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950 Grier Dr 26,862 SF Office Building Las Vegas, NV 89119 $8,058,600 ($300/SF)
INVESTMENT HIGHLIGHTS
- PRIME LOCATION: Subject Property is located adjacent to Harry Reid Intl Airport with easy access to I-15, I-215, and the Airport Connector.
- OPPORTUNITY ZONE: 950 Grier is located within an Opportunity Zone, offering several monetary benefits due to tax incentives.
- CAPEX INVESTMENT: $100,000+ has been invested in landscaping renovations & an additional $25,000 has been invested in repainting the building exterior
- FULL BUILDING OR CONDO OPTIONS: Property is currently being utilized by a single tenant, but can be easily converted into two condo units.
- INCOME TAX FREE STATE: Nevada has no state income tax.
EXECUTIVE SUMMARY
LINK TO OM: https://logiccre.com/1031_properties/%c2%b1-26960-sf-single-story-office-industrial-flex-building-owner-user-investment-opportunity/
950 Grier is a single story office/industrial flex building, totaling approximately ±26,862 SF on ±1.34 acres. The building was constructed in 1989 and is located within the Hughes Airport Center master-planned business park adjacent to Harry Reid International Airport. Additionally, the Property has excellent access to Interstate 15, Interstate 215, and the Las Vegas Strip, providing an easy commute to the greater Las Vegas metropolitan area. This building is leased through August 31, 2026 to Cirque Du Soleil (S&P: B+) with possible early occupancy for an owner-user. This Property can also be subdivided into two condos for multiple owner-user opportunities.
LINK TO OM: https://logiccre.com/1031_properties/%c2%b1-26960-sf-single-story-office-industrial-flex-building-owner-user-investment-opportunity/
950 Grier is a single story office/industrial flex building, totaling approximately ±26,862 SF on ±1.34 acres. The building was constructed in 1989 and is located within the Hughes Airport Center master-planned business park adjacent to Harry Reid International Airport. Additionally, the Property has excellent access to Interstate 15, Interstate 215, and the Las Vegas Strip, providing an easy commute to the greater Las Vegas metropolitan area. This building is leased through August 31, 2026 to Cirque Du Soleil (S&P: B+) with possible early occupancy for an owner-user. This Property can also be subdivided into two condos for multiple owner-user opportunities.
LINK TO OM: https://logiccre.com/1031_properties/%c2%b1-26960-sf-single-story-office-industrial-flex-building-owner-user-investment-opportunity/
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
26,862 SF
Building Class
B
Year Built/Renovated
1988/1991
Price
$8,058,600
Price Per SF
$300
Tenancy
Single
Building Height
1 Story
Typical Floor Size
26,862 SF
Building FAR
0.46
Lot Size
1.34 AC
Opportunity Zone
Yes
Zoning
IL, Clark County - "IL" Industrial Light, designed for low & moderate-intensity industrial & manufacturing, & indoor/outdoor storage uses with supporting office spaces.
Parking
100 Spaces (3.72 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Courtyard
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PROPERTY TAXES
| Parcel Number | 177-03-510-005 | Improvements Assessment | $693,166 |
| Land Assessment | $321,765 | Total Assessment | $1,014,931 |
PROPERTY TAXES
Parcel Number
177-03-510-005
Land Assessment
$321,765
Improvements Assessment
$693,166
Total Assessment
$1,014,931
CONTACTS
-
Cathy Jones -
Paul Miachika -
Allyson Weber -
Blaze Katz -
Logic Commercial Real Estate
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950 Grier Dr
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