Multi-Tenant Industrial
New
For Sale
$6,500,000
2075 Palm St & 3259 Palm Pkwy, Las Vegas, NV 89104
Automotive tenants occupy a multi-building property with a secured yard and fire-sprinklered buildings.
Property Size32,200 SF
Lot Size2.23 Acres
Price / SF$201.86
Days on Market2
Property Features for 2075 Palm St & 3259 Palm Pkwy
General Information
Standard status
Active
Size
32,200 SF
Lot size
2.23 Acres
Property subtype
Industrial
Zoning
IL
Occupancy
94%
Net Operating Income
$293,914
Financials
Asking Price
$6,500,000
Gross Income
$430,430
Opportunity Zone
Yes
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Office Build-Out
1,800 SF
Sprinkler System
Yes
Building Details
Building Size
32,200 SF
Year Built
1976
Buildings
3
Tenancy
Multi
Listed By:
Erik Sexton, SIOR · License ##S.0067183.PLLC
(702) 534-1711
Source:
Naiglobal
Added: Oct 7
Last Checked: Oct 7 at 2:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Erik Sexton, SIOR
Investment Insights
Based on property information with market context.
This industrial property comprises three buildings totaling approximately 32,200 square feet on approximately 2.23 acres. It is 94% leased to 13 tenants across 18 units, with suites ranging from approximately 900 to 3,800 square feet. The tenant mix is primarily automotive and auto body businesses, alongside a Dotty's bar and gaming location. Features include fire sprinklers, a fenced and secured yard, and poured-concrete parking areas. One 1,800-square-foot office is vacant, and three spaces are leased month to month.
The property is in an Opportunity Zone in Central Las Vegas, minutes from Downtown Las Vegas, I-11, and I-15. It is zoned IL (Industrial Light). Eleven of 15 leases include scheduled rent increases, with lease terms extending into 2029. The property was built in 1976.
The property is in an Opportunity Zone in Central Las Vegas, minutes from Downtown Las Vegas, I-11, and I-15. It is zoned IL (Industrial Light). Eleven of 15 leases include scheduled rent increases, with lease terms extending into 2029. The property was built in 1976.
Key Highlights
- Approximately 32,200 SF across 3 buildings on approximately 2.23 acres
- 94% leased to 13 tenants across 18 units
- IL (Industrial Light) zoning; tenant mix is primarily automotive and auto body operators
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,283
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,825,660
$3.8M
Cap Rate 7%
$2,732,614
$2.7M
Cap Rate 9%
$2,125,367
$2.1M
Market Conditions
NOI Build-Up for 32,200 SF
Gross rent
$309.1K $9.60/SF
− Vacancy
−$35.9K −$1.11/SF
EGI
$273.3K $8.49/SF
− OpEx
−$82.0K −$2.55/SF
NOI
$191.3K $5.94/SF
Area
Las Vegas, NV
Vacancy
11.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,825,660
Cap Rate 7%
$2,732,614
Cap Rate 9%
$2,125,367
Alternative Uses
Best Use
Retail
$10.38M
$9.09M – $12.12M
NOI $726,929 @ 7.0% cap · market cap 11.18%
Second Best
Industrial
$2.73M
$2.39M – $3.19M
NOI $191,283 @ 7.0% cap · market cap 2.94%
Theoretical Best
Specialty Retail
$11.13M
$9.74M – $12.98M
NOI $778,852 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
94%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
Median Home Value
Market
Vacancy Rate% for Industrial in Las Vegas, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Automotive tenants occupy a multi-building property with a secured yard and fire-sprinklered buildings.
Where is this industrial property located?
The property is located at 2075 Palm St & 3259 Palm Pkwy Las Vegas, NV.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Approximately 32,200 SF across 3 buildings on approximately 2.23 acres; 94% leased to 13 tenants across 18 units; IL (Industrial Light) zoning; tenant mix is primarily automotive and auto body operators
