CONFIDENTIAL OFFERING MEMORANDUM 82% LEASED - TWO MULTI-TENANT PROFESSIONAL OFFICE BUILDINGS 8010 & 8020 West Sahara Avenue Las Vegas, Nevada 89117 Contents Investment Contacts Charles M. Moore, CSM License: BS.36559.PC EXECUTIVE SUMMARY 03 .............................................................. Executive Director +1 702.688.6953 05 .............................................................. PROPERTY DESCRIPTION [email protected] Marlene M. Fujita, CCIM 11 .............................................................. TENANT PROFILES Executive Director License: S.054013 15 .............................................................. MARKET OVERVIEW +1 702.688.6884 [email protected] 20 .............................................................. COMPARABLE MARKET SUMMARY Hunter Bradshaw Associate 25 .............................................................. LAS VEGAS MARKET SNAPSHOT License: S.187196 +1 702.688.6874 32 .............................................................. FINANCIALS [email protected] Helen Bejiga Brokerage Coordinator +1 702.688.6887 [email protected] © 2019 Cushman & Wakefield, Inc. All Rights Reserved. PROPERTY PHOTOS Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: EXECUTIVE SUMMARY 3 THE OFFERING Cushman & Wakefield is pleased to present for purchase a ±47,956 square foot multi-tenant professional office park located at 8010 & 8020 W. Sahara Avenue in Las Vegas, Nevada. This asset, comprised of two (2) two-story buildings situated on West Sahara Avenue between Cimarron Road and Buffalo Drive, is currently 82% leased to a variety of professional tenants including Deaf Centers of Nevada, Therapy Management Group, Conant, Nelson & Conant, Premier Realty Group, Southern Nevada Golf Association and Dr. Gregory Bowman, DDS. The remaining four (4) vacancies are in move-in ready condition requiring minimal tenant improvements. Property access is available via two (2) curb cuts on Sahara Avenue. Contained within the property’s parcel are 276 parking stalls including seventy-six (76) covered, reserved spots providing a parking ratio of 4.9/1,000 square feet, above the ±4:1,000 market standard. The property is located directly behind a retail shopping center which is 100% leased by Denny’s, Smoothie King, Faces & Curves Spa, Subway, Toothfairy Children’s Dental, Identity Hair Salon and V & V Nail Spa, and is adjacent to City Athletic Health Club. SALIENT FACTS Property Name: 8010 & 8020 W. Sahara Avenue INVESTMENT HIGHLIGHTS Address: 8010 & 8020 W. Sahara Avenue, Las Vegas, NV 89117 • TWO-STORY GARDEN OFFICE meticulously maintained, features manicured courtyards, covered parking and is located near popular amenities including: City Description: 82% Leased Two-Building Office Opportunity Athletic Club, Wells Fargo, Denny’s, Marie Callendar’s and Capriotti’s Sandwich shop. Price: $6,750,000 • CAPITAL OUTLAY in excess of $1,000,000 has been invested by ownership for Price/SF: $140 improved electrical systems, stairways, doors, exterior paint, parking, common areas and art work, as well as tenant improvements, minimizing future capital expenses. Actual In-Place NOI 10/1/19: $465,398 • LOCATION is accessible from major arteries including Summerlin Parkway Yield: 6.9% In-Place :: 7.9% Year 1 less than three and one half (3.5) miles to the north, US-95 less than four (4) Year One NOI: $531,214 miles to the northeast, the 215 beltway less than four (4) miles to the west and I-15 five (5) miles east of the subject property. Occupancy: 82% • DEMOGRAPHICS within a one mile ring has a 15,365 population count, Terms: Cash or Cash to New Loan three mile ring is 178,271 and five mile ring is 482,835. Average Household Income is estimated at $89,113, $70,676, $71,904, respectively, which is well Total Size: ±47,956 SF above the MSA average of $55,973. Acreage: ±3.08 Total Acres • INCREASED OCCUPANCY as a result of its location and improvements, the subject property continues to attract new tenants, while renewing existing tenants with APN’s: 163-04-805-004 & 163-04-805-005 minimal cost. Zoning: Office (O), City of Las Vegas • BELOW MARKET RENTS with 67% of the tenant roster paying less than today’s market lease rate. Year Built: 2001 • DOUBLE DIGIT leveraged returns in excess of 16.18% Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: EXECUTIVE SUMMARY 4 PROPERTY DESCRIPTION 8010 SAHARA 8020 SAHARA 4 Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: PROPERTY DESCRIPTION 5 SITE PLAN 8010 & 8020 W. SAHARA AVE. 8010 W 8020 W Sahara8020 SAHARA Ave 8010 SAHARA Sahara Ave NOT TO SCALE Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: EXECUTIVE SUMMARY 6 Not A Part SITE AERIAL RED ROCK HOTEL & CASINO RED ROCK QUEENSRIDGE NATIONAL PARK TOWERS S. CIMARRON RD. W. VIA OLIVERO AVE. 8020 & 8010 W. SAHARA AVE. W. VIA OLIVERO AVE. City Athletic Club 6 Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: PROPERTY DESCRIPTION 7 8010 & 8020 W. SAHARA AVE. 8010 SAHARA NOT A PART 8020 SAHARA W. SAHARA AVE. W. VIA OLIVEROAVE. PROPERTY INFORMATION Construction: The buildings are constructed of wood frame with stucco exteriors Roof: Built-up roof system HVAC: Individual rooftop package units Ingress/Egress: Access to the property is provided via two (2) curb cuts on West Sahara Avenue There are 238 parking stalls, seventy-six (76) of which are covered, reserved parking stalls Parking: providing a parking ratio of 4.9/1,000 square feet Signage: Tenant signage is located at the entry to each suite and on building directories Fire/Life/Safety: The buildings are fully sprinklered Capital Markets | Nevada Investment Team 8010 & 8020 WEST SAHARA AVENUE :: EXECUTIVE SUMMARY 8 PARCEL MAP . K K P P C C O O A A E Thiis map iis ffoorraasssseessssmmeennttuusseeoonnlylyanadnddodeosesNONTOTreprerepsresnet natsaursvueryv.ey. ASASSESSESSOSRO'SRP'SARPACRECLSEL-SC-LACRLKARCKO.C, NOV.,. NV. E O O S S M M B B T21ST2R16S0ER60E 4 4 S 2 SES42 SE 4 163-041-863-04-8 MicMhieclheeWle. WSh.aSfeha-fAes-sAessoerssor No liability iiss aassssuummeeddfoforrththeeaaccucuraracycyofotfhtehedadtatadedlienliiantieadtehdehreeirne.in. 127 123 8 4 8 8 4 4 8 4 126 127 125126124 124 123 PARCPEALRCBOELUNBDOAURNYDARY CONDCOOMNINDIOUMIUNNIUITM UN0IT01 ROAD PRAORACDELPANRUCMEBLERNUMBER 125 6 5 4 36 25 14 3 2 1 IInfformatiion onnrrooaaddssaannddooththeerrnnoonn-a-sassessessesdedpapracreclselms amyabyeboebotabintaeidned 001 5 1 7 8 9 10 11 12 1 5 5 1 5 1 D SUB BOUNDARY 7 8 9 10 11 12 D SUB BOUNDARY AIR SPACE PCL 001 PARCEL NUMER PARCEL NUMER 136 140 S AIR SPACE PCL 001 from the Road Document Listing in the Assessor's Office. 136 140 S from the Road Document Listing in the Assessor's Office. 137 138 139 N 137 138 139 N PM/LD BOUNDARY PM/LD BOUNDARY ACREAGE 18 17 16 1158 1147 1136 15 14 13 E 1.00 ACREAGE E 1.00 E RIGHT OF WAY PCL 6 2 6 2 E ROAD EASEMENT RIGHT OF WAY PCL 6 2 6 2 T ROAD EASEMENT 19 20 21 22 23 24 T G 165 161 19 20 21 22 23 24 Thiis map iis ccoomppilieleddfrforommoofffifciciaial rlerecocrodrsd,si,nicnlculduindgingsusruvervyesyasnadnddeeddese,ds, G MATCH / LEADER LINE SUB-SSUURBF-ASCUERFPACCLE PC2L 02 PARCEPLASRUCBE/SLESQUNBU/SMEBQERNUMBER164 165 163164162 163 162 161 E O MATCH / LEADER LINE 202 E O 30 29 28 27 26 25 30 29 28 27 26 25 7 3 7 3 but only contains the information required for assessment. See the L 7 7 3 7 3 L 7 but only contains the information required for assessment. See the HISTORIC LOT LINE PB 24-45 PLAT RECORDING NUMBER 7 N . HISTORIC LOT LINE PB 24-45 PLAT RECORDING NUMBER 178 7 N 174 7 175 174176 177 31178 32 33 34 35 36 . 2 P 6 7 recorded documents for more detailed legal information. 175 176 177 31 32 33 34 35 36 9 1 2 9 2 HISTORIC SUB BOUNDARY 6 P 8 recorded documents for more detailed legal information. 9 . BLOCK NUMBER . 2 1 0 2 HISTORIC SUB BOUNDARY 8 4 13 8 4 9 8 8 PM 44-43 A 9 33 7 . 7 1512.14 151.1 BLOCK NUMBER 40 8 130 4 . 7 4 4 8 0 8 A 5 7 PM 44-43 9 166.3243 9 0 7 USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL 1 15 40 2 1 1.14 15 166.24 1 HISTORIC PM/LD BOUNDARY 1.1 1 7 4 0 4 5 0 3 166.24 9 1 194 191 190 9 USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL 192 2 . 193 M 1 5 LOT NUMBER 166.24 1 HISTORIC PM/LD BOUNDARY 1 4 PM 55-12 7 4 7 3 6 3 . ALEXA BREANNE 194 191 190 9 5 192 . 193 . M 5 LOT NUMBER 166.2 7 8 4 6 PM 55-12 5 1 5 1 0 7 166.28 2 7 . 8 6 SECTION LINE 3 . 7 ALEXA BREANNE 5 . 5.46 1 16 18 8 6.2 7 8 0 3 7 6 Rev: 02/08/2011 5 1 5 1 0 Scale: 1" = 200 ' 0 4 166.28 0 100 200 2 400 600 800 7 . GL5 GOV. LOT NUMBER 8 SECTION LINE 1 1 7 . 8 1 .46 0 5 1 18 8 1 8 5 7 0 3 6 7 Rev: 02/08/2011 . Scale: 1" = 200 ' 0 4 ESTATES 8 0 100 200 400 600 800 1 7 4 GL5 G5 OV. LOT NUMBER 1 2 1 1 . 3 8 1 3 0 3 . 8 5 9 2 1 5 1 5 6 7 . 3 ESTATES 8 . 1 . 5 4 5 1 1 8 1 2 4 3 9 1 3 7 40 3 3 . 6 5 9 2 1 1 8 7 5 1 2 . 3 3 . 4 7 . 5 7 7 1 1 1 8 4 3 2 2 1 9 . 7 4 40 3 7 . 6 7 1 1 8 7 2 2 5 2 1 40 30 1 .