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    4501- Paradise Rd Las Vegas, NV 89169

    For Sale
    $49,000,000

    High-yield, multi-tenant retail center.

    Property size:
    143,312 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 143,312 square foot retail center in Las Vegas, NV, presents a compelling investment opportunity. Boasting a prime location just one block from UNLV's campus and across from Virgin Hotels, this property benefits from high foot traffic and visibility. The 3.29-acre site features 11 tenants, including 7-Eleven, Dunkin', Subway, White Castle, Sbarro's Pizza, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all operating under 100% occupancy with NNN leases. The property offers a weighted average lease term of 6.2 years, minimizing near-term lease-up risk. Built in 1987 and renovated in 2015, the center includes 190 parking spaces and benefits from built-in rent bumps. The property's strong financial performance is reflected in its $49,000,000 asking price, $2,697,653 NOI, and a pro-forma cap rate of 5.5%. Located 1.2 miles from the Las Vegas Strip, this asset is strategically positioned to capitalize on the area's robust tourism and student population. The property's zoning is H-1, and its APN is 162-22-312-001. The net rentable square footage is 31,037, with a price per square foot of $341.91. This is a generational asset with significant upside potential.

    Property Features for 4501- Paradise Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    143,312 SF
    Lot Size
    143,312 SF

    Building Details

    Year Built/Renovated
    1987/2015

    HighLights

    • 143,312 SF retail center in Las Vegas, NV, one block from UNLV and across from Virgin Hotels.
    • 100% occupied with 11 tenants including 7‑Eleven, Dunkin', Subway, White Castle, Sbarro's, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all under NNN leases.
    • 6.2‑year weighted average lease term (WALT), minimizing lease‑up risk.
    • Prime location near the Las Vegas Strip, UNLV, and Virgin Hotels, generating high foot traffic.
    • $49,000,000 asking price, $2,697,653 NOI, and a 5.5% pro‑forma cap rate.
    • 3.29‑acre site with 190 parking spaces, built in 1987 and renovated in 2015. APN: 162‑22‑312‑001, Zoning: H‑1.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1325897
    Latitude
    36.1295416

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield, multi-tenant retail center.
    Where is this lifestyle center located?
    The property is located at 4501- Paradise Rd Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $49,000,000.
    What are key features of this property?
    This property features: 143,312 SF retail center in Las Vegas, NV, one block from UNLV and across from Virgin Hotels.; 100% occupied with 11 tenants including 7-Eleven, Dunkin', Subway, White Castle, Sbarro's, Roberto's Taco Shop, Liquor World, Tropical Smoothie, and Teriyaki Madness, all under NNN leases.; 6.2-year weighted average lease term (WALT), minimizing lease-up risk.
    Request Owner's contact information
    4501- Paradise Rd Las Vegas, NV 89169
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    Las Vegas, NV 89169
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4501- Paradise Rd Las Vegas, NV 89169
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