EXCLUSIVE INVESTMENT OFFERING Sahara Design Center 8945 W. Russel Road Suite 110 Las Vegas, NV 89148 17,474 SF | Las Vegas, NV (702) 383.3383 | naivegas.com CONTACT
Steve Nosrat Matt Jenkins Art Carll-Tangora Sahara Design Center T +1 702 534 1718 T +1 702 534 1717 T +1 702 534 1701 7035 W Sahara Ave [email protected] [email protected] [email protected] Las Vegas, NV 89117 Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 2 PROPERTY DETAILS
THE OFFERING
ADDRESS YEAR BUILT # OF LAND SIZE NET AVG NOI PHYSICAL 7035 W Sahara Ave 2001 SUITES ±1.34 AC RENTABLE SF SUITE SIZE $269,233 OCCUPANCY Las Vegas, NV 6 17,474 2,912 SF 100%
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 3 BUILDING & SITE DESCRIPTION
ITEM DESCRIPTION
Property Address 7035 W Sahara Ave
Parcel Numbers 163-10-503-002
Year Completed 2001
# of Buildings 1
# of Suites 6
Net Rentable Square Footage 17,474
Total Land Area 1.34 AC
# of Floors 1
Exterior Materials Reinforced Concrete
Sprinklers Wet
Ceiling Height 18'
HVAC Tenant Controlled
Roof Type Built Up
Foundation Reinforced Concrete
Signage 1 - Pylon on W Sahara Ave
FOR MORE INFORMATION http://helloarti.com/view/30504
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 4 PROPERTY HIGHLIGHTS
• Owner Will Carry - Short Term • Prime Automotive Sector - West Las Vegas • High Population Density: 472,300 people within a 5-Mile Radius • Located at High Trafficked Signalized Intersection: Rainbow Blvd & Sahara Ave with over 100,000 ADT (ESRI) • Average Household Income of $72,850 within 1-Mile.
DEMOGRAPHICS
POPULATION 1-MILE 3-MILE 5-MILE INCOME 1-MILE 3-MILE 5-MILE
2018 Population 13,705 197,533 477,022 2018 Median HH Income $44,651 $48,097 $50,589
2023 Projected Population 14,322 209,500 510,105 2018 Average HH Income $72,850 $64,023 $70,056
HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2018 Per Capita HH Income $29,013 $24,327 $27,563 2018 Households 5,066 73,500 184,358
2023 Projected Households 5,262 77,571 196,306
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 5 SITE PLAN SUITE TENANT SF
100 Harleys/Choppers 3,360 200 Advanced Mufflers 2,228 300 RBO Motor Sports 2,583 400A - 410 Certified 5,500 W Sahara Ave 500 - 500A Auto Repair/Iphone 3,803 SUITE 500 SUITE 200 SUITE 100 SUITE 300 SUITE 500A SUITE 400A-410
*Note: Site plan is not drawn to scale
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 6 FLOOR PLANS CLICK SUITE NUMBER FOR VIRTUAL TOUR
SUITE 100
SUITE 200
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 7 FLOOR PLANS CLICK SUITE NUMBER FOR VIRTUAL TOUR
SUITE 300
SUITE 400A-410
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 8 FLOOR PLANS CLICK SUITE NUMBER FOR VIRTUAL TOUR
SUITE 500A SUITE 500
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 9 PARKING
ITEM DESCRIPTION
Open Spaces 53
Handicap 4
Total Spaces 57
Overall Ratio Per Suite 9.5
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 10 LOCATION HIGHLIGHTS
SITE
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 11 RENT ROLL
SUITE START DATE END DATE SF IN PLACE RENT OPTIONS
$5,105.31 Two 2 Year Options 100 7/15/2014 7/14/2020 3,360 Inclusive of CAM 3% Annual Increases $3,432.25 One 6 Year Option 200 2/1/2014 1/31/2020 2,228 Inclusive of CAM 3% Annual Increases $4,788.88 One 5 Year Option 300 6/13/2016 6/30/2021 2,583 Inclusive of CAM 3% Annual Increases $4,812.50 No Option 400 1/1/2015 7/14/2019 2,750 Inclusive of CAM 3% Annual Increases $3,200.00 410 Month-to-Month Month-to-Month 2,750 No Option Inclusive of CAM $5,599.07 Two 5 Year Options 500 12/1/2013 11/31/2022 3,803 Inclusive of CAM 3% Annual Increases
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 12 FINANCIALS
INCOME
NOI $269,233
CAM BREAKDOWN
Accounting $1,986
Secretary of State Fees $350
Insurance $4,497
Grounds Keeping $3,220
Postage $86
Repairs/Maintenance $3,100
Fire Monitoring $880
Property Tax $11,946
Trash $12,996
Utilities $8,961
Management $6,000
TOTAL $54,023
CAM PSF $0.26
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 13 LOCAL DEMOGRAPHICS
With an increasing population of over two million residents, Las Vegas features a combined dynamic of steady household incomes and high education levels. Las Vegas is expanding rapidly, and population is expected to grow 2% by 2020. Along with the population, home sales and pricing, as well as employment and income, are continuing to rise. A benefit for businesses moving to the area is Las Vegas’s educated and fast growing workforce. About 54% of the city’s employed population is white collar and the overall unemployment rate for Las Vegas MSA is 6.4%.
Submarket Las Vegas MSA Nevada
Median Household Income $50,853 $55,011 $55,443
Average Household Income $70,625 $73,784 $74,671
Average Home Value $519,043 $293,320 $304,982
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 14 las vegas PROJECTS
GOOGLE DATA CENTER MARRIOTT, THE DREW
• Henderson is slated to be home to a new Google data center • 4000+ Mega Hotel Resort in December 2020. • Marriott, the American multinational hospitality company, is now • The Governor’s Office of Economic Development approved opening a new resort and casino in Las Vegas, set for 2020. $25.2 million in tax abatements Thursday for Design LLC, a • Known as The Drew Las Vegas, the unfinished resort by the former wholly-owned subsidiary of Google. The company plans to name Fontainebleau, started with constructions in 2007, will now be build the data center on 64 acres of land on Warm Springs turned into a complex combined like hotel and casino and may Road west of Boulder Highway. The subsidiary plans to build have a walkway to the adjacent luxury Turnberry Place high rises. and own the facility, while Google would handle operations • The mega hotel will house 4,000 guest rooms, as well as 500,000 and hiring. sq feet of a space for events, convention center, and meetings. • Google projects that it would bring in more than $94.3 million Currently, Marriott manages about 20 hotels in the Las Vegas area in tax revenue to Nevada over the next 20 years, and hire 50 under their brands, however, as Tony Capuano– the global chief employees within the next five years at an average salary of development officer for Marriott said: “The Drew Las Vegas will $65,000. The company expects to invest at least $600 million become a landmark property for Marriott International.” over the next 20 years.
RAIDERS STADIUM RENDERING
NFL RAIDERS STADIUM
• $1.8 Billion • Las Vegas will proudly welcome the Raiders in the National Football League (NFL) Stadium which is under construction now and expected to open in 2020. The future 65,000 seat home of the Oakland Raiders is under steady progress and is expected to be the host of some huge major events which will make Las Vegas the sought after entertainment destination. There is no doubt that the relocation of the Oakland Raiders to Las Vegas and the opening of the new Las Vegas Stadium will be an enormous success for Las Vegas.
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 15 UNION VILLAGE
• In what’s dubbed the first integrated health care village in the world and largest health care project in the nation at $1.2 billion, Union Village in Henderson is starting to take shape. • Union Village is a 130-acre integrated health village located in Henderson, NV (Las Vegas, MSA). Union Village includes Henderson Hospital, multi-family and generational housing, medical office, gym, restaurants and retail. • Approximately 355,000 square feet have been completed and $300 million in work is done. There are 476,000 square feet under construction worth $64 million and another $277 million that will be under construction by the end of the year.
UNION VILLAGE RENDERING
MADISON SQUARE GARDEN RENDERING
MADISON SQUARE GARDEN LAS VEGAS
• $75 Million • The concert experiences happening in Las Vegas will be soon taken to another level with the development of a futuristic Madison Square Garden music arena expected to open its doors in 2020. Developed in partnership with Las Vegas Sands, the new arena is planned to have 18,000 seats and is expected to become a massive, high-tech, sphere-shaped venue will describe a new form of entertainment and will definitely bring unforgettably, revolutionized experiences for both performers and the audience.
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 16 LAS VEGAS CONVENTION CENTER EXPANSION
• The Las Vegas Convention and Visitors Authority is underway on a 1.8 million SF expansion of the LVCC. • It will include a World Trade Center building and multi-modal transportation center. • The 1.4 billion project will be completed in 3 phases in 8 years. • It will provide 14,000 construction jobs and 7,800 permanent jobs upon completion. • It is expected to draw 600,000 annual visitors. • Currently Phase 1 is complete, Phase 2 is underway which includes 1.4 million SF of new exhibit and meeting space, to be completed in 2020.
LVCC EXPANSION RENDERING
RESORTS WORLD RENDERING RESORTS WORLD
• Developed by Genting Group, an asian themed resort with a 150,000 SF casino on 87 acres of land. • $4 Billion mega-resort will include 4 towers with 3,000 hotel rooms, 4,000 seat theater, 1M SF convention center, 150,000 SF casino, 15 retail outlets, aquarium, Chinese garden, 30 restaurants and bars. • Will employ 3,000 full time employees. • Expected to open late 2020.
ALL NET RESORT AND ARENA
• Former UNLV and NBA basketball player, Jackie Robinson resumed construction on $2.7 billion arena, hotel, and shopping project on the former 27 AC Wet 'n' Wild site. • 23,000 seat, retractable roof arena is costing $670 million • Total project size is 862,000 SF and will also include a 63 story, 2,000 room hotel, 240,000 SF conference center, 300,000 SF retail and entertainment space, 24 lane bowling alley, 2,500 seat showroom, wedding chapel, grocery store, 16 screen movie theater, and offices. • All expected to be complete by 2020.
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 17 VEGAS TRADE VILLAGE
• $100 Million live-work space in the industrial area of Las Vegas • Phase 1 includes a 4,800 SF bank and convenience store with a car wash and fast food eatery and is scheduled to complete in 2018. • Remaining phases could take up to 7 years to complete and includes an international trade center over 35 acres with a 20,000 SF convention center, a 264 unit apartment building, 4 restaurants, and a 120 room hotel.
VEGAS TRADE VILLAGE
CIRCA HOTEL & CASINO DOWNTOWN GRAND
Circa Hotel & Casino
• 777 room property • First ground up hotel Downtown in decades • Doors to open Fall of 2020 • 44 stories expected to complete 1.25 Million SF
Downtown Grand Expansion AMAZON FULFILLMENT • 495 room hotel tower to the existing 629 rooms • Start of construction is January 14, 2018 • Expanding hospitatlity space by over 250,000 SF • Contemporary architecture and modern suites
AMAZON
• 800,000 SF fulfillment facility located in a new industrial complex a few miles from the Las Vegas Motor Speedway. • The new warehouse is expected to pack and ship small items such as book, toys, and household items. • This will be Amazon's 3rd facility in North Las Vegas and will provide more than 1,000 full time jobs • Expected to open late 2019.
Offered By: Steve Nosrat | Matt Jenkins | Art Carll-Tongora NAI Vegas | naivegas.com 18 the Sauter Multifamily Advisors DISCLAIMER TERMS & CONDITIONS This package is provided to you by NAI Vegas and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the property described in the attached documentation (the “Property”). The providing of this package to you and your use thereof is conditioned upon your agreement to the terms set forth below.
This package contains selected information pertaining to the Property. It does not purport to be a representation of the state of affairs of the current owner, nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and NAI Vegas. All projections, assumptions and other information provided are made herein are subject to material variation. NAI Vegas has not independently investigated the accuracy of the information within the package, as such information was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.
Neither the owner, NAI Vegas, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, whichdisclaimer is incorporated herein by reference.
You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.
By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of owner or NAI Vegas. You also agree that you will not use this brochure or any of its contents in any manner detrimental to the interest of the owner or NAI Vegas.
This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on this Memorandum as part of your investigations on this Property. If you have no interest in further pursuing this Property, please return this package to NAI Vegas.