1020 Desert Inn Rd Las Vegas, NV 89109-2858
- High-rise multifamily apartments
- 121,500 SF
- 1.89 lot acres
Current Use by Public Records
- Modern High-Rise with Views of The City / Holiday Apartment
- Mark One Apartments / Apartment Complex
- Amazing 2/B 2/B suite behind convention Center / Serviced Apartment
- Predecessor Consulting Group LLC / Car Rental Agency
- CR GROUP / Investment Service
Property Details for 1020 Desert Inn Rd
- Year built
- 1975
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.89 lot acres
- Property size
- 121,500 SF
- Property type
- High-rise multifamily apartments
- APN
- 162-10-803-012
- APU
- 16210803012
Description
This exceptional 1,470 square foot retail space is located on the ground floor of a fifteen-story, 113-unit apartment building at 1020 E Desert Inn Rd, Las Vegas, NV 89109. The property, situated on a 1.89-acre lot, offers a unique opportunity for a single-tenant retail business. Built in 1975, the building features one building with a single story of retail space and fifteen stories of residential units, providing a built-in customer base. The property includes an elevator. The Clark County Assessor's Parcel Number (APN) is 162-10-803-012. This location boasts high visibility and foot traffic, benefiting from its proximity to the Las Vegas Strip and the University of Nevada, Las Vegas (UNLV). A tenant improvement allowance may be available for qualified tenants. Estimated net operating expenses (NNNs) for 2023 are $0.50 per square foot, subject to change. This is a rare opportunity to establish a retail presence in a high-demand area with a captive audience. The property offers significant potential for growth and success.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $25,110,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $21,220,000
- 6.5%
- $24,055,000
- 7%
- $21,730,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $19,655,000
- Geo Method
- $22,965,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $22,770,000
- Retail
- $23,820,000
- Mixed-Use
- $23,530,000
- Hospitality
- $19,670,000
- Educational
- $23,115,000
- Residential Income
- $23,815,000
- Energy
- $22,675,000
- Income-Based Land
- $24,830,000
- Food Service
- $20,405,000
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.141
- Latitude
- 36.1303
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
