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305 North Nellis Boulevard,...

Glen Una Management Acquires Retail Property In Las Vegas For $25M
SOLDRetail

Glen Una Management Acquires Retail Property In Las Vegas For $25M

305 North Nellis Boulevard, Las Vegas, Nevada 89110, United States

$25,000,000

$301,204/SF

Building Size

83 SF

Asset Type

Retail

Closing

Nov 14, 2022

AI

A retail property located at 305-325 North Nellis Blvd. in Las Vegas has been sold for $25,000,000. The property, situated on 7.5 acres of land, spans a total of 83,930 square feet. The sale price per square foot is $298. The transaction took place on November 14, 2022.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $25,000,000
  • Address: 305-325 North Nellis Blvd.
  • Market: Las Vegas
  • Acres: 7.5

The buyer of the property is Glen Una Management, while the seller is Omninet Capital. The deal was facilitated by the following brokers from Cushman & Wakefield: Marlene Fujita Winkel, Charles Moore, Emily Brun, and Alex Casingal.

Players

Marlene Fujita Winkel

Cushman & Wakefield

Broker

$381.7M

vol

10 deals

Broker

Glen Una

Management

Buyer

$25M

vol

2 deals

Buyer
OC
Omninet CapitalSeller

Las Vegas Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93