1401 Hillshire Dr | Las Vegas, NV 89134 - Tina D. Taylor LIC#S.0053184.PC - ARTI Transact
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45949
1401 Hillshire Dr | Las Vegas, NV 89134
Tina D. Taylor
6064 South Durango Drive, LIC#S.0053184.PC
Las Vegas, NV 89113 702.274.1184
702.383.3383 | naivegas.com ttaylor@naivegas.com
Offering Memorandum
Terms and Conditions Non-Warranty
This offering, including any related digital marketing, contains selected information Neither the seller or NAI Vegas, nor any of their respective directors, officers, Affiliates
pertaining to the Property and does not purport to be a representation of the state or representatives make any representation or warranty, expressed or implied, as to the
of the Property, to be all-inclusive, or to contain all or part of the information which accuracy or completeness of this Offering Memorandum or any of its contents, as to the
interested parties may require to evaluate a purchase or lease of real property. financial performance of the property, or as to the condition of the Property, malfunctions
or mechanical defects on the Property or to any improvements thereon, including but
Financial Information not limited to the material, workmanship or mechanical components of the structures,
foundations, roof, heating, plumbing, electrical or sewage system, drainage or moisture
Any and all financial projections and information are provided for general reference
conditions, air conditioning, or damage by the presence of pests, mold or other organisms,
purposes only and have been gathered from sources deemed reliable. Certain
environmental condition, soils conditions, the zoning of the Property, the suitability of the
assumptions have been made relating to the general economy, market conditions,
Property for Interested parties intended use or purpose, or for any other use or purpose.
competition and other factors beyond the control of seller and NAI Vegas. Therefore, all
projections, assumptions and other information provided and made herein are subject No Obligation
to material variation.
No legal commitment or obligation shall arise by reason of your receipt of this Memorandum
Summary Documents or use of its contents; Interested Parties are to rely solely on its investigations and
inspections of the Property in evaluating a possible purchase or lease of the real property.
Additionally, all references to acreage, square feet, and other measurements are
The seller expressly reserves the right, at its sole discretion, to reject any or all offers to
approximations. Any demographics, geographic information systems(GIS), maps,
purchase or lease the Property, and/or to terminate discussions with any entity at any
photography, zoning, site plan, survey, engineering, architectural drawings, and
time, with or without notice, which may arise as a result of review of this Memorandum.
any other information are without assurance of their accuracy, time sensitivity,
completeness, or status of approval. Documents presented may be preliminary, have Confidentiality
no assurance of being “as built”, and may not reflect actual property boundaries or
improvements. Additional information and an opportunity to inspect the Property can By receipt of this Memorandum, you agree that this Memorandum and its contents are
be made available to qualified parties. In this Memorandum, certain documents are confidential in nature, that you will hold and treat such in the strictest confidence and
described in summary form. These summaries do not purport to be complete nor that you will not disclose this Memorandum, or any of its contents, to any other entity
necessarily accurate descriptions of the full documents referenced herein. Interested without the prior written authorization of the seller or NAI Vegas. If after reviewing this
parties are expected to review and confirm all such summaries and other documents Memorandum, you have no further interest in purchasing or leasing the Property, please
of whatever nature independently and not rely on the contents of this Memorandum in delete or return this Memorandum to NAI Vegas.
any manner.
Offered By: Tina
Tina D.
D. Taylor
Taylor NAI Vegas | naivegas.com 2
Content
04 Property Summary / Photos
06 Financial Analysis
09 Maps/Area Highlights
13 Demographics
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 3
Property Summary
1401 Hillshire Dr
ADDRESS Las Vegas, NV 89134
BUILDING SQFT ±36,941
LOT SIZE | ACRES ±2.85
APN 138-30-510-013
YEAR BUILT 2004
STORIES 2
ZONING P-C (Planned Community District)
TYPE Class A Professional Office Building
CONSTRUCTION Wood/Steel Frame/Block
FOUNDATION Concrete Slab
ROOF Built Up/Standing Seam/Flat Tar
154 (inclusive of 44 covered
PARKING and 6 Handicapped) Asphalt
recently paved and striped
PARKING RATIO 4.5 : 1,000
OWNERSHIP Fee
RESTROOMS Common On Each Floor
ELEVATOR One (1) Thyssen Krupp 3,500lb Capacity
SPRINKLERED Yes
EXTERIOR Stucco, Stone
To Site (3 Water heaters - 2
UTILITIES electric and 1 gas in bistro)
HVAC 23 Roof Mounted HVAC Units
Large Conference Room (Capacity of appx 800)
MISC Bistro Kitchen | Break Rooms | Balconies
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 4
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 5
Financial Summary
ANNUALIZED OPERATING DATA
Summary Current Rents
Price $7,900,000
Down Payment $3,160,000
Current Cap 8.50%
Approximate Gross Square Feet 36,941
Cost per Gross Square Foot $213.85
Approximate Net Rentable Square Feet 35,190
Price per Net Rentable Square Foot $224.50
Approximate Lot Size (Acres) 2.85
Approximate Age 2003
Assessor's Parcel Number 138-30-510-013
Annualized Operating Data Current Owner
Scheduled Gross Income $844,191
Cam & Parking $59,257
Total Scheduled Income $903,448
Vacancy/Collection Loss $45,172 5.00%
Effective Gross Income $858,276
Expenses $190,730
Net Operating Income (NOI) $667,546
Loan Payments/Debt Covered Ratio (DCR) $316,158 2.11
Pre-Tax Cash Flow (Cash on Cash) $351,389 11.12%*
Principal Reduction $105,006
Total Return Before Taxes $456,394 14.44%*
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 6
Financial Overview
ANNUALIZED EXPENSES
Current Owner
Property taxes $48,990
Insurance $5,304
Management Fee $24,000
Utilities $28,237
Repairs & Maintenance $5,290
Elevator $5,409
Fire/Insp/Alarm $7,173
HVAC Budget/contract $10,000
Janitorial $4,800
Lighting $2,782
Landscaping Maint. $20,596
Window Washing $1,360
Pest Control $800
Sewer $9,466
Security $1,140
Misc $2,500
Association dues $8,700
Total $190,730
FOR MORE INFORMATION
CLICK HERE
OR TEXT 20826 TO 39200
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 7
Rent Roll
LEASE LEASE
TENANT UNIT DEPOSIT RENT RENT/SF CAM CAOE/SF PARKING TOTAL RENT TOTAL SF
START EXP
Micro Dental 110 1/1/2013 12/31/2022 $6,778.00 $2.00 $459.73 $0.14 $105.00 $7,342.73 3,389
Laboratories
Aurum Nevada, LLP 120 1/1/2013 12/31/2022 $6,026.00 $2.00 $408.73 $0.14 $135.00 $6,749.73 3,013
Hearing Association 130 $2,960.00 9/1/2015 8/31/2022 $3,140.26 $1.96 $141.50 $0.09 $3,281.66 1,600
of Las Vegas
Stateline Funding, Inc 150 1/1/2013 12/31/2022 $1,479.00 $2.04 $98.35 $0.14 $1,577.35 725
LVI Global 200 4/1/2013 3/31/2023 $52,926.00 $2.00 $3,589.81 $0.14 $56,515.81 26,463
TOTAL $2,960.00 $70,349.26 $2.00 $4,698.12 $240.00 $75,287.38 35,190
TOTAL SF OCCUPIED 100%
TOTAL SF VACANT 0.00%
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 8
Area Map
THE
HILLS PARK
TRAILS
COMMUNITY
CENTER THE MEADOWS
SUM
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MER SCHOOL
LWI
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OO
PKW
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SUMMERLIN
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N
LSL
W
N RAMPART BLVD
TO
HI
RE
N
DR
KELLOGG ZAHER
SPORTS COMPLEX
SUMMERLIN PKWY
ANGEL PARK
TPC GOLF CLUB
SUMMERLIN
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 9
Area Map
HILLW
OOD
DR
SITE
HILLSHIR
E DR
W
SU
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PK
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Offered By: Tina D. Taylor NAI Vegas | naivegas.com 10Area Highlights AMENITIES
Cheyenne Ave.
1
Dese
rt H
o .
e Dr
p
• 9501 Hillwood Drive is a two-story, professional office building
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w
Pk
e
nc
re
in Las Vegas, Nevada. It is located in award winning master
ve
Re
Lake Mead Blvd
215
planned community of Summerlin, just off Summerlin Pkwy P
3 2
(with over 30,000 cars per day), and Town Center, a major P
P
4
North/South Arterial. SUMM
ERLIN PARK
WA
Y SUMMERLIN
5
6 LIBRARY
zi
P
Anasa
7 8
• Summerlin is the No. 1 ranking Master Planned community FUTURE
Rampart Blvd.
DEVELOPMENT Far H
ills
SUMMERLIN
year after year. In addition, it has ranked within the top 10 of
HOSPITAL
10
9
11 er
12 n
Canyon Ru
best Master Planned Communities worldwide since 1995. No
nt
Ce
ta
Sky Vis
wn
13
To
Alt
community has possibly won more awards and recognitions
a
14
Fox Hill
ills
for the standard of “excellence” in every single thing it has to
oth
Alta
Fo
LF
D
215
ALL
LL
UN
LL
16
LL /
GO
D
SH AL
Desert
BA
LL
FT ALL
PA
BA
RO
YB
ES
offer. (www.summerlin.com)
BA
AT D
SP ASON
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BA
IS
KLE
SE ADE
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18
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17
LIN
OL
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LA
PLA
SUMMERLIN PARK FEATURES
PIC
ZIP
VO
PO
BA
BA
SO
FO
SH
TE
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FR
15 1 REVERENCE PARK
Charleston 2 THE HILLS PARK
3 THE TRAILS PASEO PARK
20 19
• The bordering communities and submarket boast the
4 THE TRAILS PARK + POOL
DOWNTOWN
SUMMERLIN ® 5 THE PUEBLO PARK
6 TREE TOP PARK
P
strongest demographics in all of Nevada, such as Tournament 21 7 THE ARBORS PASEO PARK
OL
THE CROSSING PARK
PO
8
Players Club and Eagle Hills, 2 affluent neighborhoods and
9 OXFORD PARK
Sahara 10 THE ARBORS TENNIS AND PLAY PARK
11 FOX HILL PARK
R ock Ranch
P
exclusive, nationally recognized golf course. Within a half mile, 12 NORTH TOWER PARK
Hualapai
13 THE ARBORS SPORTS PARK
24 22
is the notable retirement community of Sun City Summerlin. 23 14 THE VISTAS PARK + POOL
15 STONEBRIDGE PARK—COMING SOON
Red
P THE PASEOS PARK
16
17 SOUTH TOWER PARK
Desert Inn 18 COTTONWOOD CANYON PARK
P
19 VILLAGE GREEN PARK
25 20 SAGEMONT PARK
215
21 SUMMERLIN CENTRE COMMUNITY PARK
26 22 THE WILLOWS PARK + POOL
23 SPOTTED LEAF PARK
24 THE WILLOWS PASEO PARK
®
25 THE GARDENS PARK
Flamingo 26 RIDGEBROOK PARK
27 THE MESA PARK
28 OAK LEAF PARK
29 FAISS PARK + INDOOR AQUATIC CENTER
Hualapai
FUTURE Tropicana
DEVELOPMENT
Arts Resort/Hotel Tournament
Players Club
Shopping/Dining Education
Street-Side Trails
27 Fire Station Public
Worship
Golf Course Private
Russell
P Attractions
P Community Higher
Center Education
Hualapai
Post Office Police Station
28
Sunset
Grand Canyon
Fort Apache
Maule
29
This map is the property of The Howard Hughes Corporation or its subsidiary and may not be modified. This map may be reproduced by
real estate agents for relevant informational purposes only and does not indicate or imply affiliation or endorsement by the SUMMERLIN®️
development or The Howard Hughes Company, LLC. This map is provided “as is” and without warranty of any kind. SUMMERLIN and the Mountain
Design are registered trademarks of The Howard Hughes Company, LLC. updated 04/2020
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 11Area Highlights CHEYENNE
RAMPART
Desert Shores
LAKE MEAD
LA K E MEAD
• Additional location aspects are-- the accessibility to
HILLS CENTER
interstates, retailers, fitness centers, just North of Summerlin L A K E MEAD
Hospital Medical Center (member of the Valley Health system,
215 BELTWAY
Summerlin West SUMMERLIN PARK
BUFFALO
CENTER
WA
Future Villages Y
a 485 bed comprehensive healthcare facility and campus), a REDPOINT
SQUARE VEGAS
E
V IL L A G
I
SAZ
SU
short drive to the Las Vegas “Strip”, McCarran International M
DURANGO
ANA
REDPOINT M
ER
RAMPART
FAR HILLS
BUFFALO
LI
ER N
Airport, high ranked K-12 schools, a plethora of walking trails, NT PA
CE RK
N
SKY VISTA
W W Kellogg Zaher Park
TO AY
bike trails, community centers and worship centers. ALTA
C ANYON RUN
Angel Park
SUMMERLIN PARKWAY
Golf Course
S
ILL
TIVOLLI
Suncoast Casino VILLAGE ALTA
• The subject property is close proximity to the 400-Acre
OTH
A LTA
TER
T FO
TOWN CEN
Downtown Summerlin urban development. Downtown
D ESER
Queensridge Boca Park
CHARLESTON
Summerlin popular outdoor mall is situated along I-215
CHARLESTON
beltway, featuring vibrant city blocks of fashion, dining,
Whole Foods
FORTAPACHE
DURANGO
BUFFALO
Peccole Ranch
PAVILION RD.
entertainment, Red Rock Casino, Resort & Spa, The Golden ON
ST
Knights NHL practice facility and the Las Vegas 51’s brand
LE
AR Village Square
CH SAHARA SAHARA
RED ROCK Desert Sportsman
new baseball stadium.
VISITOR CENTER The Lakes
Rifle Club
RED ROCK RANCH
HUALAPAI
AY
BELTW
• This is a unique and rare opportunity for a business owner RED ROCK CANYON
NATIONAL CONSERVATION AREA DESERT INN
215
DESERT INN
to acquire a well-established, well maintained, irreplaceable SPRING MOUNTAIN RANGE
+
asset in a high-demand sub-market with limited inventory.
FLAMINGO
FLAMINGO
CENTER
N
TO W
BLM LAND
TROPICANA
T R O PICANA
FORT APACHE
GRAND CANYON
HUALAPAI
M
DURANGO
BUFFALO
ES
AP
ARK
BORDER MAP Future Village
215
RUSSELL
PATRICK
Villages Currently Selling The Gramercy
215 BELTWAY
Villages Sold Out
SUNSET SUNSET
GRAND CANYON
Future Villages
Residential Leasing
MAULE
FORT APACHE
Custom Homesites WET
’N’
WILD
This map is the property of The Howard Hughes Corporation or its subsidiary and may not be modified. This map may be ARBY
reproduced by real estate agents for relevant informational purposes only and does not indicate or imply affiliation or
endorsement by the SUMMERLIN® development or The Howard Hughes Company, LLC. This map is provided “as is” and
without warranty of any kind. SUMMERLIN and the Mountain Design are registered trademarks of The Howard Hughes
Company, LLC. Updated 08.19
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 12Demographics
POPULATION 1-mile 3-mile 5-mile
2019 Population 10,191 132,795 330,270
HOUSEHOLDS 1-mile 3-mile 5-mile
2019 Households 4,265 55,646 128,783
INCOME 1-mile 3-mile 5-mile
2019 Average HH Income $134,896 $97,712 $91,446
Traffic Counts
STREET CPD
Village Center Cir / Library Hill 9,855
N Town Center Dr / W Spring Gate Ln 21,261
Village Center Cir / Hillshire Dr 9,855
Offered By: Tina D. Taylor NAI Vegas | naivegas.com 13Distance to Major Cities Market Research
Salt Lake City, Utah 420 miles Our offices publish commercial and residential market research across Utah CLICK HERE
and Nevada. NAI Excel and NAI Vegas are known for their deep and rich data.
Reno, Nevada 438 miles VIEW MARKET STATISTICS
Lending institutions, appraisers, and business consultants look to our market
FOR OFFICE, RETAIL,
reports as the authority on commercial real estate market trends. We have built INDUSTRIAL & MULTIFAMILY
Los Angeles, California 270 miles
and maintained a comprehensive database comprised of data collected from
San Diego, California 332 miles some of the largest appraisal firms in the region, NAI transaction, and other data. https://excelcres.com/market-research
NAI publishes statistics for the office, retail, industrial, and multifamily markets.
Denver, Colorado 748 miles Additionally, single family housing reports are published for every major market
from Las Vegas to Salt Lake City, through our affiliate.
Phoenix, Arizona 305 miles
Tina D. Taylor
6064 South Durango Drive, LIC#S.0053184.PC
Las Vegas, NV 89113 702.274.1184
702.383.3383 | naivegas.com ttaylor@naivegas.comYou can also read
