Russell Crossings| Las Vegas, NV
5651 S. Grand Canyon Dr., Las Vegas, NV 89148
Description
Sun Commercial Real Estate, Inc. is pleased to offer an exceptional opportunity to purchase Russell Crossings, a 90% occupied neighborhood retail center building with two build ready pads located at 5651 S. Grand Canyon Drive. The Property includes a 12,874 square foot retail center with two (2) graded retail pads with one having the option for a drive-thru. The center is located on the Northwest corner of Grand Canyon Drive and Russell Road providing direct exposure and LED signage.
Located in the heart of the Southwest submarket, the property is situated on the NWC of Grand Canyon Dr., and Russell Rd., having the civic address of 5651 Grand Canyon Dr., Las Vegas, Nevada.
Russell Crossings
Retail Property
Price: $
Gross Leasable Area: 12,874 SF
Price/SF: $
Property Type: Retail
Property Sub-type: Strip Center
Property Use Type: Investment
Cap Rate: 6.10%
Occupancy: 90%
No. Stories: 1
Tenancy: Multiple
Year Built: 2008
Lot Size: 2.55 AC
APN / Parcel ID: 163-30-418-005
Listing ID: 19404108
Last Updated: 20 days ago
Net Operating Income: $237,900
Stabilized cash flow with 90% occupied multi-tenant retail building Value-add potential through further lease up of remaining retail building and development or ground lease of the remaining 0.38 acres.
Two (2) graded retail pads with drive-thru option.
Additional traffic brought to the center with Speedee Mart on the hard corner, Animal Hospital on NE corner and 7-11 and Dotty' s across the street.
Excellent access and high-profile LED signage.
Approximately one mile west of the I-215 Beltway/Russell Rd. intersection, providing easy access to I-15, the Las Vegas Strip, and McCarran International.
Location Description
This is an excellent neighborhood center amongst densely populated residential neighborhoods in a quickly developing submarket. Located within 1/2 mile from 3 schools (Bishop Gorman High School, Kathy Batterman Elementary School, and Victoria Feritta Middle School), the center includes tenants such as a frozen yogurt shop, Vietnamese restaurant, smoke shop, and a nail salon. The property is approximately one mile west of the I-215 Beltway/Russell Rd. intersection, providing easy access to I-15, the Las Vegas Strip, and McCarran International Airport. As of 2015, there are approximately 247,006 residents living within a five (5) mile radius with an average household income of $75,513.