Current Use by Public Records
- Warehouses
Property Details for 3260 Lamb Blvd
- Year built
- 2023
- Property type
- Warehouses
- Property subtype
- Refrigerated & Cold Storage
Description
This exceptional investment opportunity presents two Class A distribution buildings totaling 238,516 square feet, situated in the highly desirable North Las Vegas submarket. Built in 2023, these buildings boast state-of-the-art features including 32-foot ceilings and 56 dock-high doors. One building, a 166,486 square foot cross-dock facility, is currently available for lease, while the second, a 72,030 square foot building, is 100% leased to a mission-critical tenant, Vesta Food Service, providing immediate cash flow. The property benefits from a premium location, just seven minutes from Interstate 15, offering excellent access to major transportation routes serving the Western United States. The location also provides proximity to a significant population base, exceeding 2.3 million people within a 25-mile radius. The property features ample truck courts (130-190 feet), excellent drive-around capability, and multiple ingress/egress points. The buildings are zoned IP and have a compelling basis relative to replacement cost, estimated at $269 per square foot. The North Las Vegas submarket exhibits strong demand, recording 70% of Las Vegas's net absorption year-to-date, with vacancy in the sub-200,000 square foot range significantly tighter than the market average. This property offers exceptional rent growth potential, with average annual rent growth exceeding 10.5% since 2020. The property consists of two buildings located at 3260 and 3360 N Lamb Blvd, Las Vegas, NV 89115, with APN 140-08-401-020. The current occupancy is 30%.
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
- -115.08
- Latitude
- 36.2194
