8678 Spring Mountain RdLas Vegas, NV 89117
- Retail properties
- 8,468 SF
Property Details for 8678 Spring Mountain Rd
- Year built
- 2000
- Construction
- FRAME
- Lot size
- 0.72 AC
- Property size (Sq ft)
- 8,468 SF
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 163-17-515-028
- APU
- 16317515028
Description
This exceptional investment opportunity presents a fully occupied, single-story office building totaling 9,687 square feet situated on a 0.72-acre lot in the desirable West Las Vegas submarket. The property, built in 2000, boasts a strong 6.45% cap rate and a substantial net operating income (NOI) of $187,000, reflecting a 100% occupancy rate. The building is comprised of three units, currently leased to a mix of tenants. A prominent neck and back clinic occupies a significant portion of the space under a lease extending through November 2028. Another tenant is on a month-to-month agreement, and a third tenant's lease expires in July 2024, with a two-year renewal option. The property is zoned Commercial Professional (CP) and enjoys a prime location at 8678 Spring Mountain Rd, Las Vegas, NV 89117, conveniently located north of the northwest corner of Durango and Spring Mountain Roads, directly across from Desert Breeze Park. Its strategic position offers easy access to Summerlin, The Lakes, and the 215 freeway, catering to a high-income demographic with a median household income exceeding $63,642 within a 3-mile radius. This presents a compelling investment opportunity with significant potential for long-term growth and stable cash flow. The asking price is $2,750,000. APN: 163-17-515-028.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,704,262
- 6.5%
- $2,496,242
- 7%
- $2,317,939
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,275,341
- Geo Method
- $4,275,341
-
Alternative Use
- Use
- Valuation
- Residential
- $2,105,674
- Hospitality
- $1,928,786
- Educational
- $1,604,727
- Medical
- $1,659,916
- Retail
- $2,496,242
Location Insight
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Latitude
- 36.1275
- Longitude
- -115.281
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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