3162 & 3164 N Las Vegas Blvd

Link to OM: https://logiccre.​com/1031_properties/3162-3164-n-las-vegas-blvd/

The Investment Services Group of LOGIC Commercial Real Estate has been exclusively retained to offer qualified investors the opportunity to acquire a ±16,460 SF multi-tenant, two-story automotive retail & service building along with a ±2,159 SF single-story retail building and a separate vehicle smog station located at 3162 & 3164 N.​ Las Vegas Blvd a northeast suburb of the Las Vegas MSA situated on a ±1.24 AC parcel.​

The Property is 100% occupied by five tenants: two mechanic shops, a tire shop, a wheel repair shop, and an automotive battery store with a vehicle smog station.​ All tenants have been at the Property since before 2014 and have recently signed new term leases.​ The Property is well situated on N.​ Las Vegas Blvd, northeast of N.​ Pecos Rd.​ which sees ±18,500 vehicles per day.​

Link to OM: https://logiccre.​com/1031_properties/3162-3164-n-las-vegas-blvd/

Link to OM: https://logiccre.com/1031_properties/3162-3164-n-las-vegas-blvd/

STABILIZED CASH FLOW: The Property is 100% occupied to a complimentary mix of automotive related tenants who have recently signed term NNN leases. The weighted average lease term remaining is 3.7 years.

EASE OF OWNERSHIP: The tenants are responsible for the maintenance, repair, and replacement of the nonstructural portions of the premises, all directly billed utilities, their liability insurance and to reimburse the Landlord for their share of common utilities, property taxes, property insurance, and management fees.

LONGEVITY OF TENANTS: All tenants have operated at the Property since before 2014 showing strong commitment to the site.

SIGNIFICANT RECENT CAPITAL IMPROVEMENTS: Over the past few months, the Property has seen substantial upgrades including new paint, a new pylon sign (currently under construction), replacement of all air conditioning units, added four swamp coolers to four units, replacement of twelve garage roll-up doors, remodel of a common area bathroom, and roof work to ensure there are no leaks.

STRATEGIC LOCATION: The Property is strategically located with ±180 ft. of frontage on N. Las Vegas Blvd. with a dense 3-mile population of ±166,124 giving it great exposure and access to a large customer base.

INCOME TAX-FREE STATE: Nevada has no state income tax.

Link to OM: https://logiccre.com/1031_properties/3162-3164-n-las-vegas-blvd/