Recently Renovated Professional Office-Sale Leaseback+multi-tenant space

Highlights

• • Recent renovation (2014, cost of approx $1.85 m)
• • Built in 2001
• • Stable rent roll
• • Modern interior features
• • Multiple new A/C units
• • Over $100,000 in recent Capex
• • Security gated courtyard
• • Building is 31,106+-Sq.ft.
• • Seller is the largest occupant and seeks a sale-leaseback
• • Property is offered at a 7.26% Cap Rate on Trailing 12 NOI
• • 30 covered parking spots
• • C-1 (City of Las Vegas) zoning

Description

8290 W. Sahara Ave is a modern two story office with an elevator. The building is principally two-portions with the larger space divisions on one side and smaller, multi-tenant spaces on the other side, which are joined by elevated walkways that overlook a garden courtyard.

A majority of the building was renovated in 2014. Capital improvements include a significant renovation from the studs to high class tenant improvements in the largest spaces (approx $1.85 m). This includes substantive built-ins, technology features and modern finishes. Additional Capex includes replacement of nearly half of the A/C units. Nearly $100,000 was spent on the courtyard. Overall improvements are close to $2 million. Multi-tenant space tenants control entry through a gated courtyard. The courtyard is utilised for special events. Water features and vegetation enhance this gathering space.

The offered property is located in the west valley near Durango and Sahara, close to The Lakes area
and Canyon Gate Country Club. The property is within convenient distance to
Summerlin, the 215 (10-12 minutes away) and Summerlin Parkway (10-11 minutes away).