OFFERING MEMORANDUM 8681 W. SAHARA AVE.
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• 8681 w. sahara ave. • office
OFFERING MEMORANDUM
8681 W. SAHARA AVE.
table of contents
EXECUTIVE SUMMARY
Financials
tenant profile
location overview
photos
DEMOGRAPHICS
JAMES S. HAN, CCIM DEREK BELANUS Las Vegas Market
VP of Commercial Sales & Leasing VP of Commercial Sales & Leasing
702.825.2125 702.286.2355
jamesh@northcap.com derek@northcap.com
License: NV BS.0144720.LLC License: NV BS.0143114.PC
• 8681
8681 w.
w. sahara
sahara ave.
ave. •• office
office
01 EXECUTIVE SUMMARY PROPERTY OVERVIEW
pROPERTY DETAILS
THE OPPORTUNITY • 8681 w. sahara ave. • office
EXECUTIVE SUMMARY 8681 W. SAHARA AVE.
Las Vegas, NV 89117
PRICE
PROPERTY OVERVIEW
$3,050,000 Northcap Commercial Is Pleased To Offer A Prime Investment Opportunity. This Leased Investment
Is Located Within The Lake Sahara Plaza. This 100% Leased Professional Office Is Situated In A
Professional Office Complex And Is Conveniently Placed In The Busy Sahara Corridor Near Durango
G R O S S R E N TA B L E A R E A Drive. The Immediate Area Offers Financial and Medical Ser vices, Retail and Restaurants.
12,320 SF Disclaimer: Our information is deemed reliable but not guaranteed. Buyer to verify all information.
PROPERTY DETAILS
NOI
$196,244 Sale Type Leased Investment Price/SF $247.56
Sale Condition Cash Tenancy 3 Tenants
CAP RATE Property Type Office Building Height 2 Stories
6.4% Leased 100%
Typical
Floor Size
6,160 SF
Building Size 12,320 SF Parcel # 163 - 05 - 510 - 024
Y E A R B U I LT Sahara - 35,000 CPD
Building Class B Traffic Count
Durango - 26,000 CPD
1999 Zoning C - 1 Land Acres 0.68 AC
*Starting Sept, 2021
INVESTMENT OPPORTUNITY • • 4
financials • 8681 w. sahara ave. • office
financials • rent roll
UNIT TENANT SIZE PERCENTAGE % MONTHLY RENT ANNUAL RENT LEASE TERM OPTION RENEWAL DATE
Patriot Growth
100 6,160 RSF 50% $10,000.00 $120,000.00 5 Years 1 - 3 years 8/31/25
Insurance Services
Fixed rent for 5 years with 5% increase at renewal.
$7,314.00
200, 250, 280 Kinetic 4,840 RSF 39% $87,768.00 3 Years 08/31/2024
Until 8/2021
$7,600.00
$91,200.00 3 Years
Starting 9/2021
220 Tucker & Associates 1,320 RSF 11% $1,980.00 $23,760.00 5 Years 1 - 5 years 12/31/25
Local Accounting Firm with plans to stay for 10 years. Has annual increases built in after year Yr 2
INVESTMENT OPPORTUNITY • • 5
tenant profiles • 8681 w. sahara ave. • office
tenant profiles
KINETIC
SUITE 100 SUITE 280 SUITE 220
Suite Square Footage: 6,160 RSF Suite Square Footage: 4,840 RSF Suite Square Footage: 1,320 RSF
Lease Expiration Date: 8/31/2025 Lease Expiration Date: 8/1/2024 Initial Occupancy: 1/01/2021
Lease Expiration Date: 12/31/2025
Patriot Growth Insurance Services
Private Equity backed Insurance broker with Kinetic
a national footprint. 53rd largest broker Kinetic is in the solar space. Rapid growing Tucker and Associates
in the country. Growing rapidly. Revenues company. Local Tax accountants.
north of $70M. Locations across the country.
INVESTMENT OPPORTUNITY • • 6
LOCATION OVERVIEW • 8681 w. sahara ave. • office
DOWNTOWn SUMMERLIN
QUEENSRIDGE
CHARLE
S T ON BL
V D.
SAH
ARA
AV E CANYON GATE
NUE
D
COUNTRY CLUB
OA
OR
NG
RA
DU
THE LAKES
SUBJECT
LOCATION OVERVIEW
Northcap Commercial Is Pleased To Offer A Prime Investment Opportunity. This
Leased Investment Is Located Within The Lake Sahara Plaza. This 100% Leased
Professional Office Is Situated Adjacent to The Lakes, Canyon Gate Country
Club and is in close proximity to Peccole Ranch and Summerlin.
INVESTMENT OPPORTUNITY • • 7
• 8681 w. sahara ave. • office
02
PROPERTY PICTURES EXTERIORS
INTERIORS
AERIALS
EXTERIOR PICTURES • 8681 w. sahara ave. • office
EXTERIOR PICTURES
INVESTMENT OPPORTUNITY • • 9
EXTERIOR PICTURES • 8681 w. sahara ave. • office INVESTMENT OPPORTUNITY • • 10
INTERIOR PICTURES • 8681 w. sahara ave. • office
INTERIOR PICTURES
INVESTMENT OPPORTUNITY • • 11INTERIOR PICTURES • 8681 w. sahara ave. • office INVESTMENT OPPORTUNITY • • 12
AERIAL PICTURES • 8681 w. sahara ave. • office
AERIAL PICTURES
INVESTMENT OPPORTUNITY • • 13• 8681
8681 w.
w. sahara
sahara ave.
ave. •• office
office
03 DEMOGRAPHICS & las vegas marketDemographic and Income Comparison Profile
8681 W Sahara Ave, Las Vegas, Nevada, 89117 Prepared by Esri
Rings: 1, 3, 5 mile radii Latitude: 36.14238 DEMOGRAPHICS • 8681 w. sahara ave. • office
Longitude: -115.28167
1 mile 3 miles 5 miles
Census 2010 Summary
demographic report
Population 17,470 157,597 414,148
Households 7,540 63,617 162,899
Families 4,432 39,448 101,427
Average Household Size 2.32 2.47 2.53
Owner Occupied Housing Units 4,070 35,013 87,923
Renter Occupied Housing Units 3,470 28,604 74,976
Median Age 40.6 39.6 38.0
2020 SUMMARY 1 MILE 3 MILES 5 MILES
2020 Summary
Population 18,529 171,445 468,632
Households 7,965 69,174 182,445
Families 4,603 42,230 112,113
Average Household Size 2.33 2.47 2.56
Owner Occupied Housing Units 4,088 35,824 93,974
Renter Occupied Housing Units
Median Age
Demographic and Income3,876
Comparison Profile
42.8
33,350
41.7
88,471
39.7
Median Household Income 8681 W Sahara Ave, Las Vegas, Nevada, $60,500
89117 $60,065 $57,061
Prepared by Esri
Demographic and Income Comparison Profile
Average Household Income Rings: 1, 3, 5 mile radii $92,201
$88,109 Latitude:$85,458
36.14238
Longitude: -115.28167
2025HOUSEHOLDS
2020 Summary 8681 W Sahara Ave, Las Vegas, Nevada, 89117
BY INCOME Prepared by Esri
1 mile 3 miles 5 miles
Population Rings: 1, 3, 5 mile radii 19,556 183,068 Latitude:500,826
36.14238
2020 Households by Income Number Percent Number Percent Number Percent
Households 8,390 73,764 Longitude: -115.28167
194,461LAS VEGAS MARKET
DEVELOPMENT PROJECTS • 8681 w. sahara ave. • office
VIRGIN HOTEL
Excerpt from rgj.com
By Ed Komenda | February 2021
”Virgin Hotels Las Vegas has a new opening date.
The resort on the former site of the Hard Rock will open on March 25.
“Today we are not only celebrating the fact that we finally get to welcome back guests to the most exciting resort to open in Las Vegas in
years, but we also get to bring our team members back to work,” said Richard Bosworth, CEO of JC Hospitality – owner of Virgin Hotels
Las Vegas – in a statement Thursday.
The new opening date comes exactly one month after the company announced the debut would be delayed due to COVID-19.
The Hard Rock Hotel and Casino closed after the Super Bowl in February 2020 for remodeling and rebranded as a Virgin Hotel after it
was purchased
Billionaire investor and Virgin Group founder Richard Branson purchased the property with a group of partners, including Los Angeles-
based investment firm Juniper Capital Partners. The terms of the purchase from Brookfield Asset Management were not disclosed.
Branson, who has previously rappelled down a casino-hotel and got on a jet ski in the fountains outside the Bellagio casino-resort to
promote his businesses, promised an “equally fun” event for the hotel’s official launch...”
LAS VEGAS MUNICIPAL COURTHOUSE
Excerpt from molaskyco.com
February 2020
”The Molasky Group of Companies and the City of Las Vegas entered into a public private partnership to develop the Las Vegas Municipal
Courthouse in the civic corridor of downtown Las Vegas.
The four-story, 139,431 sq. ft. development will be located on approximately one acre at the SW corner of Clark Avenue and 1st Street. Sited
to the southeast of the Las Vegas City Hall, the Municipal Courthouse is designed to complement City Hall while starting to create a complex of
City facilities. The site is located near the City parking garage, the Detention Center, and the Regional Justice Center. The Courthouse is designed
to meet LEED Silver level requirements and will be built for approximately $56.3M.
Joining The Molasky Group on the development team are: Martin Harris Construction as general contractor, PGAL as lead architect, X-9 Design
Group as design architects, Walter P. Moore as structural engineer, MS Engineering for MEP and ITS, and GCW Engineering as civil engineers.
The four-story facility will house the City’s Municipal Court functions including Traffic Court, six additional Courtrooms, City Attorney’s office,
customer service, court administration, classrooms and public space. Included in a sub-basement level will be secure parking and a sally port for
prisoner transportation. Construction is scheduled to commence around August 2019 and will bring more than 150 construction jobs to downtown
Las Vegas. The project will be complete by January 2021...”
INVESTMENT OPPORTUNITY • • 17DEVELOPMENT PROJECTS
UNCOMMONS
Excerpt from ktnv.com
October 2020
”UnCommons, a first-of-its-kind development coming to Durango Drive and the 215 Beltway in late 2021, has unveiled plans for Platform One,
Las Vegas’ first neighborhood food hall.
Concepted by Batch Hospitality (Batch), Platform One will call on some of the city’s best culinary talent to contribute their individuality to a
harmonious space of shared passion for unsurpassed gastronomy.
The announcement comes on the heels of Batch’s participation in “UnCommons Heroes,” the delivery of nearly 4,000 upscale meals to healthcare
professionals at hospitals throughout the Las Vegas Valley with Matter Real Estate Group (Matter), the developer behind UnCommons. Evan
Glusman, a partner in Batch along with Wayne F. Jefferies and Chef Chris Conlon, provided more than 1,000 dinners from his family restaurant,
Piero’s Italian Cuisine.
A $400 million project, UnCommons will also offer more than 830 apartment units and over 500,000 square feet of office space ranging
from small creative spaces to full floor opportunities for corporate tenants with integrated amenities to promote collaboration, flexibility, wellness,
quality work and social interaction for today’s employees who prioritize community, inspiration and lifestyle
Partners within the Matter team, whose goal is to elevate the everyday human experience and enable people, businesses and communities to
thrive, have led the development for other Las Vegas projects including Town Square, an open-air gathering place with shopping, dining and
entertainment located south of the Las Vegas Strip; and Centra Point, one of the largest master-planned business parks in Southern Nevada
boasting 30 acres and 10 buildings with more than 450,000 square feet of office and retail space...”
VIRGIN HIGH SPEED TRAINS
Excerpt from www.reviewjournal.com
November 2020
”The company planning a high-speed rail line between Las Vegas and Southern California is in early talks to extend the line to
Rancho Cucamonga, where a Metrolink station could connect passengers directly to Los Angeles.
Virgin Trains USA and the San Bernardino County Transportation Authority entered into a memorandum of understanding Wednesday
to allow for a study about extending the 170-mile rail line mainly down Interstate 15, through the Cajon Pass, into Rancho
Cucamonga. Rancho Cucamonga lies about 35 miles southwest from Victor ville, the current planned terminus of the rail line in the
Golden State, and 40 miles east of downtown Los Angeles.
“We appreciate San Bernardino County’s support for our high-speed rail project and this unique opportunity to explore added
connectivity within the I-15 corridor,” said Ben Porritt, Virgin Trains spokesman. “A future extension to Los Angeles through Palmdale
and Rancho Cucamonga will provide Southern California residents full access to our high-speed rail ser vice to Las Vegas. Greater
connectivity and mobility brings with it economic opportunities, jobs and positive environmental benefits.”
The possible extension would occur in Phase Two of the $4.8 billion project and would provide another option for those traveling
into and out of the L.A. area to get to Las Vegas via the train....”
INVESTMENT OPPORTUNITY • • 18DEVELOPMENT PROJECTS DEVELOPMENT PROJECTS
RESORTS WORLD
Excerpt from tophotel.news
By Sorcha O’Higgins | July 2020
”Hilton Worldwide has partnered with Resorts World Las Vegas on the US$4.3 billion integrated resort, which is currently being developed by
Genting Berhad ahead of its scheduled opening in the summer of 2021. The landmark project will feature no fewer than three of the hospitality
company’s premium brands, Hilton Hotels & Resorts, LXR and Conrad, bringing a combined total of 3,500 rooms to America’s playground.
Ian Carter, president of global development, architecture, design and construction at Hilton, said: “Our strategic partnership with Resorts World
Las Vegas underscores Hilton’s commitment to expanding our footprint and portfolio of exceptional properties. This will mark our largest multi-
brand deal in company history, and we are excited to work with our new partners to create a distinct hotel experience in an unbeatable location
for our future guests and Hilton Honors members
Scott Sibella, president of Resorts World Las Vegas, said: “With our commitment to redefining the luxury hotel standard in Las Vegas, it was only
natural for us to partner with Hilton, a leader in the global hospitality industry. Hilton embodies the values and top-level hospitality that align
with Resorts World’s priority of bringing an unmatched guest experience to the Las Vegas market.”
This unmatched guest experience will doubtless be helped by the symbolic return of Las Vegas Hilton, once the world’s largest hotel. And the
new Las Vegas Hilton at Resorts World will sit alongside high-end properties operating under the LXR and Conrad brands.
Guests will be able to experience world-class performances at a 5,000-capacity theatre and 220,000 sq ft pool complex, while business
travellers will find all of their needs catered for across 350,000 sq ft of meeting and convention space...”
HOWARD HUGHES SUMMERLIN
Excerpt from reviewjournal.com
January 2021
”The Howard Hughes Corporation®, developer of the Summerlin® master-planned community (MPC) and its 400-acre Downtown
Summerlin®, today announced a comprehensive vision for the area’s walkable urban center that includes a new Class-A office
building, 1700 Pavilion, along with a second phase of the Tanager luxury apartment complex, Tanager Echo.
The revitalized master plan is the result of an extensive exploration of new ways to integrate innovative design, architecture, and state-
of-the-art amenities into Summerlin’s downtown urban core, while enhancing Downtown Summerlin’s connectivity — between its retail
area and entertainment offerings, and with the natural setting that defines the award-winning community.
Through a series of strategic, market-driven development phases, Downtown Summerlin will continue to expand as a vibrant, mixed-use
community. With a growing population of Class-A office tenants, full-time residents, hotel guests and sports fans, Downtown Summerlin
will further establish itself as a sought-after urban destination, embodying Summerlin’s hallmark healthy, active, outdoor lifestyle.
The new ten-story office building,1700 Pavilion, spans 267,413 square feet and is situated on just under three acres directly south of
the Las Vegas Ballpark®, featuring vantage points with one-of-a-kind views of the entire valley, from The Strip to Red Rock Canyon...”
INVESTMENT OPPORTUNITY • • 19DEVELOPMENT PROJECTS
AXIOM CORPORATE CENTER
Excerpt from news3lv.com
February 2020
”The southwest valley saw another real estate development begin taking shape on Friday, Feb. 8, as an all-glass corporate center broke ground
near I-215 and Rainbow Boulevard.
Sansone Companies, the same group that revitalized the Boulevard Mall in the east valley, was joined by Clark County Commission Michael
Naft at the official groundbreaking ceremony.
The new corporate center, which spans 160,000 square feet and features a striking modern design, is called AXIOM and is one of the first
corporate offices in the corridor.
“AXIOM’s groundbreaking will be a catalyst and cornerstone to our prospering business economy,” Commissioner Naft said, “I am honored to
be a part of this moment and look forward to the future that AXIOM has in store and thank Sansone Companies for their vision and commitment
to quality of excellence in our development community.”
The location is placed between Summerlin and the Green Valley area in Henderson, putting it at the center of southwest Las Vegas.
The property will consist of two 80,000-square-foot four-story twin buildings conjoined by a four-level parking garage.
The area around AXIOM contains all sorts of restaurants and shopping with The Arroyo Market Square as well as a number of other commercial
centers nearby...”
LAS VEGAS CONVENTION CENTER
Excerpt from reviewjournal.com
January 2021
”The West Hall expansion will cost the Las Vegas Convention and Visitors Authority a little more than board members originally
expected.
The LVCVA board of directors on Tuesday amended its contract and approved a payment of $6.75 million to the Turner Martin-Harris
Joint Venture for the cost overrun.
LVCVA President and CEO Steve Hill said an additional payment would likely be made in the months ahead as the contractor and
Miller Project Management, the LVCVA’s hired owner representative, reconcile additional charges resulting from social distancing
requirements in the construction process from the COVID-19 pandemic.
The 2 percent additional cost of the latest change orders is within the contracted overrun expectation for a project of that scale and
the building’s total cost increased to $987.1 million. The overrun is being paid out of a budgeted contingency fund.
The LVCVA took possession of the building with a temporary certificate of occupancy on Dec. 21 and considers the project 99 percent
completed. leading to Stations 1 and 3 of the facility’s people-mover developed by Elon Musk’s Boring Co.; and bollards protecting
station entrances...”james s. han, ccim derek belanus VP of Commercial Sales & Leasing VP of Commercial Sales & Leasing 702 825 2125 702 286 2355 jamesh@northcap.com derek@northcap.com License: NV BS.0144720 License: NV BS.0143114.PC
DISCLAIMER
CONDITIONS CONCERNING REVIEW OF THIS OFFERING
This Offering Memorandum is provided to you by Northcap Commercial and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the
property described in the attached documentation (the “Property”). The providing of this package to you and your use thereof is conditioned upon your agreement to the terms set forth below.
This package contains selected information pertaining to the Property which was provided by the owner to broker. It does not purport to be a representation of the state of affairs of the current owner, tenant(s),
nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided
are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and Northcap
Commercial. All projections, assumptions and other information provided are made herein are subject to material variation. The projections are based on assumptions relating to the general economy and local
competition, among other factors. Accordingly, actual results may vary materially from such projections.
Northcap Commercial has not independently investigated the accuracy of the information within the package, as such information was obtained by the owner and/or public records. Additional information and
an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.
Neither the owner, Northcap Commercial, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or
completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason
of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, which disclaimer is incorporated herein by reference.
You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to
terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party
reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered
and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.
By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this brochure or any
of its contents to any other entity without the prior written authorization of owner or Northcap Commercial. You also agree that you will not use this brochure or any of its contents in any manner detrimental to
the interest of the owner or Northcap Commercial.
This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate
descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other
professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on this Memorandum as part of your investigations on this
Property. If you have no interest in further pursuing this Property, please return this package to Northcap Commercial.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT LISTING AGENTS FOR MORE DETAILS.
Tivoli Village | 400 S Rampart Blvd. Ste 220 | Las Vegas, NV 89145 | www.northcapcommercial.comYou can also read
