3820 S Jones-FreeStanding STNL 6.51% CAP Las Vegas SouthWest
Ideal 1031NNN | 6.35%CAP | 13,840SF | Long-term Lease - $289PSF | SouthWest | Possible Owner Occuppy
Marketing description
PLEASE DO NOT DISTURB TENANT. Contact Broker for possible options to relocate Tenant for owner occupancy.
Rarely find freestanding, one-story, +/-13,840-square-foot, well-maintained contemporary-style office/medical building. 3820 S Jones is sited on one acre, zoned CG for general commercial. No associations fees; extremely low annual expense at $3.0 PSF (paid by Tenant). Located on just south of Spring Mountain Road, on the East side of S. Jones. Facing Jones with full building signage and excellent accessibility and visibility from Jones.
The +/-13,840-building is customizable and fully occupied by a single tenant Progressive Choices (PCI) as a vocational training center. PCI was established in 1997 and has been proving vocational training and job coaching in Clark County. Long-term lease with ~7 years remaining with annual rent bump. Below market lease rate with room for future growth. Tenant website:
https://progressivechoices.org/about/
No associations. Low expense ratio.
3820 S Jones Boulevard is conveniently located in the center of town with bus stop nearby and only 3 miles to the strip. It's located on S Jones Boulevard between West Flamingo Road and West Spring Mountain Road. This building provides excellent visibility on S Jones Boulevard and is situated on a heavily trafficked road. Businesses will benefit from incredible access to the Las Vegas Strip, a 5-minute drive from 3820 S Jones Boulevard. Boasting superior highway connectivity, Interstate 15, Nevada 159/W Charleston Blvd, and Interstate 215 are approximately three miles from the property. This freestanding building is near medical tenants such as the Spring Valley Medical Center, a six-minute drive away. Southwest Las Vegas is full of charming suburban neighborhoods boasting mountainous views and an escape from the hustle and bustle of the Las Vegas Strip. 3820 S Jones Boulevard sits in the Spring Valley residential neighborhood, where commuting is a breeze, and retail hotspots are found on every corner. Well-maintained, with incredible accessibility,
Investment highlights
- Possible to relocate tenants for owner occupied buyers
- Single tenant NNN lease with minimum landlord responsibilities
- Stable long-term 10-year lease with ~7 years remaing plus one 5-year option
- In-place 6.51% CAP with 3% annual rent bumps
- Standalone building No Association fees
- Centrally located in Southwest Las Vegas area near the advantageous Las Vegas Strip in a 5-minute drive.
- Ideally situated at 3820 S Jones Blvd close to Flamingo Rd and Spring Mountain Rd..
- Freestanding and well-maintained totaling 13,840 SF with customizable spaces, and multiple entries on each side
- Excellent visibility with direct access to the property with two entrances on S Jones Boulevard
- Featuring a contemporary styled office or medical building
- Extremely low expense ratio (paid by tenant) for NNN lease
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