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Remington Nevada Sells Mountain’s Edge Marketplace In Las Vegas For $50.3 Million

Property Image
SOLD
$50,300,000
Roy Fritz
Preston Fetrow

Nevada

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Retail115,037 SF
Sold 01/15/2025
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Property Image
SOLD

Remington Nevada Sells Mountain’s Edge Marketplace In Las Vegas For $50.3 Million

7975 Blue Diamond Road

See Similar Deals
Retail115,037 SF
Sold 01/15/2025
Roy Fritz
Preston Fetrow
the dealplayerscompscontact
Contact now

Summary

NEVADA
Asset Type:Retail
Price Per Square Foot:$437
Total Square Footage:115,037 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail center located at 7975 Blue Diamond Road in Las Vegas, NV. It encompasses 14.7 acres and has a total square footage of 115,037. The sale price for the asset was $50,300,000, which breaks down to a price per square foot of $437.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $50,300,000
  • Address: 7975 Blue Diamond Road
  • Market: Las Vegas, NV
  • Acres: 14.7
  • Square Feet: 115,037
  • Price Per Square Foot: $437
  • Seller: Remington Nevada
  • Broker Representatives: Preston Fetrow & Roy Fritz - CBRE

This transaction involved Remington Nevada as the seller of the Mountain’s Edge Marketplace, with the buyer assuming a $33 million CMBS loan. The retail center is reported to be 98% leased, featuring tenants such as Ross, Planet Fitness, and Starbucks.

Players

Preston Fetrow
CBRE
Preston Fetrow
6 deals$215.2M volume
BROKER
Roy Fritz
CBRE
Roy Fritz
2 deals$58.2M volume
BROKER

Details

SOLD
IMAGE: 01/15/2025 ADDRESS: 7975 Blue Diamond Road MARKET: Las Vegas, NV ASSET TYPE: Retail ~ ACRES: 14.7 SELLER: Remington Nevada BROKERS: Preston Fetrow & Roy Fritz - CBRE SALE PRICE: $50,300,000 SF: 115,037 ~ PPSF: $437 NOTE: Remington Nevada sold Mountain’s Edge Marketplace in Las Vegas for $50.3 million, with the buyer assuming a $33 million CMBS loan. The 115,037-square-foot retail center is 98% leased and includes tenants like Ross, Planet Fitness, and Starbucks.

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

$2,682,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$178,705.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$238,447.66
Annual Debt Service$2,861,371.94