Single-Tenant Office

Net Leased Office - Las Vegas

4089 N Rancho Dr, Las Vegas, NV 89130

Listing Price: $1,335,000

Cap Rate
8.64%
Gross SF
9,542
Rentable SF
9,542
Price/Gross SF
$139.91
Lot Size
0.64 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to present an opportunity to acquire the property located at 4089 North Rancho Drive. This is a 9,542 square foot office building which is currently 100% occupied by a single tenant church with a portion of the space dedicated to a fitness center, utilized by the members of the church. The parcel is 0.64 acres and rectangular in shape and provides both covered and uncovered parking spaces to the tenant. The property is located at the rear portion of the Rancho Alexander Business Park. This business park includes 15 buildings with retail fronting Rancho Drive and office at the rear. This mixed-use development lies just south of the highly trafficked signalized intersection of North Rancho Drive and West Craig Road, which is exposed to over 60,000 vehicles per day. The property is easily accessible to both north and southbound traffic. The property was built in 2005 and is currently being utilized by Cornerstone Family Worship Church who is operating under a long triple net lease which is due to expire in a little over two years with no options to renew. Due to the upcoming rental increases, the net operating income will increase over 20% over the remaining lease term, bringing the cap rate (at list price) from 8.64% to 10.4% by June of 2022.

Investment Highlights

  • Rent Scheduled to Increase by Over 20% By June of 2022
  • Long Term Tenant on Triple Net Lease
  • Easily Accessible from Both Directions of Traffic on Rancho Drive (33,500 VPD)

Exclusively Listed By

Financing By

Single-Tenant Office

Net Leased Office - Las Vegas

Listing Price: $1,335,000

Cap Rate
8.64%
Gross SF
9,542
Rentable SF
9,542
Price/Gross SF
$139.91
Lot Size
0.64 acres
Year Built
2005

Investment Highlights

  • Rent Scheduled to Increase by Over 20% By June of 2022
  • Long Term Tenant on Triple Net Lease
  • Easily Accessible from Both Directions of Traffic on Rancho Drive (33,500 VPD)

Investment Overview

Marcus & Millichap is pleased to present an opportunity to acquire the property located at 4089 North Rancho Drive. This is a 9,542 square foot office building which is currently 100% occupied by a single tenant church with a portion of the space dedicated to a fitness center, utilized by the members of the church. The parcel is 0.64 acres and rectangular in shape and provides both covered and uncovered parking spaces to the tenant. The property is located at the rear portion of the Rancho Alexander Business Park. This business park includes 15 buildings with retail fronting Rancho Drive and office at the rear. This mixed-use development lies just south of the highly trafficked signalized intersection of North Rancho Drive and West Craig Road, which is exposed to over 60,000 vehicles per day. The property is easily accessible to both north and southbound traffic. The property was built in 2005 and is currently being utilized by Cornerstone Family Worship Church who is operating under a long triple net lease which is due to expire in a little over two years with no options to renew. Due to the upcoming rental increases, the net operating income will increase over 20% over the remaining lease term, bringing the cap rate (at list price) from 8.64% to 10.4% by June of 2022.

Exclusively Listed By

Financing By

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