PECOS & RUSSELL COMMERCIAL 3380 E Russell Road, Las Vegas, NV OFFERING MEMORANDUM C SQUARED REAL ESTATE SERVICES, LLC 7251 LINDELL ROAD, SUITE D, LAS VEGAS, NV 89103 (O) 702.938.4241 (F) 702.425.5606 www.c2lasvegas.com
DISCLOSURE & CONFIDENTIALITY AGREEMENT This offering memorandum has been prepared to provide information to prospective Buyers. It does not, however, purport to present all material information regarding the subject property and it is not a substitute for a thorough investigation by the prospective Buyers. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. C2 Real Estate Services will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. C2 Real Estate Services makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. C2 Real Estate Services has not made any investigation, and makes no warranty or representation with respect to the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue or renew its occupancy of the subject property. C2 Real Estate Services does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. All market analysis projections are provided for reference purposes only and are based on assumptions relating to general market conditions, competition and other various market indicators. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. The information contained herein is strictly confidential. It is intended for the sole party receiving it directly from C2 Real Estate Services, and should not be made available to any other person without the direct consent of C2 Real Estate Services.
EXECUTIVE SUMMARY PECOS & RUSSELL COMMERCIAL OFFERING DETAILS: List Price: $1,150,000.00 APN # 162-25-815-002 Building SF 11,520 SF Year Built 1997 Price per SF $99.83/SF Site Size 1.10 acres NOI To be verified Zoning C-1 Clark County Stabilized Proforma CAP 9.45% Occupancy 60% Parking To be verified Construction Frame & Stucco AREA DESCRIPTION: PROPERTY DESCRIPTION: The subject property is an 11,520 SF Multi-Tenant building originally built in 1997 and is currently demised into 12 units, 5 of which are currently occupied by Priceless Furniture. Existing improvements are reflective of the intended use and are in fair condition requiring minimal refurbishing to get existing suites into a turnkey condition. The building sits on a well maintained, 1.10 acres and is located in a well established retail corridor on the northwest corner of the highly travelled, signalized intersection. Area demographics offer a strong profile for the intended use with a dense residential population and support from related retail and office uses. The Pecos & Russell commercial area is located in a well established retail corridor on the northwest corner of the highly travelled, signalized intersection of N Pecos Road and E Russell Road which offers visibility to an annual average of over 46,000 cars per day (NDOT 2010). The property is surrounded by dense residential and is well supported by related retail and office uses. Located in the central/east, southeast of the Las Vegas Valley, the property sits within convenient distances of the famous Las Vegas Strip and minutes away from McCarran International Airport and UNLV. Major highways serving the subject area include I-15, US 95, US 93, and the 215 Beltway. PROUDLY OFFERED BY: C SQUARED REAL ESTATE SERVICES, LLC 7251 Lindell Road, Suite D Las Vegas, NV 89103 (O) 702.938.4241 (F) 702.425.5606 www.c2lasvegas.com Paul Chaffee paul.chaffee@c2lasvegas.com 702.218.8404 Wil Chaffee wil.chaffee@c2lasvegas.com 702.217.1597
PROPERTY PHOTOS - EXTERIOR The information contained herein was obtained from sources we deem reliable, however, C2 Real Estate Services makes no guarantees, warranties, or representations as to the accuracy thereof. All information should be verified prior to contract.
PROPERTY PHOTOS - EXTERIOR The information contained herein was obtained from sources we deem reliable, however, C2 Real Estate Services makes no guarantees, warranties, or representations as to the accuracy thereof. All information should be verified prior to contract.
PROPERTY PHOTOS - AERIAL SUBJECT PROPERTY
PROPERTY PHOTOS - AERIAL SUBJECT PROPERTY
PROPERTY PHOTOS - LOCATION MAP
DEMOGRAPHIC & INCOME PROFILE SUMMARY 1 MILE 3 MILE 5 MILE 2011 Total Population 11,017 149,666 382,882 2011 Total Households 4,606 59,085 151,507 % Population Change 1990-2011 39.21% 46.65% 77.13% % Household Change 1990-2011 58.99% 43.25% 61.81% % Population Change 2000-2011 6.58% 6.06% 10.96% % Households Change 2000-2011 7.94% 5.19% 8.57% 2011 Median Household Income $62,061 $50,933 $50,286 2011 Per Capita Income $31,559 $25,915 $25,418 2011 Average Household Income $75,485 $65,645 $64,236 HOUSEHOLDS BY INCOME 1 MILE 3 MILE 5 MILE Household Income < $10,000 162 3,351 9,143 Household Income $10,000-$14,999 106 2,117 6,741 Household Income $15,000-$19,999 118 2,981 8,332 Household Income $20,000-$24,999 156 3,394 9,346 Household Income $25,000-$29,999 103 3,146 8,673 Household Income $30,000-$34,999 144 3,845 9,251 Household Income $35,000-$39,999 151 3,333 8,597 Household Income $40,000-$44,999 197 3,316 7,780 Household Income $45,000-$49,999 414 3,409 7,469 Household Income $50,000-$59,999 671 6,971 14,650 Household Income $60,000-$74,999 582 6,342 15,977 Household Income $75,000-$99,999 1,030 6,426 17,184