Offering Memorandum
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LAS VEGAS BOULEVARD INVESTMENT 910 S. Las Vegas Blvd., Las Vegas, NV 89101 Subject Property Alberto “AJ”Jauregui, CCIM, CIPS OFFERING MEMORANDUM 702-435-7011 [email protected] EXCLUSIVELY OFFERED BY NEVADA LAND COMMERCIAL REAL ESTATE Nevada Land www.nevadaland.comCommercial Real Estate | 1 CONFIDENTIALITY AGREEMENT The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Nevada Land Commercial Real Estate and should not be made available to any person or entity without the written consent of Nevada Land Commercial Real Estate. This Marketing Brochure has been prepared to provide information to prospective purchasers, and to establish a preliminary level of interest in the subject property. The information contained herein is not a substitute for thorough due diligence investigation. Nevada Land Commercial Real Estate makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable, however, Nevada Land Commercial Real Estate has not verified, and will not verify, any of the information contained herein, nor has Nevada Land Commercial Real Estate conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Alberto “AJ”Jauregui, CCIM, CIPS LAS VEGAS BOULEVARD INVESTMENT 702-435-7011 910 S. Las Vegas Blvd., Las Vegas, NV 89101 [email protected] Nevada Land Commercialwww.nevadaland.com Real Estate | 2 TABLE OF CONTENTS Downtown, Las Vegas 4 4. TENANTS PROFILES 16 1. EXECUTIVE SUMMARY 5 5. AREA DESCRIPTION 17 Offering Summary 5 Maps 18 Site Description 6 Las Vegas 21 Neighboring Properties 6 Mechanical 6 6. DEMOGRAPHICS 22 Construction 6 Population 22 Tenant Information 6 Households 22 Housing 22 2. PROPERTY INFORMATION 7 Traffic 23 Property Summary 7 Investment Highlights 7 Site Plan 8 Parcel Map 9 Building Photos 10 3. FINANCIALS 11 Financial Summary 11 2017 Assessed Summary | Parcels 12 Net Property Tax 13 Dona Maria Restaurant Rental Income 14 Total Rental Income 14 Income and Expenses Summary 15 Nevada Land Commercial Real Estate | 3 DOWNTOWN, LAS VEGAS Las Vegas Boulevard Investment DOWNTOWN, LAS VEGAS Nevada Land Commercial Real Estate is pleased to offer an exceptional opportunity to purchase a property fronting famous Las Vegas Boulevard. The property is located at the northwest corner of Las Vegas Blvd. and E. Charleston Boulevard, having the civic address of 910 Las Vegas Blvd., Las Vegas, Nevada 89101. The property is steps away from the Regional Justice Center, Lawyer’s Row, the Arts District, Las Vegas Boulevard, The Fremont Street Experience, and two significant condominium towers (Soho and Newport). With its direct exposure along two major thoroughfares in the area, Las Vegas Boulevard and 4th Street, the property is ideally situated at the Gateway to Downtown and The Strip. The Property is on S. Las Vegas Boulevard and surrounded by multiple high density residential and commercial uses. The neighborhood includes the Arts District, Main Street, Las Vegas Premium Outlets, Fremont Street Experience and is just east of Interstate 15. As the Property is located at the Gateway to Downtown Las Vegas, guests/tenants are steps away from the world famous Downtown Las Vegas tourism corridor. Since the late 1990’ s, locals and tourists alike have reveled under the canopy at the Fremont Street Experience. Prior to the famous street closing to vehicular traffic, the Downtown Casinos were some of the very first legalized gaming areas and provide both a history of Las Vegas and the area as well as a more intimate experience than the Las Vegas strip further south of the subject site. Fremont Street Experience is a five-block entertainment district with direct access to casinos, hotels, dining, nightlife and street artists. Suspended 90 feet above the pedestrian mall and featuring Viva Vision (the world’ s largest video screen -1,500 feet long, 90 feet wide and 90 feet tall, with 12.5 million LED lights and a 550,000-watt sound system). Nevada Land Commercial Real Estate | 4 EXECUTIVE SUMMARY OFFERING SUMMARY Address 910 S. Las Vegas Blvd. Las Vegas, NV 89101 County Clark APN 139-34-410-164 139-34-410-140 T, R, S 20, 61, 34 Building Size 6,036 SQ FT Property Type Commercial Property Use Type Restaurant Tenancy 1 Tenant Year Built 1990 Lot Size 0.68 AC Price $3,500,000 | Real Estate Only LAS VEGAS BOULEVARD INVESTMENT $3,500,000 Nevada Land Commercial Real Estate | 5 EXECUTIVE SUMMARY Las Vegas Boulevard Investment SITE DESCRIPTION MECHANICAL Number of Tenants 1 HVAC Yes Number of Parcels 2 Fire Sprinklers No Building Class B Lighting Parking Lot Zoning C-2 Topography Flat CONSTRUCTION Location Class Las Vegas Downtown Number of Stories 1 Foundation Reinforced Concrete Number of Buildings 1 Framing Wood & Stucco Exterior Lot Frontage 100’ (Las Vegas, Blvd) Stucco 100‘ (S. 4th St.) Parking Surface Asphalt Number of Parking Space 64 Roof Flat and Pitch w/Concrete Tile Parking Ratio 10.5/1000 Landscaping Trees & Shrubs NEIGHBORING PROPERTIES TENANT INFORMATION North Commercial / High Rise Tower Condos Shadow Anchor Dona Maria Restaurant South Commercial / Hospitality East Commercial / Medical West Commercial / Office Nevada Land Commercial Real Estate | 6 PROPERTY INFORMATION PROPERTY SUMMARY Located on the NW corner of Las Vegas Boulevard & E. Charleston Boulevard, fronting famous Las Vegas Boulevard. Currently, the property is leased to The Dona Maria Restaurant a popular, well-known and established restaurant with bar/lounge and gaming with the same owner for more than 30 years. INVESTMENT HIGHLIGHTS • Las Vegas Boulevard Address • Next to Soho Loft High Rise Condominiums • High Traffic Count • Surrounded by established high profile • Fronting Famous Las Vegas Boulevard businesses Nevada Land Commercial Real Estate | 7 PROPERTY INFORMATION Las Vegas Boulevard Investment SITE PLAN Conceptual Plan Not to Scale Nevada Land Commercial Real Estate | 8 PROPERTY INFORMATION Las Vegas Boulevard Investment PARCEL MAP Nevada Land Commercial Real Estate | 9 BUILDING PHOTOS Las Vegas Boulevard Investment View from North Front of building View from North West View from North 4th St View from North LV Blvd Nevada Land Commercial Real Estate | 10 FINANCIALS FINANCIAL SUMMARY Offering Price $3,500,000 Real Estate Only Land & Building Price/SF $579.85 Occupancy 100% Subject Property Property Located at Las Vegas Blvd Nevada Land Commercial Real Estate | 11 FINANCIALS Las Vegas Boulevard Investment 139-34-410-164 2017 ASSESSED SUMMARY Improvements $150,212 Land $359,809 Total Assessed Value $510,021 PARCEL NO 139-34-410-164 139-34-410-140 Improvements $150,212 Land $226,406 Total Value $376,618 PARCEL NO 139-34-410-140 Improvements $0 Land $133,403 Total Value $133,403 Parcels Division Nevada Land Commercial Real Estate | 12 FINANCIALS Las Vegas Boulevard Investment NET PROPERTY TAX PARCEL NUMBER NET TAX 139-34-410-164 $9,052.99 139-34-410-140 $3,353.64 Nevada Land Commercial Real Estate | 13 FINANCIALS Las Vegas Boulevard Investment DONA MARIA RESTAURANT | RENTAL INCOME MLY RENT MLY COM PYLON YLY TOTAL SEC SIGNED END TENANT SQ FOOT % OCCUP PRICE /SF CAM INCOME CHR INC INCOME DEPOSIT LEASE LEASE Dona Maria Restaurant 6,036 100% N/A $17,000.00 N/A N/A N/A $204,000 $0 2021 2026 TOTAL $17,000.00 N/A N/A $204,000 $0 Monthly Income Including CAM $17,000.00 Square Foot Average N/A Vacant SQ/FT and Percentage 0 / 0% TOTAL | RENTAL INCOME TOTAL MLY TOTAL MLY TOTAL MLY RNT TOTAL MLY CAM YEARLY TOTAL INCOME PYLON INC EXPENSES $17,000.00 N/A N/A N/A $204,000.00 CONTINUATION ON THE NEXT PAGE Nevada Land Commercial Real Estate | 14 FINANCIALS Las Vegas Boulevard Investment INCOME AND EXPENSES SUMMARY DOÑA MARIA RESTAURANT SCHEDULE RENTAL INCOME $204,000.00 Additional Income (Pylon Sign) N/A Vacancy 0% EFFECTIVE RENTAL INCOME $204,000.00 Other Income (CAM Revenue) N/A GROSS OPERATING INCOME $204,000.00 Less: Total Operating Expenses $0 NET OPERATING INCOME (NOI) $204,000.00 DONA MARIA RESTAURANR (NOI) $204,000.00 TOTAL NET OPERATING INCOME (NOI) $204,000.00 CAP RATE 5.82% Nevada Land Commercial Real Estate | 15 TENANT’S PROFILES Dona Maria Tamales Local Business www.donamariatamales.com Dona Maria’s Mexican Restaurant, a local establishment now with two locations in business for over 30 years here in the Las Vegas valley. Well known for their famous tamales , authentic Mexican food and Margaritas, Doña Maria’s was voted Las Vegas Review Journal’s pick for “Best of Las Vegas” Mexican restaurant for 2010. Nevada Land Commercial Real Estate | 16 AREA DESCRIPTION This exiting opportunity is located in the heart of Downtown Las Vegas, Nevada on Las Vegas Boulevard South next to Soho Loft High Rise Condominiums. Surrounded by established high-profile businesses in the Government and Art Distric in Downtown Las Vegas. This location has tremendous visibility, prestige and is exposed to huge traffic counts. S. Las Vegas Blvd 910 S. Las Vegas Blvd. Las Vegas, NV 89101 E. Charleston Blvd Nevada Land Commercial Real Estate | 17 AREA DESCRIPTION Las Vegas Boulevard Investment Subject Property Property Next to Soho Loft Subject Property Aerial View Nevada Land Commercial Real Estate | 18 AREA DESCRIPTION Las Vegas Boulevard Investment Nevada Land Commercial Real Estate | 19 AREA DESCRIPTION Las Vegas Boulevard Investment Subject Property Aerial View Nevada Land Commercial Real Estate | 20 AREA DESCRIPTION Las Vegas Boulevard Investment LAS VEGAS Is the most populous city in the state of Nevada and is the county seat of Clark County.