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Gerrity Group Sells Retail Property In Las Vegas, Nevada For $41.17M

Property Image
SOLD
$41,170,000
Gleb Lvovich
Carl Beardsley
+ 1

Nevada

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Retail119,280 SF
Sold 09/19/2022
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Property Image
SOLD

Gerrity Group Sells Retail Property In Las Vegas, Nevada For $41.17M

7101 W Craig Rd, Las Vegas, Nevada 89129, United States

See Similar Deals
Retail119,280 SF
Sold 09/19/2022
Gleb Lvovich
Carl Beardsley
+ 1
Contact now

Summary

NEVADA
Asset Type:Retail
Price Per Square Foot:$345
Total Square Footage:119,280 SF
Transaction Type:Sale

The retail property located at 7101- 7181 West Craig Rd in Las Vegas, Nevada has been sold for a total price of $41,170,000. The property spans a total area of 119,280 square feet, resulting in a price per square foot of $345. The sale of this asset was facilitated by Gleb Lvovich and Daniel Tyner from JLL Capital Markets, who represented the seller, Gerrity Group. Additionally, John Marshall and Carl Beardsley, also from JLL Capital Markets, served as mortgage brokers in the transaction.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $41,170,000
  • Address: 7101- 7181 West Craig Rd, Las Vegas, Nevada
  • Market: Las Vegas, Nevada
  • Square Footage: 119,280
  • Price per Square Foot: $345
  • Seller: Gerrity Group
  • BROKERS: Gleb Lvovich & Daniel Tyner - JLL Capital Markets
  • MORTGAGE BROKERS: John Marshall & Carl Beardsley - JLL Capital Markets

The sale of this retail property represents a significant transaction in the Las Vegas market. The involvement of key individuals such as Gleb Lvovich, Daniel Tyner, John Marshall, and Carl Beardsley from JLL Capital Markets highlights the expertise and experience brought into the deal.

Players

Carl Beardsley
7 deals$720.7M volume
BROKER

Daniel Tyner
JLL
63 deals$2B volume
BROKER

Gleb Lvovich
JLL
62 deals$2.2B volume
BROKER

John Marshall
JLL
7 deals$440.2M volume
BROKER

Gerrity Group
SELLER

Details

SOLD
IMAGE: Carl Beardsley, Daniel Tyner, John Marshall & Gleb Lvovich DATE: 09/19/2022 ADDRESS: 7101- 7181 West Craig Rd MARKET: Las Vegas, Nevada ASSET TYPE: Retail SELLER: Gerrity Group BROKERS: Gleb Lvovich & Daniel Tyner - JLL Capital Markets MORTGAGE BROKERS: John Marshall & Carl Beardsley - JLL Capital Markets SALE PRICE: $41,170,000 SF: 119,280 ~ PPSF: $345

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,195,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$146,268.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$195,166.80
Annual Debt Service$2,342,001.65