710 S Main St - Downtown Investment or Owner-User Opportunity - 710 S Main St, Las Vegas, NV 89101

This property is located near the Las Vegas Premium Outlets and The Arts District and is close to Fremont St. This area has strong connectivity to both vehicle and public transportation and is well-situated for high interaction. This area has been experiencing substantial redevelopment and improvement from both property owners and the City of Las Vegas and it's street improvement programs. This property is located within the Civic & Business District near the Las Vegas Premium Outlets, The Arts District and The Resort & Casino District. It is in close proximity to the I-15. The Downtown area is one of the more flexible districts for imagining potential uses and falls within the City of Las Vegas' Form-Based Code adopted to implement the Vision 2045 Downtown Las Vegas Master Plan. The property currently has two tenants which are month-to-month. Rents are far below market. We have observed NNN leases in the area from $1.25 to $2.50 (renovated properties). Our pro forma cap rate estimates range from 7.8% to 9.4%.