±21,315 SF [email protected] [email protected] Offering Memorandum License # NV-BS
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5035-5075 SOUTH DECATUR BOULEVARD LAS VEGAS, NEVADA 89118 RARE AUTOMOTIVE RETAIL CENTER AL TWAINY, CCIM JENNIFER LEHR, CCIM +1 702 836 3725 +1 702 836 3736 ±21,315 SF [email protected] [email protected] offering memorandum License # NV-BS. 0143951 License # NV-BS.24268 5035-5075 SOUTH DECATUR BOULEVARD LAS VEGAS, NEVADA 89118 CONFIDENTIALITY AGREEMENT © 2019 Colliers International This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of Northwest Corner of Boulder Highway and East Horizon Drive (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby. Property is being offered for auction in an “as-is, where-is” condition and Seller and Broker make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. Neither the enclosed materials nor any information contained herein is to be used for any other purpose or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed, should be registered with Broker as a “Registered Potential Investor” or as “Buyer’s Agent” for an identified “Registered Potential Investor” through the execution of the Confidentiality Agreement. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confidentiality agreement furnished by Broker prior to delivery of this Offering Memorandum. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The materials contained herein are based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Broker or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Broker nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communications or information transmitted or made available or any action taken or decision made by the recipient with respect to Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the materials contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw Property from being marketed for auction at any time and for any reason. Seller expressly reserves the right, at its sole and absolute discretion, to reject any and all expressions of interest or offers regarding Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, corrections of errors, change of price or other terms, with respect to sale or withdrawal from the market without notice. Broker is not authorized to make any representations or agreements on behalf of the Seller. Further, Seller reserves the right to negotiate and accept an offer prior to bid deadline. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigations and/or making an offer to purchase Property unless and until a binding written agreement for the purchase of Property has been fully executed, delivered, and approved by Seller and any conditions to Seller and Purchaser’s obligations there under have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Broker or Seller promptly upon request; and (b) the recipient shall not contact employees of Property directly or indirectly regarding any aspect of the enclosed materials of Property without the prior written approval of the or Broker; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller or Broker or as otherwise provided in the Confidentiality and/or Registration Agreement executed and delivered by the recipient(s) to Broker. 5035 - 5075 S. DECATUR BOULEVARD - P. 2 TABLE OF CONTENTS 4 Property Overview 5 Property Details 6 Amentities Map 7 Rent Roll 8 Site Plan 9 Demographics ±21,315 SF offering memorandum EXECUTIVE SUMMARY Colliers International is pleased to offer a rare opportunity to purchase a ±21,315 SF retail automotive plaza. The property offers exposure on South Decatur with easy access to the 215 & I 15. The property is located at 5035 - 5075 South Decatur Boulevard, Las Vegas Nevada within the Central West Las Vegas submarket. INVESTMENT HIGHLIGHTS: • Rare Automotive Retail Center • 91.68% Occupancy • Within 3.0 miles of the Las Vegas Strip, McCarran International Airport and Raider’s Stadium • Easy access to I-15 and 215 Beltway • 323 feet of frontage along South Decatur Boulevard • Traffic counts of over 80,000 cars per day • 363,719 residents within a 5-mile radius with an average household income of $64,366 LOCATION DESCRIPTION: The Property is located on South Decatur Boulevard just south of West Tropicana PROPERTY DESCRIPTION: Avenue, having the civic address of 5035-5075 South Decatur Boulevard, Las Vegas, This Automotive and Retail Center consists of three (3) single-story multi-tenant Nevada. The Property is located within 3 miles of the Las Vegas Strip, McCarran buildings built between 2000-2003 and totals ±21,315 square feet. The Property has International Airport, Raider’s Stadium, approximately 2.5 miles to the west of the on/off excellent street exposure on South Decatur Boulevard offering 323 feet of frontage ramps of I-15 at Tropicana Avenue and approximately 2.5 miles to the north of the on/ and traffic counts of over 80,000 cars per day. off ramps of the 215 Beltway. As of 2018, there were 363,719 residents within a 5-mile radius with an average household income of $64,366. 5035 - 5075 S. DECATUR BOULEVARD - P. 4 PROPERTY DESCRIPTION PROPERTY DETAILS Address 5035-5075 South Decatur Boulevard City, State, Zip Code Las Vegas, Nevada 89118 163-25-502-028,163-25-502-030, APN(s) 163-25-502-031 SOUTH DECATUR BOULEVARD Building SF ±21,315 Acres ±2.41 Acres Suite SF ±1,775 SF – ±7,430 SF # of Stories 1 Year Built 2000-2003 Parking 4.42: 1,000 (110 stalls) Zoning C-2 (Clark County) Property Type Retail Automotive Tenancy Multi Asking Price $5,400,000 NOI $292,545 Occupancy Rate 91.68% 5035 - 5075 S. DECATUR BOULEVARD - P. 5 AMENITIES MAP WEST TROPICANA AVENUE International Market O'Aces Bar Grill SOUTH DECATUR BOULEVARD SOUTH DECATUR 5035 - 5075 S. DECATUR BOULEVARD - P. 6 RENT ROLL Tenant Suite Lease Lease Total Vacant Rented Base Mo. Base Rent Date of Rent Mo. Mo. Annual Annual Annual Name # Start Ends SF SF SF $/SF Base Rent Increases Increases CAM Total Rent Base Rent CAM Total 5035 South Decatur Boulevard Olympic Auto 100 04/19/2011 04/30/2020 7,430 - 7,430 $0.99 $7,409 - - $2,823 $10,232 $88,908 $33,881 $122,789 Max Auto Care 101 03/10/2009 03/31/2021 2,860 - 2,860 $1.45 $4,135 $4,258 04/01/2020 $1,086 $5,221 $49,620 $13,032 $62,652 AA Auto Care - 08/26/2011 08/31/2019 3,500 - 3,500 $1.21 $4,235 - - $1,330 $5,555 $50,820 $15,960 $66,780 5055 South Decatur Boulevard VACANT 100 - - 1,775 1,775 - $1.99 $0 - - $0 $0 $0 $0 $0 Good Life Auto 101 02/14/2018 01/31/2023 1,950 - 1,950 $ 1.39 $2,711 $2,793 02/01/2020 $741 $3,452 $32,526 $8,892 $41,418 Tint, LLC 5075 South Decatur Boulevard Elite Auto Sale 102 10/01/2017 09/30/2022 3,800 - 3,800 $ 1.60 $6,080 $6,574 10/01/2019 $1,444 $7,524 $72,960 $17,328 $90,288 TOTALS 21,315 1,775 19,540 $24,569 $7,424 $31,984 $294,834 $89,093 $383,927 5035 - 5075 S. DECATUR BOULEVARD - P. 7 SITE PLAN 5035 S. DECATUR BLVD. SOUTH DECATUR BOULEVARD SOUTH DECATUR 5075 S. DECATUR BLVD. 5055 S. DECATUR BLVD. TROPICANA AVENUE 5035 - 5075 S. DECATUR BOULEVARD - P. 8 DEMOGRAPHICS POPULATION 1 MILE 3 MILES 5 MILES 2018 18,334 117,287 363,719 2023 Projection 19,252 124,627 393,049 HOUSEHOLD 1 MILE 3 MILES 5 MILES INCOMES 2018 Average $53,077 $60,234 $64,366 2023 Average $62,068 $69,820 $74,435 POPULATION BY 1 MILE 3 MILES 5 MILES RACE 2018 Caucasian 8,118 57,649 180,168 African American 3,573 14,013 42,742 Hispanic 4,702 43,354 120,587 Asian 3,092 16,153 56,510 5035 - 5075 S.