Clark County Acquires Mixed-Use Building In Las Vegas For $8.6M
300 South Martin Luther King Jr Boulevard
$8,600,000
$245/SF
Building Size
35,000 SF
Asset Type
Mixed-use
Closing
Sep 28, 2023
AI
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.
Atlantic City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93