$16,250,000
MonteLago Village
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 56,069
Cap Rate 7.88%
NOI $1,280,035
Occupancy 91.04%
Tenancy Multi
Class A
Year Built 2003
Zoning CT
Ground Lease No
Premier Retail Shopping Center | 11.62% Year 2 COC | $212,119 AHI | Lake Las Vegas, NV
Marketing description
As the exclusive agent, Gallelli Real Estate is pleased to present the sale of the fee simple interest in Montelago Village retail shopping center, a 56,069 square foot center located at 10 Costa Di Lago, Henderson, Nevada 89011.
This asset represents the opportunity to acquire a premier shopping and dining destination within a luxurious master planned community. The combination of tenancy, location, and demographics offers an investor the ability to acquire a proven investment which is well-positioned to take advantage of Henderson's continuing growth.
Investment highlights
- Dominant Market Position - In a 5-mile radius, the Property is one of the only sources of major retail in the market. With over 45,000 people in this radius, MonteLago Village serves as a hub for resident dining, shopping and entertainment.
- Internet Resilient Tenant Mix - Almost every tenant within the offered asset is service oriented and will have a high resilience to the growing ecommerce industry creating a secure tenant base within a highly attractive center
- Substantial Income Growth Potential - The Property currently has ±5,022 square feet available for lease; the next owner will have the opportunity to capitalize on this upside by leasing up the remaining vacancy providing ±$189,000 in additional rental income potential and recoveries, annually. Nearly every current tenant has rental escalations throughout their base term, as well as option periods. This all provides significant rental income growth, taking the Year-1 Yield from 7.37% to 9.31% in Year-5.
- Lake Las Vegas Community's Expanding Residential - The Property is surrounded by growing residential within the 3,592-acre Lake Las Vegas Master Planned Community. There are seven new home communities, either recently completed or currently under construction, including a new Del Webb at Lake Las Vegas which is a 55+ community with 9 designs and over 460 homes.
- Top 5 Safest City in the Nation - Henderson, NV consistently ranks in the top 5 safest large cities in the United States, holding the #2 spot in 2020 and 2021, and the #3 spot in 2022 through AdvisorSmith. It ranked #3 in 2023 through MoneyGeek, #2 in 2024, and #4 in 2025. In addition, Henderson, NV consistently ranks as one of the top 50 best cities to live in America by Money Magazine.
- Affluent Demographics - The Property has an Average Household Income of $212,119 within a 1-mile radius.
Listing Contacts
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,280,035.00
$106,669.58/mo
Valuation Metrics
0
DSCR
7.88%
Cap Rate
7.88%
ROI
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