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2987 N Las Vegas Blvd.

Stabilized Flex Industrial / Retail Property With Yard

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Asking Price: $8,126,000

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2987 Las Vegas Blvd N, North Las Vegas, NV 89030

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Date Added
Feb 28, 2025
Days on Market
51 days
Time Since Last Update
45 days

Details

Property TypeIndustrial, Retail
SubtypeFlex, Storefront, Retail
Lease TypeAbsolute NNN
TenancyMulti
Number of Tenants2
Square Footage50,358
Cap Rate7.25%
Occupancy100%
NOI$589,200
Year Built1950
ZoningGeneral Commercial (C-2)
Lot Size (acres)3.8
APN139-13-506-005
Sale ConditionFor sale by owner
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Marketing Description

Colliers is pleased to exclusively offer for sale 2987 Las Vegas Boulevard North, a ±50,358 square foot flex industrial/retail asset situated on a ±3.8 acre site boasting 430 linear feet of frontage on Las Vegas Boulevard.​ Previously home to Supermercado del Pueblo, the property benefits from a new 5-year master lease backed by a proven operator and presents investors with a unique value-add opportunity through redevelopment and/or mark-to-market rent upside as the master lease expires.​ With its flexible zoning, prominent Las Vegas Blvd frontage and convenient access to major highways, the asset is well-positioned to serve a variety of commercial uses.​

Flexible Seller Financing Available - Contact broker for details

Investment Highlights

Stabilized Asset with Redevelopment and/or Mark-to-Market Rent Upside

  • The property benefits from a new Absolute NNN 5-year master lease backed by a proven operator

  • Value-Add Upside through redevelopment and/or mark-to-market rent upside upon expiration of the master lease

Versatile Redevelopment Potential

  • With its flexible zoning, prominent Las Vegas Blvd. frontage and convenient access to major highways, the asset is well-positioned to serve a variety of commercial uses including retail pads and/or industrial manufacturing/distribution

Strong Traffic, Excellent Visibility and Regional Access

  • The property features ±430 linear feet of prominent frontage on N. Las Vegas Boulevard and benefits from strong traffic counts exceeding ±39,900 VPD

  • Situated less than 2-miles from the I-15 (±186,000 VPD), the site offers convenient freeway access

Dynamic North Las Vegas Submarket Growth

  • The North Las Vegas submarket is experiencing robust expansion, fueled by increasing demand across retail, industrial, and logistics sectors along with nationally recognized population growth

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$589,200.00
$49,100.00/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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Additional Information
Broker Name
Deana Marcello
Broker License
NV NV 174174
Brokerage Name
Colliers
Broker Title
Executive Vice President
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