10-18 W Pacific Avenue
Retail | 7.67% CAP | 16,214 SqFt
Marketing description
Hiltz Commercial Group is pleased to present The Pacific Center, a multi-tenant retail and service property located at 10-18 W Pacific Avenue in Henderson, Nevada, within the Downtown Water Street District. The property consists of approximately 15,413 rentable square feet and is situated near the intersection of Water Street and Lake Mead Parkway.
The center is currently 92% occupied by a diverse mix of retail, restaurant, and service tenants, generating approximately $382,256 in stabilized Net Operating Income. The tenant roster includes a variety of locally established businesses that serve the surrounding community and contribute to consistent activity at the property.
Since acquiring the property, ownership has invested significantly into improving the building through both structural upgrades and tenant improvements. Capital investments have included roof replacement, HVAC upgrades, exterior improvements, and interior renovations. Additionally, several tenants have completed substantial build-outs to accommodate restaurant and office operations, representing a meaningful commitment to the property.
The Pacific Center currently contains a limited amount of remaining vacancy, providing an investor with the opportunity to further increase income through leasing the remaining space.
The property benefits from its location within Downtown Henderson’s Water Street District, an area that has experienced continued revitalization and new investment over recent years. The district has evolved into a growing hub for restaurants, entertainment venues, and community events, driving activity and visibility for nearby businesses.
In addition, the property is located a short distance from Cadence, one of Henderson’s largest master-planned communities with more than 12,000 planned homes, which contributes to continued residential growth and demand for neighborhood retail and service businesses.
With its stabilized income, recent capital improvements, strong tenant investment, proximity to a growing residential base, and location within one of Henderson’s historic commercial corridors, The Pacific Center offers investors the opportunity to acquire a well-located retail asset with existing cash flow and additional upside potential.
Investment highlights
Stabilized retail asset generating $382K NOI, ideally situated in a prime location within Henderson’s revitalizing Water Street District.
Turnkey cashflow investment opportunity that will benefit from recent significant capital improvements and strong tenant investments.
Access to a dense, growing consumer base of over 677,000 affluent residents with direct exposure to an excess of 4,000 vehicles daily.
Positioned with quick access to Interstates 11 and 215, as well as proximity to numerous hotels, casinos, and sporting complexes.
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