Current Use by Public Records
- Lifestyle centers
Property Details for 8826-8878 Eastern Ave
- Year built
- 1999
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents Regal Plaza, a 75,995-square-foot shopping center in Las Vegas, Nevada. Located at the hard corner of Eastern Avenue and Pebble Road, this property benefits from high visibility and convenient access via the 215 freeway. The six-building complex, constructed between 1999 and 2002, boasts a diverse tenant mix of 30 retail, restaurant, and professional service businesses, ensuring a stable income stream. Currently operating at 96% occupancy, the property generates a Net Operating Income (NOI) of $1,611,732, with a pro-forma NOI of $1,702,962, reflecting a 7.13% cap rate and a pro-forma cap rate of 7.54%. The asking price is $22,600,000, translating to a price per square foot of $297.39. The property features two large pylon signs visible to over 40,000 vehicles daily. Its CG zoning allows for potential expansion, with approximately 27,000 additional square feet of retail space available for development (see offering memorandum for details). This well-established shopping center offers a strong, sustainable income with significant upside potential, making it an attractive investment for discerning buyers. The property is a Net Lease (NNN) with multi-tenancy.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.116
- Latitude
- 36.0293
