3691 Las Vegas Blvd N, Las Vegas, NV 89115

LINK TO OM: https://logiccre.com/1031_properties/3691-n-las-vegas-blvd-las-vegas-nv-89115/

RARE LAND WITH EXISTING INCOME AND ADDITIONAL VALUE-ADD OPPORTUNITY: The Property consists of 2.73 acres and is ideal for outdoor storage, automotive repair and general retail service uses. Two long-term tenants—a truck repair company and a dumpster company—have operated at the Property for several years on month-to-month leases and collectively occupy ±40% of the site. The owner is in the process of converting the tenants to short-term lease agreements. In addition, the owner is negotiating three new leases with a granite company, an iron shop and another auto-related tenant. Based on current occupancy and projected new leases, the total annual modified gross rent is projected to be $243,000

FLEXIBLE ZONING: The Property is currently zoned Commercial General (CG) with a Business Employment (BE) Land Use. This allows for Commercial uses such as Outdoor Storage, Automotive, Retail, and Sales Services, etc. Due to its Business Employment Land Use, the Property can also be rezoned to Industrial via a Conforming Zone Change that would then open up this Property to several Industrial uses.

STRATEGIC LOCATION: The Property is located within 2 miles of Nellis Air Force Base along N. Las Vegas Blvd with excellent frontage. Access to Northbound and Southbound I-15 is easy for large vehicles and only minutes away at ±3 miles distance.

REDEVELOPMENT OPPORTUNITY: Due to the age of the existing buildings, this Property offers the opportunity for developers/investors to redevelop the Property to a higher and better use.

LINK TO OM: https://logiccre.com/1031_properties/3691-n-las-vegas-blvd-las-vegas-nv-89115/