For Sale. ±3.83 Acres R-4 Zoning High Density Residential Site. On Russell Road & Mountain Vista, Las Vegas, Nevada SITE

Transcription

1 Conceptually Designed for MESA RIDGE OFFERING MEMORANDUM 74 Luxury Units For Sale SITE ±.8 Acres R-4 Zoning High Density Residential Site On Russell Road & Mountain Vista, Las Vegas, Nevada 8920

2 Disclaimer SUN COMMERCIAL REAL ESTATE, INC. (the Broker ) has been retained on an exclusive basis to market the property described herein (the Property ). Broker has been authorized by the Seller of the Property (the Seller ) to prepare and distribute the enclosed information (the Material ) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate. The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma. Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto. Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information. Cathy Jones, CPA, SIOR, CCIM CEO cathyj@suncommercialre.com 2

3 For Sale ±.8 Gross Acres Contact Team Michael T. Brazill Senior Associate Jennifer Lehr Senior Associate Jessica Cegavske Vice President Table of Contents Property Overview Section Roy Fritz Senior Vice President Executive Summary Conceptual Plans Location Overview Aerial Photos Ground Level Photos Cathy Jones, CPA, SIOR, CCIM CEO CathyJ@suncommercialre.com Location Overview Section 2 Las Vegas Valley Location Map Assessor Parcel Map 0 Market Overview Section Sun Commercial Real Estate, Inc. 6 Brent Thurman Way, Suite Las Vegas, Nevada Ph Fax Area Demographics 2-4

4 Executive Summary The subject property offers developers and investors a one-of-a-kind opportunity to acquire a ±.8 acre parcel that is located on the Whitney Mesa. The topography of this site provides 60 panoramic views of the entire Las Vegas Valley. The night time views of The World Famous Las Vegas strip are Absolutely Spectacular! The current plan is to develop 74 units on the site. The property consists of ±.8 gross acres, ±. acres of which is buildable. The land is currently zoned R-4 (Multiple Family Residential High Density) The property was previously envisioned for a multifamily development project however it may also be suitable for high end single family residential, restaurant, wedding or entertainment venues. The property is in rough grade condition, curb and gutter work is completed on the access road leading to the top. The East Las Vegas submarket in which the property is located, is benefiting economically from the development of Union Village: A $.2 billion dollar Integrated Health Village offering a complete continuum of care to the valley residents. Sale Price: Assessor Parcel Number: Zoning: $,, R-4 (Multiple Family Residential - High Density) Demographics Mile 5 Mile Population: 58,58,776 Avg. HH Income: $62,990 $62,564 Site Size: ±.8 Gross Acres ±. Acres of Buildable Area Traffic Counts Russell Road: ±22,000 CPD Municipality: Clark County U.S. 95: ±25,000 CPD 208 Taxes: $,977.2 Mountain Vista Street: ±2,000 CPD 4

5 Conceptual Rendering Plans- 74 Units Conceptual Apartment Development Plan - Total Project: 78,584 SF Unit Mix: Studio 487 SF 9 9,25 SF Parking ( Required): Covered 74 Bedroom 664 SF 44 29,26 SF Uncovered 4 2 Bedroom,026 SF,286 SF Total 7 Total 74 49,755 SF 4 Story Construction on top of podium parking level 5

6 Conceptual Podium Parking Level 6

7 Location Overview Union Village is an integrated healthcare village where providers have merged to establish a complete continuum of care. The 245,000-square-foot Hospital is located at Galleria and Gibson, and will be part of a large medical complex, Union Village. Union Village will include residential properties, retail stores, entertainment, and cultural arts center. Las Vegas Athletic Club plans to build its eighth fitness center at Union Village, the new facility will be 85,000 SF. The residential community dubbed Franklin Park will feature units for independent living, 75 units for assisted living, and units for seniors suffering from memory-related problems. Union Village - 70 Acre Healthcare Complex Cowabunga Bay Water Park is one of the best places to cool off in Southern Nevada, especially when the temperature reaches triple digits. The park is 4 acres and provides the local community with a selection of fun water rides to enjoy. The rides include Beach Blanket Banzi, Point Panic, Rock-A-Hoola, Surf-A-Go-Go, Surfin USA, Wild Surf, and Zuma Zooma. The water park features full service restaurants such as Boris Bora Bora Bar, and Bullwinkle s Boardwalk Grille. Frozen treats are available at Cowabunga Chill and Dippin Dots. Cowabunga Bay - 4 Acre Water Park in Henderson Galleria at Sunset (informally referred to as Galleria Mall) is the only enclosed shopping mall in Henderson, Nevada and one of the largest malls in the entire state of Nevada. The layout is a two-story Y shape and includes a total,05,000 square feet of space. The mall offers its shoppers stores and boutiques, including 5 anchors, an indoor car dealership, the community relations office of the Henderson Police Department, and two full service restaurants. The $7 million renovation project includes upgrades to the mall s food court and main spaces, as well as adding extra amenities including free wi-fi throughout the mall. Galleria at Sunset - $7 Million Dollar Renovation 7

8 Aerial Photos 8

9 Ground Level Photos DRIVEWAY LEADING TO SITE LOOKING UP AT THE WHITNEY MESA FROM SITE LOOKING AT LAS VEGAS STRIP SITE LOOKING EAST 9

10 Las Vegas Valley Location Map SUBJECT 0

11 Assessor Parcel Map 8 NOTES NOTES A A C.A. PT C.A PT PM VAC VAC AMBER : DUST AVE : HILLS GOLD DUST AVE See SeeCondo List List Page Page "A" PB PB AMD 002 AMD PB PB R= R= R= R= GREENRIDGE GREENRIDGE PB PB C.A C.A PM PM A GREENRIDGE A PM GREENRIDGE PM ERCIAL PB PB ON PB PB PB PT R=54 PB R= MESA RIDGE VILLAGE MESA RIDGE VILLAGE R= This map is for assessment use only and does NOT represent a survey. No Thisliability map is isfor assumed assessment for the useaccuracy only and of does thenot datarepresent deliniateda herein. survey. Information on roads and other non-assessed parcels may be obtained from No liability the Road is assumed Document for the Listing accuracy in theof Assessor's the data deliniated Office. herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office. This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the This map is compiled from official records, including surveys and deeds, recorded but only contains documents the information for more detailed required legal for assessment. information. See the recorded USEdocuments THIS SCALE(FEET) for more WHEN detailed MAP REDUCED legal information. FROM X7 ORIGINAL BOBBYE AVE 0 00USE THIS200 SCALE(FEET) WHEN MAP0 REDUCED FROM X7 600 ORIGINAL PM 6-8 M R= SSELL COMMERCIAL SUBDIVISION R=54 MOUNTAIN VISTA ST 0 MOUNTAIN VISTA ST 20 > R =5 5 R = PM PM RAWHIDE FLOOD CHANNEL RAWHIDE FLOOD CHANNEL MAP LEGEND MAP LEGEND PARCEL BOUNDARY ROAD PARCEL NUMBER Michele W. Shafe CONDOMINIUM - Assessor UNIT SUB BOUNDARY 5 5 AIR SPACE PCL 00 PARCEL NUMER PARCEL PM/LD BOUNDARY BOUNDARY CONDOMINIUM UNIT ROAD PARCEL NUMBER.00 ACREAGE RIGHT OF WAY PCL SUB BOUNDARY ROAD EASEMENT AIR SPACE PCL 00 PARCEL NUMER PM/LD BOUNDARY MATCH / LEADER LINE SUB-SURFACE PCL 202 PARCEL SUB/SEQ NUMBER RIGHT OF WAY PCL.00 ACREAGE ROAD EASEMENT 7 HISTORIC LOT LINE PB PLAT RECORDING NUMBER MATCH / LEADER LINE SUB-SURFACE PCL 202 PARCEL SUB/SEQ NUMBER HISTORIC SUB BOUNDARY BLOCK NUMBER HISTORIC LOT LINE PB PLAT RECORDING NUMBER 8 4 HISTORIC PM/LD BOUNDARY HISTORIC SUB BOUNDARY 5 LOT NUMBER SECTION LINE BLOCK NUMBER Scale: 88 8 " = 200 ' 02/09/ HISTORIC PM/LD BOUNDARY GL5 GOV. 2 LOT NUMBER Rev: 22 5 LOT NUMBER SECTION LINE 2 4Scale: " = 200 ' 02/09/20 5 GL5 GOV. LOT NUMBER Rev: DUCK CREEK CHANNEL A PB PB -84 DUCK CREEK CHANNEL PB 2-26 ASSESSOR'S PARCELS - CLARK CO., NV. ASSESSOR'S Michele PARCELS W. Shafe - CLARK - Assessor CO., NV PRIVATE HOBBLE CREEK DR 0 80 HOBBLE CREEK DR DR DUCK CREEK CHANNEL PB PRIVATE ROADRUNNER DR ROADRUNNER PRIVATE PRIVATE L= PRIVATE WHEATFIELD DR 42.5 PRIVATE WHEATFIELD DR L= ORINDA AVE ORINDA AVE RUSSELL RD RUSSELL RD R= BOOK 48 T2S R62E 29 S 2 SE T2S R62E 29 S 2 SE R= BOOK " L= " L=59.92 ELAINA AVE L= L= SEC SEC MAP MAP U S 95 FWY U S 95 FWY R= NELLIS BLVD R= NELLIS BLVD TAX DIST 470 TAX DIST PT

12 Area Demographics ( Mile Radius) KEY FACTS INCOME 4, Population $45,029 $45,029 $2,204 $2,926 Average Household Size Median Household Income Median Household Income Per Capita Income Median Net Worth KEY FACTS ,424 5,48 Households 4.6 Median Age $8,628 Median Disposable Income EDUCATION % No High School Diploma % High School Graduate % Some College 22% Bachelor's/Grad/Prof Degree HOUSEHOLD INCOME,200 2

13 Area Demographics ( Mile Radius) KEY FACTS INCOME 58, Population $47,476 $47,476 $24,76 $44,648 Average Household Size Median Household Income Median Household Income Per Capita Income Median Net Worth KEY FACTS ,58 60,89 Households 8.6 Median Age $,467 Median Disposable Income EDUCATION % No High School Diploma % High School Graduate 4% Some College 22% Bachelor's/Grad/Prof Degree ,000 8,000 HOUSEHOLD INCOME 2,000

14 Area Demographics (5 Mile Radius) KEY FACTS INCOME, Population $46,76 $46,76 $24,4 $9,706 Average Household Size Median Household Income Median Household Income Per Capita Income Median Net Worth KEY FACTS ,776 52,92 Households 7.7 Median Age $9,642 Median Disposable Income EDUCATION % No High School Diploma % High School Graduate % Some College 22% Bachelor's/Grad/Prof Degree ,000 20,000 HOUSEHOLD INCOME,000 4

15 Exclusively listed by: Sun Commercial Real Estate, Inc. Michael T. Brazill Senior Associate Jessica Cegavske Vice President Jennifer Lehr Senior Associate Roy Fritz Senior Vice President Cathy Jones, CPA, SIOR, CCIM CEO The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice. 6 Brent Thurman Way, Suite, Las Vegas, Nevada Ph Fax