CHARLESTON HALL - Mountain West Commercial Real Estate
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CHARLESTON
HALL JEFFREY MITCHELL
jmitchell@mtnwest.com
STEVE MARDIROSSIAN
stevem@mtnwest.com
JOSEPH ANDERSON
janderson@mtnwest.com
direct 702.374.0211 direct 702.374.0214 direct 702.374.0212
110 EAST CHARLESTON BOULEVARD B.00077448.LLC S.0183397 S.00786640
LAS VEGAS, NEVADA 89104 View Profile View Profile View Profile
TABLE OF CONTENTS
3 CONFIDENTIALITY &
DISCLOSURE
4 EXECUTIVE
SUMMARY
5 PROPERTY
OVERVIEW &
6 TRADE
AREA
7 DEMOGRAPHICS
8-9 PROJECTS FUELING
LAS VEGAS GROWTH
REDEVELOPMENT MAP
OPPORTUNITY
CHARLESTON HALL
2 241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com
CHARLESTON HALL
CHARLESTON CONFIDENTIALITY
HALL AND DISCLOSURE
110 EAST CHARLESTON BOULEVARD Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property
LAS VEGAS, NEVADA 89104 described as 110 East Charleston Boulevard, Las Vegas, Nevada. Broker has been authorized by seller of the
property to prepare and distribute the enclosed information 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
PREPARED BY and the 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
JEFFREY MITCHELL be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment
jmitchell@mtnwest.com of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.
direct 702.374.0211
B.00077448.LLC The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors
View Profile 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
STEVE MARDIROSSIAN
does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require.
stevem@mtnwest.com
direct 702.374.0214 The information contained in the material has been obtained from the Seller and other sources and has
S.0183397 not been verified by the Seller or its affiliates, agents, representatives, employees, parents, subsidiaries,
View Profile 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
JOSEPH ANDERSON
available financing, and must independently confirm the accuracy of the projections contained in the pro
janderson@mtnwest.com
direct 702.374.0212 forma.
S.00786640
View Profile 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.
241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com 3
EXECUTIVE SUMMARY
110 E Charleston is a unique property located in the heart of the Las Vegas
Arts District - www.18b.org
The property has storied history and was last occupied by a screen printing
company. Next door is the highly successful Cornish Pasty Restaurant & Bar
www.cornishpastyco.com. Around the corner Vesta Coffee Roasters has their
roastery www.vestacoffee.com, notable chef and restaurateur James Trees
operates Esther’s Kitchen - www.estherslv.com. Overall the area is consistently
adding compelling food, bar, and artistic offerings - truly the epicenter for
creativity in Nevada.
The property is located in Designated Opportunity Zone - The Opportunity
Zones incentive is a new community investment tool established by Congress
in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in
low-income urban and rural communities nationwide.
The seller of the property has full redevelopment plans for the property and is
interested in selling a JV or other forms of partnerships.
VIEW DRONE FOOTAGE HERE
CHARLESTON HALL
4 241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com
CHARLESTON HALL
PROPERTY OVERVIEW &
REDEVELOPMENT OPPORTUNITY
CO
OL
ID G
EA
PROPERTY OVERVIEW
VE
T
AD
T
ES
000
T
AD
RC
14,
ME
00
Address Building Size
OM
4, 7
ST
SC
ST
110 East Charleston Blvd 7,566 SF
S1
Las Vegas, NV 89104 Parking
APN 4 Spaces / 1.23 Ratio
S CA
S I NO
162-03-110-073 Frontage & Access
CEN
Location Charleston Blvd - 76FT
AY
BO
T
ST
ER
UL
W
DE
Arts District Downtown RA
T
IN
BLV
AR
Traffic Counts: VE
MA
D
S
Site Charleston Blvd - 36,000 Cars Per Day
Located on the SWC corner of E.
Charleston Blvd. / Art Way Year Built:
Land Area 1959 49,000 ADT
W CHARLESTON BLVD E CHARLESTON BLVD 33,000 ADT
0.27 Acres (11,767 SF) Zoning:
S MAI N S T
C-2 16203110073
0.27 Acres
S CASINO CENTER BLVD
PRICE - $1,750,000
S 3RD ST
1,200 ADT
15,200 ADT
REDEVELOPMENT OPPORTUNITY
W CALIFORNIA ST
Owner has designed and engineered a comprehensive redevelopment of the E CALIFORNIA ST
property that includes designs for a ground floor Art Gallery & Event Space,
Restaurant, Bar or Food Hall Use and Second/Third floor Live/Work Lofts.
Owner can provide plans, details and intellectual property for this opportunity
and is willing to sell or JV the full project to/with interested parties.
Copyright nearmap 2015
TITLE
AGENT NAME
SUBTITLE F:\PROJECTS\LV\MITCHELL\CHARLESTONHALL\PARCELMAP.MXD - 6/17/2019 LPLANT
241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com 5
13,900 ADT
TRADE AREA MAP W BONANZA RD 12,500 ADT 13,9
DT
10,900 ADT 00
T
AD
AD
T
0A
&
'
%
15
48
000
,0
0
00
1,0
42A
4,200 AD T
13,
247,000 ADT
A
14,100 ADT
DT
6, 350 ADT 0 ADT 1
173,00
(
DT T 15,5
7,100 A
(
T
4,400
AD
46,000 ADT 00 A
,
+ 95
AD
25, 0 AD D T
00
T 00 A &
'
%
11 T
4,5
6, 80 13,800 AD 9 00 AD
0
6,6
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77
DT
00
76B
0A T ,500 ADT
5,800
1 4,0
1,
DT 1,500 AD 1 6, 20
75B
172
19
0 ADT 00 A DT
,00
T 7 6,700 MOLASKY
0 AD 12,200
T ADT
ADT
T
AD
90 CORPORATE CENTER
,0
6,
(
ST 9,000 A
14,300
76A
0 ADT
(
T
00
285,179 SF EW DT
100
AD
6,5
ADT
RANCHO
5 AR
AD
0A
46,
ST
VERDE APARTMENTS
13,
TA
0
T
264 UNITS DT
00
VE
000
T
AI N
AD
3,
SIEGEL SUITES AT MLK 10,0
17, 1 00
27
INTERNATIONAL TRADE 00
ADT
368 UNITS A
NM
DT
CLARK & BUSINESS CENTER 295,753 SF
34,50
( (
COUNTY FAMILY SERVICES T 500,000 SF 8,1
AD
(
63,365 SF T 9,3 0 0A
AD
(
0 0A
0 ADT
DT
00
3,600 0 DT
10
,7
AD 6, FR
25
T E MO
T
AD
42B AURIC SYMPHONY PARK NT
324 UNITS
000
ST
10,
TOWN VILLAS
S RANCHO DR
DT
92 UNITS
A
Symphony Park
000
30,
5,7
0 0A
BLDG C
DT 160,692 SF(
9,1
10,0
00
A
14,200 ADT
DT
00
AD 148,934 SF (
114,442 SF
(
T
HELIX
316 UNITS (
5,9
00 201 PLAZA
AD 2
(
T
25,665 SF ,250 A
(
LOU RUVO BRAIN INSTITUTE LAS VEGAS 27,000 SF
(
DT
BLDG A 67,000 SF
(
CITY HALL
( LEWIS STREET (
144,443 SF PROFESSIONAL CENTER PARK AVENUE
(
352,273 SF
(
A DT DRUG ENFORCEMENT APARTMENTS
10,100
67,273 SF 155 UNITS
SHADOW PROFESSIONAL 21,745 SF ADMIN
AV E
(
3,7
(
CENTER V ILL E 34,645 SF 00
W B ONNE AD
(
Centennial
ALTA DR 41,849 SF 12,800 ADT
(
T
(
7,700 ADT 413,976 SF Plaza
MULTI-FAMILY 68,806 SF
(
48 UNITS
(
DESERT LAS VEGAS
D
(
23,896 32,634 SF MANOR
&
'
%
LV
15 ACADEMY HS/1,
(
71,296 SF 191 UNITS
SF 8,9
( (
T
(
722 STUDENTS
(
27,579 SF
SB
0
AD
0A 32,176
( (
DT SF
(
GA
14,000
(
REVIVE MEDICAL (
QUAIL ORTHOPEDIC DISTRICT 136,434 SF
VE
JUHL
(
CENTER ( 46 UNITS 293 UNITS
26,390 SF
AS
S MARTIN L KING BLV
44,447
T
(
CRAIG P KENNY
AD
VALLEY HOSPITAL
SL
SF
(
29,306 & ASSOCIATES (
MEDICAL
ST
3,1
DT
51,152 SF
0
SF
(
8,000 ADT
34,860 SF
DT
CENTER/409 BEDS
30,000 ADT
0
99
0A
(
40,488 0A
A
AI N
DEANER LAW BUILDING
0 00
DT
0
GOLDRING
4,7
SF
(
26,190 SF
(
22,
MEDICAL PLAZA
SM
BLDG E
(
(
74,774 SF 41,040 SF
475 PEPPERTREE
(
22,755 SF
( (
UNITS APARTMENTS (
48 UNITS
(
6, 1
THE FOYALE AT L'OCTAINE URBAN
APARTMENTS 28,366 SF
(
0 CASINO CENTER
(
0
DELTA POINT 51 UNITS
ADT 281 UNITS
DT
UNIVERSITY
78,945 SF
( (
0A
MEDICAL AVANTE LOFTS
T 260 UNITS
D
0
CENTER/454 BEDS
5,8
6,700 AD
C3 LOFTS
(
48 UNITS 22,444 SF
SIERRA I & II
(
21,575 SF
34,000 ADT
Site E CHARLESTON BLVD
(
53,445 SF
(
(
49,000 ADT
(
33,000 ADT
37,000 ADT W CHARLESTON BLVD 41
AQUARIUS Mary Dutton
7,000 ADT
34,400 ADT
HOLSUM LOFTS
(
RESIDENCES Park
(
21,209 SF CHARLESTON 1,100 UNITS
46,000 SF
(
278 , 000 ADT
TOWER
(
(
(
15,200 ADT
88,726 SF
1,200 ADT
T
24,100 ADT
AD
20,487
00
SF
(
,0
24
THUNDERBIRD
LOFTS
370 UNITS
CHARLESTON & I-15 TRADE AREA
LAS VEGAS, NEVADA F:\PROJECTS\LV\MITCHELL\CHARLESTONHALL\TT_MAP.MXD - 7/1/2019 MLIAPIS
CHARLESTON HALL
DEMOGRAPHICS
POPULATION BUFFERS - 1, 3, 5 MILES
E CRAIG RD
W CRAIG RD
1 MILE 3 MILES 5 MILES W ALEXANDER RD
E ALEX ANDE R RD Nellis
N 5TH ST
12,821 174,299 537,050 AFB
2018 EST. 2018 EST. 2018 EST. Lone Mountain
DR
RD
SIM MONS ST
North Las VD
CIVIC CENTER
BL E CHEYENNE AV E
EE
N MARTIN L KI NG BLVD
POPULATION POPULATION POPULATION W CH EYENNE AVE Vegas S
N RAINBOW BLVD
S
A
EG
LO
N
LA
S
V
5 Miles
Sunrise Manor
N NELLIS BLVD
N LAMB BLVD
N PECOS RD
N WALNUT RD
E CAREY AVE
SMOKE RANCH RD W CAREY AVE
&
'
%
15
N
N DECATUR BLVD
RA
E LAKE MEAD BL VD
NC
W LAKE MEAD BLVD
3 Miles
HO
N JONES BLVD
DR
AVERAGE HOUSEHOLDS & INCOME VEGAS DR W OWENS AVE E OWENS AVE
N EASTERN AVE
ST
,
+
95 E WASHINGTON AVE
AIN
W W ASHI NGTON AVE
NM
W BONANZA RD
E BONANZA RD
1 MILE 3 MILES 5 MILES 1 Mile
G BLVD
4,250 59,632 182,170 FR
E STEWART AVE
^
MO
NT
R TIN L KI N
Las Vegas
^
ST
2018 EST. 2018 EST. 2018 EST. ST
S MAI N
E CHARLEST ON BLVD
HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS W CHARLESTON BLVD
S RANCHO DR
MA
S VALLE Y VIEW BLVD
S LAMB BLVD
S
S JONE S BLVD
RD
&
'
%
11
D
E SAHARA AVE
IAL
LV
W S AHARA AVE
MCLEOD DR
SB
TR
1 MILE 3 MILES 5 MILES KAREN AVE
N ORAIL
US
VEGAS VALLEY DR
Winchester
GA
&
'
%
IN D
$45,342 $47,629 $50,475 15
VE
S EASTERN AVE
LAS VEGAS MO
AS
2018 EST. 2018 EST. 2018 EST. W DES ERT INN
RD E DESERT INN RD
CABANA DR
SL
S SANDHILL RD
P EC O
B
O
INCOME INCOME INCOME
S DECATUR BLVD
SPRING MO UNTAIN RD S M
U
S
S NELLIS BLV D
CL
LD
N DS AV
A
AVE EO
E E TW AIN
ER
DI
H
W
NT
S RAINBOW BLVD
Spring Valley E FL AMINGO RD
Y
W FLAMI NGO R D
MOUNTAI N VISTA ST
E HARMON AVE
Paradise
S PECOS RD
NA AVE E TROPICANA AVE Whitney
W TR OP ICA
PAR
DEA N M R TIN DR
ADIS
T3 EXIT
E RD
E RUSS ELL RD
A
W RUS SELL RD
Henderson
F:\Projects\LV\Mitchell\CharlestonHall\Buffers.mxd - 6/6/2019 mliapis
241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com 7
PROJECTS FUELING LAS VEGAS GROWTH
MSG SPHERE
Construction on the venue began in September 2018 and will be complete by 2021. The venue is being built
in partnership between The Madison Square Garden Company and Las Vegas Sands Corporation.[3] The MSG
Sphere will be located adjacent to The Venetian Las Vegas and just off the Las Vegas Strip. Once complete, the
sphere-shaped venue will have a capacity of 18,000 and will feature LED screens inside and outside of the venue.
An identical MSG Sphere will be built in London and will open sometime after the MSG Sphere in Las Vegas.
In November 2018, it was reported that the MSG Sphere would be built along with new bars, private suites, a
museum and retail space.
Photo source: reviewjournal.com
PROJECT NEON
Nearly two decades in the making, Project
Neon is the largest public works project
in Nevada history. Project NEON will
widen 3.7 miles of Interstate 15 between
Sahara Avenue and the “Spaghetti Bowl”
interchange in downtown Las Vegas. It’s
currently the busiest stretch of highway in
Nevada with 300,000 vehicles daily, or one-
tenth of the state population, seeing 25,000
lane changes an hour. Traffic through the
corridor is expected to double by 2035.
LAS VEGAS STADIUM
Las Vegas Stadium is the working name for a domed stadium under construction in Paradise, Nevada for the
Las Vegas Raiders of the National Football League (NFL) and the UNLV Rebels football team of the University of
Nevada, Las Vegas (UNLV). It is located on about 62 acres west of Mandalay Bay at Russell Road and Hacienda UNLV SCHOOL OF MEDICINE
Avenue and between Polaris Avenue and Dean Martin Drive, just west of Interstate 15. Construction of the $1.8 University of Nevada, Las Vegas (UNLV)
billion stadium began in September 2017 and is expected to be completed in time for the 2020 NFL season. School of Medicine, is an academic division
of the University of Nevada, Las Vegas
(UNLV) with 60 students matriculated on July
17, 2017. The
students began their education with a 6
week EMT course. The school is the first to
grant the Doctor of Medicine (MD) degree in
Southern Nevada. The school uses facilities
in the University Medical Center of Southern
Nevada (UMCSN) clinical building at the Las
CHARLESTON HALL
8 241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com
Vegas Medical District.
PROJECTS FUELING CHARLESTON HALL
LAS VEGAS GROWTH
CONVENTION CENTER RESORT WORLD LAS VEGAS
The $1.4 billion Las Vegas Convention Center expansion and improvement Resorts World Las Vegas is a casino and resort currently under construction
project authorized in a special session of the Nevada Legislature in October on the Las Vegas Strip in Clark County Nevada, planned to open in 2020.
took a big step forward Tuesday. The Las Vegas Convention and Visitors It is owned and operated by GentingGroup. The estimated cost is about
Authority board of directors approved the second phase of the project by US$ 7.2 billion.
unanimously authorizing an eight-month $1.28 million contract extension with
its builder representative, Cordell Corp., to begin the process of designing a The $7.2 billion project will include:
600,000-square-foot exhibit hall. • 4 hotel towers with a total of • Aquarium
Photo source: www.enr.com 6,583 • Movie theater
• hotel rooms[11] • Ice skating rink
• 175,000-square-foot (16,300 m2) • Bowling alley
INTERSTATE 11 casino • Indoor water park
Construction of the first 15 miles of Interstate 11, which will link Las Vegas to • 4,000-seat theater • Panda exhibit
Phoenix and could eventually stretch from Mexico to Canada, is making progress. • Retail, dining and convention • 21,847,314-square-foot
The Nevada Department of Transportation is in charge of the 2.5-mile phase one, space (2,029,681.9 m2
while the Regional Transportation Commission is heading the 12.5-mile phase • Rooftop sky park and • total area at completion
two. Both phases have been under construction since 2015 and are expected observation deck
to be completed by 2018. The first phase of the $318 million Interstate 11
project is about 60 percent complete, according to the Nevada Department of Photo source: http://www.reliablesecurity.com
Transportation.
241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com 9
PREPARED BY JEFFREY MITCHELL jmitchell@mtnwest.com direct 702.374.0211 B.00077448.LLC View Profile STEVE MARDIROSSIAN stevem@mtnwest.com direct 702.374.0214 S.0183397 View Profile JOSEPH ANDERSON janderson@mtnwest.com direct 702.374.0212 S.00786640 View Profile 241 W. Charleston Blvd, Suite 103 l Las Vegas, NV 89102 l Office 702.374.0220 l www.mtnwest.com
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