4501- Paradise Rd Las Vegas, NV 89169
High-yield, multi-tenant retail center.
Property size:
143,312 SFProperty 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
Listing Agency: SRS National Net Lease Group Listing Agent: Chuck Klein
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Location Intelligence
Current Use by Public Records
Lifestyle centers
Location Insight
- Map
- Local Demand
- 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.