250 240 & 150 HwyPahrump, NV 89048

Property Details for 250 240 & 150 Hwy

Year built

1998

Lot size

3.02 AC

Property size (Sq ft)

37,850 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This 37,850 square foot shopping center in Pahrump, Nevada, presents a compelling investment opportunity. Located at 250, 240 & 150 Highway 160, this multi-tenant property boasts 90% occupancy and a strong Net Operating Income (NOI) of $694,044. Built in 1998 and renovated in 2004, the center sits on a 3.02-acre lot with ample parking (735 spaces). The property is zoned GC – General Commercial and features a desirable tenant mix, including 39% restaurant tenants. Key anchors include Albertsons and CVS, ensuring consistent traffic. The center benefits from its prime location in Pahrump's main retail hub, near major retailers like Home Depot and Walmart, attracting over 2,000,000 visitors annually. The property's tenant suites average 65 feet in depth, offering excellent frontage. With a current 10% vacancy, there's immediate potential for increased revenue. Financial projections indicate a 7.6% cash-on-cash return in year two with 50% leverage and a 15.91% levered IRR over five years. The property's APN is 038-213-43, 038-213-30 & 038-213-42. This is a rare opportunity to acquire a well-established, high-performing retail center in a growing market. The asking price is $9,567,500, and the lease type is NNN.

Location Insight

City

Pahrump

County

Nye

State

Nevada

Latitude

36.2165

Longitude

-115.994

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