Introducing a once-in-a-lifetime opportunity to own the hard corner of an intersection on the world-famous Las Vegas Strip.
As exceptional as it is rare, this opportunity includes institutional-grade income from its anchor, a 17,329 square foot Walgreens and a significant value-add component, at just 42% occupied.
37,499 square foot building on
Las Vegas Boulevard
37,499 SF building on
Las Vegas Boulevard
Introducing a once-in-a-lifetime opportunity to own the hard corner of an intersection on the world-famous Las Vegas Strip.
As exceptional as it is rare, this opportunity includes institutional-grade income from its anchor, a 17,329 square foot Walgreens and a significant value-add component, at just 42% occupied.
Introducing a once-in-a-lifetime opportunity to own the hard corner of an intersection on the world-famous
Las Vegas Strip.
As exceptional as it is rare, this opportunity includes institutional-grade income from its anchor, a 17,329 square foot Walgreens and a significant value-add component, at just 42% occupied.
THE GATEWAY TO A
new downtown
37,499 square foot building
Las Vegas Boulevard
Purchase Price:
Best Offer
Year 1 Net
Operating Income:
$2,469,000.00
Year 3 Pro Forma
Net Operating Income:
$3,512,000.00
Occupancy:
42%
Total Square Footage:
37,499 SF*
Square Footage Occupied:
17,329 SF
Square Footage Vacant:
20,170 SF
Parking Ratio:
4.24 : 1,000
This 1.82 acre parcel also includes a freestanding parking garage, additional income via electronic billboard contracts, a large upper deck patio, and one of the most valuable privilege licenses in the world, an unrestricted gaming license, for a defined area within the existing vacant space.
* 37,499 SF includes 2,023 SF of mezzanine space
42% Occupied |
Institutional Grade Income With Value-Add Component
Anchored by Walgreens on a long-term lease (through April, 2040).
Tremendous value-add potential with several vacancies to be leased.
Signalized, Hard-Corner Intersection | Large Electronic Billboard |
On World-Famous Strip
Parcel is the hard Northeast corner of the Las Vegas Strip intersection at Sahara Avenue, withnessing over 106,000 cars per day.
Large electronic billboard provides phenomenal exposure as well as an additional stream of income.
A patio with a view – second floor space includes a large wraparound patio that overlooks Las Vegas Boulevard.
Unique Assets Within Property | Multiple Aspects of Appreciation
A freestanding parking garage on the Las Vegas Strip in immediate proximity to major new attractions, such as the new City of Las Vegas Archway.
An unrestricted gaming license for portions of the second floor of the
vacant space.
Huge growth potential in both size
and revenue with the exterior electronic billboard.
Long-Term Growth Trajectory | Irreplaceable Real Estate | Hundreds of Millions
in Investment
80-foot City of Las Vegas Archway (finished November, 2020) to bring thousands of new pedestrians
to intersection every day.
$125 million in roadway improvements (currently underway) on Las Vegas Blvd. at Sahara proceeding north.
Request For Proposal out for several pedestrian bridges to be constructed at intersection.
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investment summary
Property Overview
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Site
Suite 110
2,156 SF
plus an additional
1,163 SF mezzanine space
Suite 110
Suite 120
Suite 110
mezzanine
Suite 120
mezzanine
Mezzanine Space
Junior Anchor space
13,162 SF
with an additional ±1,603 SF of patio;
includes elevator and escalator access.
Grandfathered Unrestricted Gaming License Suitability
(for a portion of the second floor).
First Floor
Second Floor
Patio Area
1,603 SF
Chris Clifford
+1 702 277 0390
chris.clifford@colliers.com
License # NV-S.0067842.PC
Steve Neiger, CCIM
+1 702 592 7187
steve.neiger@colliers.com
License # NV-S.0078706.LLC
Brett Rather
+1 702 575 1645
brett.rather@colliers.com
License # NV-S.0174245.LLC
Copyright © 2024 Colliers
Investment summary
Las Vegas Boulevard
Sahara Avenue
Las Vegas Boulevard
Sahara Avenue
download offering memorandum
Suite 120
2,829 SF
plus an additional
860 SF mezzanine space
Also listed For Lease at
$75 per square foot annually, NNN
Also listed For Lease at
$75 per square foot annually, NNN
Also listed For Lease at
$55 per square foot annually, NNN
Download Leasing Brochure
www.cnrretail.com
About Colliers
download
offering memorandum
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Leasing Brochure
