1050 INDIGO DRIVE Las Vegas, NV 89145 RARE SUMMERLIN INVESTMENT OPPORTUNITY SELLER MAY CONSIDER A CARRY BACK Offered by: Service You Deserve. People You Trust. Jarrad Katz, SIOR, CCIM Galit Kimerling 5960 South Jones Boulevard Executive Vice President I Principal Vice President Las Vegas, Nevada 89118 Lic#: BS.0145888 Lic#: S.0065773 T 702.388.1800 | F 702.388.1010 702.610.1002 323.244.1628 www.mdlgroup.com
[email protected] [email protected] HIGHLIGHTS INVESTMENT OVERVIEW ACQUISITION NARRATIVE LOCATION 1050 Indigo Drive, Las Vegas, NV 89145 This offering is a rare opportunity to acquire a quality office PARCEL NUMBER 137-368-110-17 asset in an A+ location. The property is fully occupied with sig- nificant upside going forward. Current rents are ±40% below INTERSECTION Indigo Drive & Charleston Boulevard market rents of like kind office properties within the immediate area. It would be incredibly difficult to replace this asset, due SQUARE FOOTAGE ±20,774 to an absence of available land for commercial development in The JGS Group, Douglas M. Edwards, P.C, Michael J. Mona, the sub-market. TENANTS Jr., Wiley Law LLC, Naylor & Braster, Envision PURCHASE PRICE $5,500,000 ($264.75 PSF) ACTUAL CAP RATE 6.14% PROFORMA CAP RATE 9.99% NOI $348,116.46 LEASE TYPE Full service gross on most leases RENTAL ESCALATIONS 3% on average YEAR BUILT 2004 LOT SIZE ±1.5 Acres HIGHLIGHTS AREA DESCRIPTION In 1952 Howard Hughes purchased a ±25,000 acre parcel in Southern Nevada to possibly relocate his California based airline operation. Hughes ended up not relocating after all.