Sahara Eastern Plaza
Fully Occupied Retail Strip Center with 8 Daily Needs Tenants with Long Historical Occupancy
Marketing description
Marcus & Millichap is pleased to exclusively present an excellent opportunity to acquire a quintessential infill Las Vegas retail strip center with traffic counts exceeding 77,500 vehicles per day and surrounded by an extremely dense residential population. Built in 1991, the premises are situated upon a .61 acre parcel of land.
Sahara Eastern Plaza has maintained full occupancy with historically long-standing tenants, with the majority having occupied for 15+ years. The neighborhood-serving strip center features eight daily needs and service-oriented tenants, including a corporate Subway Restaurant that has occupied since 2001, a recently leased Total Wireless (Verizon), L.A. Insurance, who has occupied since 1996, a grocery market and several popular restaurants appealing to the surrounding community.
Lease structures are all NNN and full expense recovery includes the opportunity to maintain various capital expense items. Additionally, the majority of the leases provide for annual rental escalations which help ensure optimal balancing against inflation.
Improvements made over the past several years include a new pylon sign as well as a newly surfaced parking lot. A future owner may decide to have a billboard installed onsite as existed previously and was leased to an outdoor sign company. Property is being sold as-is.
Investment highlights
- Highly Trafficked Prime, Signalized, Hard-Corner Location Featuring 77,500+ Vehicles Per Day
- Eight Daily Needs Restaurant, Grocery & Service Oriented Tenants Including Subway and Total Wireless (Verizon)
- Strong Infill Las Vegas Retail Corridor Surrounded by Multiple Regional and National Retailers
- Close Proximity to the Las Vegas Strip, Downtown Las Vegas, Valley High School, Sunrise Hospital and UNLV
- Tremendous Population Density with 206,655 Residents in the 3-Mile Radius and Daytime Population of 293,486
- Durable Rent Roll: Long Term Tenancy with All Except Two of the Tenants Having Occupied for 15+ Years
- Irreplaceable Hard Corner Location with Small Unit Sizes and Ease of Access
- Annual Rental Increases with Most Tenants - All NNN Leases
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