2375-2475 S. Jones Blvd., Las Vegas

2375-2475 S. Jones Blvd., Las Vegas, NV 89146

— For Sale —

Offering Price $4,875,000

CAP Rate 6.50%

NOI $314,957

Total Square Footage ± 15,794 SF

Property Information

Sahara Jones Center is a multi-tenant neighborhood retail center located at the signalized intersection of W. Sahara Ave. and S. Jones Blvd., within a designated Opportunity Zone. Constructed in 1987, the single-story center totals ± 15,794 square feet on 1.18 acres and is configured into 14 suites ranging from ± 585 to ± 2,367 square feet. The property offers 431 feet of frontage along S. Jones Blvd. with a dedicated turn lane, pylon signage, and 85 surface parking spaces (5.44 per 1,000 SF).

The Property is currently 100% leased and occupied by a diverse mix of local service, medical, and personal-care tenants including Check City, Sahara-Jones Dental, Back Care Chiropractic, Air Done Right, and BD Tax Group. The center has a strong occupancy history. Its tenant base is long-tenured, with Check City in occupancy since 2002 and half of the center’s tenants in place for eight years or longer. All 14 suites are leased on a NNN basis, with contractual annual increases of 3% to 4% across the majority of the rent roll. On average, the in-place rents are 16.98% below market, providing a new owner with meaningful mark-to-market upside as leases roll.

Contact

Brokerage

Cathy Jones,
CPA, SIOR, CCIM

Executive Vice President
Las Vegas
License BS.0056010
C 702.595.8765
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Brokerage

Blaze Katz, CCIM

Senior Associate
Las Vegas
License S.0195070
C 702.690.0407
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Brokerage

Paul Miachika

Executive Vice President
Las Vegas
License S.0184612
O 602.814.0661
C 602.670.6576
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Brokerage

Allyson Weber

Associate
Las Vegas
License S.0199573
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O 702.954.4183
C 702.278.8865
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Brokerage

Kimberly Boyle

Associate
Las Vegas
License S.0204210
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O 702.954.4174
C 702.807.0186
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