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34019226
34019215

4889 E CRAIG RD, LAS VEGAS, NV 89115-1850 For Sale

MH
NV NV B.0145866 | CA 01824108, CA 01824108
Regency Realty Investments LLC
Listed by Regency Realty Investments LLC
$850,000
17 days on market
Updated 9 days ago

4889-4895 E Craig Rd - Commercial Corner - Las Vegas

Details
APN 14005702001
Property Type Retail
Sub Type Storefront, Shopping Center (+1)
Square Footage 6,654
Net Rentable (SqFt) 6,654
Units 4
Cap Rate 5.38%
NOI $45,741
Occupancy 64.17%
Tenancy Multi
Brand/Tenant Pep Boys
Lease Type Modified
Rent Bumps No
Pro-Forma Cap Rate 16.93%
Pro-Forma NOI $143,906
Price per SqFt $128
Class C
Year Built 1985
Year Renovated 2008
Buildings 2
Stories 1
Lot Size (SqFt) 26,136
Zoning IL (Light Industrial)
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Ownership Fee Simple
Sale Condition N/A

16.93% Cap Rate Upside

Marketing description

Discover a lucrative opportunity to own 4889-4895 E Craig Rd. 4889-4895 E Craig Rd, Las Vegas, NV 89115 presents a compelling opportunity to acquire a multi tenant automotive and retail asset on a high visibility corner along heavily trafficked East Craig Rd. the offering included two buildings totaling approximately 6,654 SF on a generous +/-26,136 SF lot with light industrial zoning (IL). The front retail/ automotive building is +/-4,270SF and occupied by established month to month tenants, paying below market rent. The tenants include an auto mechanic paying $2800 per month (occupying +/- 2,170 SF), a Thai restaurant paying $1875 per month (occupying +/-1,610 SF), and a tattoo shop paying $675 per month (occupying +/-450 SF). This provides in-place, stable income with upside upon raising the rents to market. The second building 4895 E Craig Rd ±2,384 SF and is currently vacant and offers significant lease-up upside. Previously operated as a self-serve carwash, the vacant building can be used as a self-serve carwash or converted into a tire shop or similar business by adding bay doors , is currently vacant and offers lease-up upside. With current occupancy at 64.17%, the property offers immediate value-add potential for investors and an attractive owner-user opportunity for a mechanic shop seeking frontage, visibility, and expansion potential. Located less than a mile from a major interstate freeway, the property benefits from accessibility, dense surrounding population, a heavily trafficked street, and supply constrained automotive submarket where demand remains strong and growth potential is significant.

*Note: Drive by only. Contact listing agent for tours.

Investment highlights

  • 4889-4895 E Craig Rd consists of a total building square footage of +/-6,654 SF and a total lot size of +/-26,136 SF.
  • Price is $850,000 - $127.74 / SF
  • 16.59% Cap Rate upside upon raising the rents operating the vacant building as a carwash (it was previously operated as a carwash).
  • Zoned Light Industrial (IL)
  • This property has tremendous upside to increase cashflow for an investor and a rare opportunity for an owner-user automotive operator to own a bustling auto shop on a heavily trafficked street.

Listing Contacts

MH
NV NV B.0145866 | CA 01824108, CA 01824108
Regency Realty Investments LLC
Listed by Regency Realty Investments LLC

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$45,741.00
$3,811.75/mo

Valuation Metrics

0
DSCR
5.38%
Cap Rate
5.38%
ROI

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Additional Information

Name
Marcie Hansen
License
NV B.0145866 | CA 01824108
Title
Broker of Record
Name
Marcie Hansen
License
NV B.0145866 | CA 01824108
Brokerage
Regency Realty Investments
Brokerage Phone
725.332.8111
Title
Commercial Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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