Plaza Las Americas

540 - 546 N. Eastern Ave., Las Vegas, NV 89101

— Recently Sold • Represented Seller —


Size +/- 30,368 SF

Year Built 2008

Property Information

Property Overview

The Berg Advisory Group is pleased to present an opportunity to purchase Plaza Las Americas (the ‘Property’), a +/- 30,368 SF value-add retail building located in Las Vegas, NV. Plaza Las Americas is currently 70% occupied and is being offered at $104 PSF, far below replacement cost, giving an owner the rare opportunity to purchase a ‘value-add’ property with upside in rents.

Plaza Las Americas is located on N. Eastern Ave., which sees +/- 42,838 CPD, one of the strongest north/south thoroughfares in Las Vegas. The Property is strategically located less than half a mile from the US-95 Freeway (+/- 158,000 CPD) and is located near the intersection of N. Eastern Ave. and E. Bonanza Rd., one of the busiest intersections in the submarket which sees over 67,000 CPD.

The Property was built in 2008 and sits in a dense infill trade area with no new large construction projects planned, thus limiting the threat from additional competition to the neighborhood. There are +/- 30,212 residents living within a one-mile radius of the Property, with 73% being of Hispanic origin. The purchase of Plaza Las Americas provides an opportunity to acquire a rare value-add investment opportunity below replacement cost.

Investment Highlights

LOW PRICE PER FOOT: Plaza Las Americas is being offered at $104 PSF, significantly below replacement cost.

10.6% PROJECTED ALL CASH RETURN AT 100% OCCUPANCY: NOI is projected to be $333,892 at 100% occupancy giving the new owner a 10.6% all cash return.

NEWER CONSTRUCTION: Plaza Las Americas was built in 2008 therefore limiting near term capital expenditures.

RARE VALUE ADD: Plaza Las Americas is currently 70% occupied and is being offered at a 6.43% cap rate on in-place NOI of $202,579. This will give the new owner an opportunity to have a strong Day 1 return while having the opportunity to increase it upon leasing the vacancies.

EFFICIENTLY SIZED TENANT SUITES: Most of the suites range from 1,380 – 2,000 SF, making it easier to re-tenant a unit due to a vacancy.

DENSE INFILL AREA: Over +/- 30,212 residents live within a 1-mile radius of the Property, with 73% being of Hispanic origin.

LOCATED ON A MAJOR THOROUGHFARE: Plaza Las Americas is located on Eastern Ave. (+/- 42,838 CPD), one of the busiest thoroughfares in Las Vegas and is less than a half mile from US-95 Freeway (+/- 158,000 CPD). The Property is surrounded by dominant shopping centers that are vital to the area.

CLOSE PROXIMITY TO LAS VEGAS STRIP: The Las Vegas Strip is less than 5 miles from the Property, which currently has +/- $19.7 Billion in construction projects either under development or ready to break ground. This will provide future growth for the valley.