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

Fanatics will be hiring 150 full-time employees to help with more than 300 online and offline stores, including the e-commerce business for all major professional sports leagues and three major media brands — CBS Sports, FOX Sports and NBC Sports.

Multifamily sector sees increase in rents, occupancy rates

Las Vegas’ multifamily sector is expected to experience growth in average rents and occupancy rates through the end 2016 due to growing employment numbers and an increasing population in the valley. We are encouraging our investors who have low income multi family properties to unload these over the next few years.

Top Commercial Pick

210 N Boulder Hwy, Henderson, 89015 ->  VIDEO 

Property Photo
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

GetMedia2.jpg 


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
Building Rehab14469533_10210559174716445_847281674219123024_n.jpgBuilding4.jpg
We are only waiting for signage.

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