Stewart Square

39,600 SF | 91% Leased | Retail Building | Las Vegas, NV 89101 | $7,500,000 ($189/SF) | 7.33% Cap Rate

Asking Price $7,500,000

Property Type: Retail
Square Feet: 39,600 SF
Price / Square Foot: $189

Listing Contacts

Michael Zhang

Verified Profile

Chris Emanuel

Verified Profile

Property Info

Property Overview

This is an investment opportunity to purchase a fee simple interest in 235 N Eastern Ave (Stewart Square), a neighborhood shopping center in the center of Las Vegas, NV. 91% leased up (3,600 square feet / 2 units vacant), this is a core property that has upside value add characteristics as well.
- On a signalized corner of Stewart Ave and N Eastern Ave with over 96,000 CPD.
- NNN leases.
- Average rents are $1.21 per month with upside with some TLC (e.g. paint, signage, landscaping, etc.)
- Property is priced to sell at a 7% cap rate on 2024 pro forma numbers (current owner also manages and leases the property in-house).

Property Details

Class: C
Year Built: 1973
Stories: 1
Property Subtype: Freestanding, Grocery/Convenience Store, Storefront, Storefront Retail/Office
Lot Size (sq. ft): 155,945 SF

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