Dornin Investment Group Sells Office Building In Las Vegas For $23.2M
SOLD
$23,200,000
Nevada
See Similar DealsOffice71,378 SF
Sold 07/25/2022
SOLD
Dornin Investment Group Sells Office Building In Las Vegas For $23.2M
6725 Via Austi Parkway, Las Vegas, Nevada 89119, United States
See Similar DealsOffice71,378 SF
Sold 07/25/2022
Summary
NEVADA
Asset Type:Office
Price Per Square Foot:$325
Total Square Footage:71,378 SF
Transaction Type:Sale
The Dornin Investment Group has recently sold an office property located at 6725 Via Austi Parkway in Las Vegas, NV for a price of $23,200,000. The property spans an area of 71,378 square feet, resulting in a price per square foot of $325. Marlene Fujita Winkel, Charles Moore, and Alex Casingal from Cushman & Wakefield acted as the brokers in this transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $23,200,000
- Address: 6725 Via Austi Parkway, Las Vegas, NV
- Market: Las Vegas, NV
The sellers in this deal were the Dornin Investment Group, while the buyer's representative was Marlene Fujita Winkel, Charles Moore, and Alex Casingal from Cushman & Wakefield. This transaction highlights the strong demand for office properties in the Las Vegas market, with the property being sold at a significant price per square foot of $325.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,424.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,979.84
Annual Debt Service$1,319,758.03
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