Las Vegas Real Estate News
Local commercial real estate market posts strong gains
Local commercial real estate’s retail and industrial sectors posted strong gains in the third quarter while the office sector rose steadily. The local retail sector has seen its share of large deals this month with the sale of the Miracle Mile Shops at Planet Hollywood, reportedly for $1.1 billion. Net absorption was more than 408,000 square feet in the third quarter, which drove the vacancy rate down to 8.6 percent. Asking retail lease rates also moved up in the third quarter to $1.33 per square foot on a triple-net basis. Retail is also improving because of gains in the economy. THIS IS THE TIME TO PURCHASE RETAIL.
Major sports merchandiser comes to North Las Vegas
Multifamily sector sees increase in rents, occupancy rates
Top Commercial Pick
210 N Boulder Hwy, Henderson, 89015 -> VIDEO
| Property Details | |
|---|---|
| Price |
$1,366,000
|
| Building Size |
9,557 SF
|
| Lot Size |
30,492 SF
|
| Price/SF |
$142.93 /SF
|
| Property Type |
Retail
|
| Property Sub-type |
Free Standing Bldg
|
| Cap Rate |
8.34%
|
| Occupancy |
77%
|
| No. Stories |
1
|
| Tenancy |
Multiple
|
| Year Built |
2007
|
| Parking Ratio |
2.92 / 1,000 SF
|
The property consists of a single 9,557 +/- sq. ft. free standing retail building. It is one of five free standing retail buildings in the Lake Mead Gateway Plaza, with Albertson’ s as the anchor (NAP). Situated on 0.7 acres, the building was constructed in 2007 of wood frame on a reinforced concrete foundation, with a pitched roof. Three tenants occupy 77.4% of the space on NNN leases.
This Week’s Top Single Family Pick (3/2/1 $110k) – Needs about $18k in repairs
Here is the video: https://youtu.be/M0rCdB_2NN8
Property Management Software Change November 1st
We have selected Appfolio as the software management platform we will implement over the winter. Data will be ported over starting in October and November we will start operating with a few properties. Our goal is to have 100% of the properties operating under the new system by December 1st. December is the slowest part of the season so we will have time to educate our clients, tenants and staff. The software will be more reliable, easier for owners & tenants to use and save money. HOWEVER, there will be some hiccups so please hang with us during the holidays.
Building Rehab Almost Completed
We are only waiting for signage.
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