2018 2022 $1.05 $4,100 $49,203 $0.00 $1,190 $0 --- --- NNN ---

Metro PCS 1443 1,210 5.63% 2011 2022 $1.54 $1,865 $22,378 $0.00 $ 380 $0 1/1/2019 5.00% NNN 1-3 Year

Estrella Insurance 1445 (J) 1,045 4.86% 2012 2020 $1.79 $1,868 $22,416 $0.00 $ 380 $0 4/1/2019 $1,609 NNN N/A

TNT Nails 1447 1,045 4.86% 1995 2020 $2.33 $2,432 $29,178 $0.00 $ 400 $0 --- --- NNN N/A

Maktub Beauty Salon 1449 1,210 5.63% 2015 2021 $1.59 $1,927 $23,124 $0.00 $ 410 $0 8/1/2019 3.00% NNN N/A

Smoke Shop 1451 (M) 1,430 6.66% 2017 2020 $1.92 $2,750 $33,000 $0.00 $ 440 $0 --- --- NNN N/A

The Water Co. 1453 (N) 825 3.84% 1996 2020 $1.75 $1,440 $17,280 $0.00 $ 350 $0 --- --- NNN N/A

H&R Block 1455 (P) 1,370 6.38% 1996 2020 $1.76 $2,405 $28,860 $0.00 $ 420 $0 --- --- NNN 1-3 Year

AT&T Tower --- --- --- 2006 2036 --- $2,570 $30,838 $0.00 --- $0 2/1/2019 3.00% NNN N/A

Total 21,481 100.00% $35,119.74 $421,437 $50,861 6,440.00 $1,190.00Total Vacant 0 Units Unoccupied GLA: 0 0.00% Annual Rent Vacant $ 0 Annual Expense Reimb. Vacant $ 0

Total Occupied 14 Units Occupied GLA: 21,481 100.00% Annual Rent Occupied $ 473,512 Annual Expense Reimb. Occupied $ 91,560

TOTAL 14 Units Total GLA: 21,481 100.00% Total Annual Rent $ 473,512 Total Annual Expense Reimbursement $ 91,560


7/6/2009

4/1/2012

12/27/2014

9/22/2017

6/18/2020

3/15/2023

12/9/2025

9/4/2028

6/1/2031

2/25/2034

11/21/2036

8/18/2039


OPERATING

INCOME CURRENT YEAR 1

Scheduled Base Rental Income $473,512 $473,512

CAM Reimbursement Income $91,560 $91,560

Sign Reimbursement Income $0 $0

Potential Gross Revenue $565,072 $565,072

General Vacancy 0.00% $0 5.00% ($28,254)

Effective Gross Revenue $565,072 $536,818

Less: Operating Expenses ($91,560) ($91,560)

Net Operating Income $473,512 $445,258

Tenant Improvements $0 $0

Leasing Commissions $0 $0

Capital Expenditures $0 $0

Cash Flow $473,512 $445,258

Debt Service ($236,338) ($236,338)

Net Cash Flow After Debt Service 10.56% $237,173 9.30% $208,920

Principal Reduction $80,275 $80,275

Total Return 14.13% $317,449 12.88% $289,195

OPERATING EXPENSES CURRENT YEAR 1

Real Estate Taxes $24,088 $24,088

Insurance $7,000 $7,000

CAM $42,472 $42,472

Management Fee $18,000 $18,000

Total Expenses $91,560 $91,560

Expenses/SF $4.26 $4.26


PRICING

PRICE $5,615,000

Down Payment $2,246,000

Down Payment % 40%

Number of Suites 14

Price Per Sq Ft $261.39 / Sq Ft

Gross Leasable Area (GLA) 21,481 Sq Ft

Lot Size 1.84 Acres

Year Built 1995

Occupancy 100.00%

RETURNS CURRENT YEAR 1

CAP Rate 8.43% 7.93%

Cash-on-Cash 10.56% 9.30%

FINANCING 1ST LOAN

Loan Amount $3,369,000

Loan Type New

Interest Type 5.00%

Amortization 25 Years

Year Due 7 Years

MARKET LOAN 1ST LOAN

Interest Rate 5.00%

Amortization Period 300

Months of Interest Only 0

Annual Loan Constant 7.02%

Loan Term 25 Years

Loan to Value 60.00%

Loan Amount $3,369,000

Down Payment $2,246,000



LAS VEGAS, NV 89108

04 MARKETCOMPARABLES


Santa Fe PlazaLake MeadGateway

Plaza

SilveradoRanch Plaza

TropicanaMarketplace

ParadiseMarketplace

EastwindCenter

Series2 $261.39 $167.37 $164.72 $216.33 $201.93 $252.18Series1

0

50

100

150

200

250

300

Average Median Price / Sq Ft

$210.65

Property Name Address City, State Sale Price GLA Price / Sq Ft

Santa Fe Plaza 1411-1455 N. Jones Blvd. Las Vegas, NV 89108 $5,615,000 21,481 Sq Ft $261.39

Lake Mead Gateway Plaza 190 N. Boulder Hwy. Henderson, NV 89015 $9,750,000 58,254 Sq Ft $167.37

Silverado Ranch Plaza 9890 S. Maryland Pkwy. Las Vegas, NV 89183 $25,332,609 153,791 Sq Ft $164.72

Tropicana Marketplace 6150-6160 W. Tropicana Ave. Las Vegas, NV 89103 $15,000,000 69,338 Sq Ft $216.33

Paradise Marketplace 3810-3870 E. Flamingo Rd. Las Vegas, NV 89121 $15,750,000 77,997 Sq Ft $201.93

Eastwind Center 2381 E. Windmill Ln. Las Vegas, NV 89123 $12,165,000 48,240 Sq Ft $252.18


1

2

4

3

Interna�onal Airport

Colorado River

Las Vegas Resort Strip

Downtown Las Vegas

Na�onal Conserva�on Area

Las Vegas Conven�on Center

5


LAKE MEAD GATEWAY 190 N. Boulder Hwy.Henderson, NV 89015

SA L E P R I C E $9,750,000

Sale Date 9/21/2017

Year Built 2005

GLA 58,254 SF

Lot Size 5.55 AC

Cap Rate N/A

Price Per SF $167.37

T E N A N T

Albertsons, Starbucks, Sav-on Pharmacy, Wells Fargo Bank,

Carpet Cleaning Henderson

1

T E N A N TS

Smith’s Food & Drug Store, Planet Fitness, Santa’s Wrap, Al

Phillips, Choice Dental, Leslie’s Swimming Pool Supplies, Thai

House, Con Arts Antiques, Kanian, Advent Cleaners, All Hallows

Eve, JR Cook LLC, The UPS Store, Reflexology Foot Spa

SILVERADO RANCH PLACE9850 S. Maryland Pkwy.Las Vegas, NV 89183

SA L E P R I C E $31,000,000

Sale Date 9/7/2018

Year Built 2001

GLA 188,197 SF

Lot Size 12.86 AC

Cap Rate 7.88%

Price Per SF 164.72

2SANTA FE PLAZA1411-1455 N. Jones Blvd.Las Vegas, NV 89108

O F F E R I N G P R I C E $5,615,000

Year Built 1995

GLA 21,481 SF

Lot Size 1.84 AC

Year 1 Cap Rate 7.93%


T E N A N T

Papa Johns Pizza, Express Check Chase, Rent-A-Center, Cristal

Cleaner, Eyebrows Threading, China Garden, Metro PCS, Estrella

Insurance, TNT Nails, Matkub Beauty Salon, Smoke Shop, The

Water Co., H&R Block, AT&T Cel Tower

SALESCOMPARARABLES


EASTWIND CENTER2381-2355 E. Windmill Ln.Las Vegas, NV 89123

T E N A N TS

Cortiva Institute, Paradise Nail Bar, Little Havanna Cafe &

Smokeshop, Body & Brain Yoga, Olga’s Grooming Salon, Great

Clips, Metro PCS, JC Cellphone Repair, Amazing Eyebrows, H&R

Block, Chopstix, GNC, IDK Craft & Pizza Kitchen

5

SA L E P R I C E $12,165,000

Sale Date 3/29/2018

Year Built 1998

GLA 42,240 SF

Lot Size 4.9 AC

Cap Rate 7.65%


TROPICANA MARKETPLACE6150-6160 W. Tropicana Ave.Las Vegas, NV 89103

T E N A N TS

Family Dollar Store, Rent A Center, Pearle Vision, Pacific Dental,

IEG Holdings Corporation, Japanese Restaurant, Golden Trade,

818 Fashions, X Cell Communications, Isaac’s One Stop, All Your

Skin & Body Care, Lilly, Bg Bistro

3

SA L E P R I C E $15,000,000

Sale Date 4/27/2018

Year Built 1988

GLA 69,338

Lot Size 6.59 AC

Cap Rate 7.50%


PARADISE MARKETPLACE3810-3870 E. Flamingo Rd.Las Vegas, NV 89121

SA L E P R I C E $15,750,000

Sale Date 2/28/2018

Year Built 1988

GLA 77,997 SF

Lot Size 6.49 AC

Cap Rate 8.65%


T E N A N TS

Las Vegas Athletic Clubs, Dollar Tree, Go Wireless Verizon,

Cosmic Comics Supercuts, Golden China, French Style Dry

Cleaners, Capriotti’s Sandwich Shop, GNC, Discount Cigarettes &

More, Cash Oasis

4

SALESCOMPARARABLES

3800 Howard Hughes Parkway | Suite 1550Las Vegas, NV 89169 | 702.215.7100

SANTA FE PLAZASMITH’S FOOD & DRUG STORESHADOW ANCHORED RETAIL CENTER

CHRIS CUNNING

Dir: 702.215.7116Cel: 702.378.0437Fax: 702.215.7110Lic: NV S.0041074.LLCchris.cunning@marcusmillichap.comwww.ChrisCunningMMREIS.com

SENIOR VICE PRESIDENT INVESTMENTSDirector National Retail Group

EXCLUSIVELY OFFERED BY:

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