2300 Western Ave Las Vegas, NV 89102-4800
- Gas stations
- 1,684 SF
- 0.70 lot acres
Current Use by Public Records
- Vegas Renewable Diesel / Gas Station
Property Details for 2300 Western Ave
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.70 lot acres
- Property size
- 1,684 SF
- Property type
- Gas stations
- APN
- 162-04-404-001
- APU
- 16204404001
Description
This exceptional investment opportunity presents a thriving multi-tenant retail complex in Las Vegas, Nevada. The property encompasses a newly renovated 3,915 square foot building on a 0.7-acre lot, featuring a brand-new 76-branded fueling station with eight dispensers providing three grades of gasoline, on-road and off-road diesel, DEF, and propane. Completed in 2024, the property also includes a newly constructed 1,670 square foot building with two roll-up doors, designed to accommodate additional automotive-related businesses. Four drive-thru bays are also available, ideal for quick-lube or similar operations. The property boasts five tenants with a 95% occupancy rate, generating a strong net operating income (NOI) of $822,000 and a 11.83% cap rate. Two dedicated food/coffee truck spaces are projected to yield an additional $7,000 per month in revenue. The property is zoned M (Industrial) within a Las Vegas redevelopment area, potentially eligible for city incentives. Built in 1965 with renovations completed in 2024, this Class B property is offered at $6,950,000. Owner will consider owner-will-carry financing, ground lease, or lease-to-own options. The 2024-2025 real estate taxes are $5,412.36. The property's prime location, just north of West Sahara Avenue, east of US I-15, and with frontage on two well-traveled streets, ensures high visibility and accessibility. Included in the sale are the point-of-sale system, shelves, pumps, general lube equipment, propane tanks, cash register, underground fuel tanks, compressor, trash cans, receptacles, and dumpsters.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $730,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $780,000
- 6.5%
- $790,000
- 7%
- $840,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $735,000
- Geo Method
- $835,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $875,000
- Retail
- $855,000
- Mixed-Use
- $805,000
- Hospitality
- $850,000
- Educational
- $760,000
- Residential Income
- $865,000
- Energy
- $990,000
- Income-Based Land
- $715,000
- Food Service
- $795,000
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.166
- Latitude
- 36.1469
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
