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Clark County Acquires Mixed-Use Building In Las Vegas For $8.6M
SOLD
$8,600,000
Nevada
See Similar DealsMixed-use35,000 SF
Sold 09/28/2023
SOLD
Clark County Acquires Mixed-Use Building In Las Vegas For $8.6M
300 South Martin Luther King Jr Boulevard
See Similar DealsMixed-use35,000 SF
Sold 09/28/2023
Summary
NEVADA
Asset Type:Mixed-use
Price Per Square Foot:$245
Total Square Footage:35,000 SF
Transaction Type:Sale
Clark County has purchased a mixed-use property in downtown Las Vegas for $8.6 million. The property, located at 300 South Martin Luther King Jr Boulevard, spans 35,000 square feet.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $8,600,000
- Address: 300 South Martin Luther King Jr Boulevard, Las Vegas, NV
- Square Footage: 35,000
- Price Per Square Foot: $246
- Buyer: Clark County
- Seller: Mark Fine
- Broker: Marlene Fujita Winkel - Cushman & Wakefield
The Children's Advocacy Center Foundation will be the future tenant of the purchased property. This acquisition represents an important step for Clark County in providing a dedicated space for the foundation's valuable work.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$458,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,553.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,768.39
Annual Debt Service$489,220.65
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