Private Investor Acquires 31,086 Square Foot Retail Property In Las Vegas For $6.2M

The property involved in this transaction is a retail asset located at 2420 East Desert Inn Road, Las Vegas, NV. The sale occurred for a total amount of $6,200,000, encompassing an area of 31,086 square feet on a 2.56-acre site. This property has been leased to Ross Dress for Less for an extended period of over 40 years, and it operates within the Francisco Center, making it a significant retail location in the market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,200,000
• Square Footage: 31,086
• Price per Square Foot: $199
• Cap Rate: 6.59%
• Address: 2420 East Desert Inn Road, Las Vegas, NV
• Acres: 2.56

The brokers representing the transaction are Patrick Luther and Matthew Mousavi from SRS Real Estate Partners, who facilitated the acquisition by a private Southern California investor. Their involvement ensured a successful transaction within a competitive retail market.