FR SAE 955 GRIER DRIVE - Utah, Nevada, Washington · 955 grier drive las vegas, nv 89119 ... r a d...
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Geoffrey P. West +1 702 688 6936 [email protected] 6725 Via Austi Pkwy., Suite 275 Las Vegas, NV 89119 Main +1 702 796 7900 Fax +1 702 796 7920 comre.com 955 GRIER DRIVE LAS VEGAS, NV 89119 AIRPORT SUBMARKET OWNER/USER BLDG WITH INCOME FOR SALE Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. OFFERING SUMMARY Cushman & Wakefield, as exclusive listing broker, is pleased to offer for sale 955 Grier Drive, a high-image office/warehouse building, located within the Hughes Airport Center in Las Vegas, NV. The convenient location in the Airport Submarket immediately adjacent to McCarran International Airport provides excellent access to the airport, the I-15 and I-215 freeways, the Las Vegas “Strip” and all convention facilities. The property consists of 4 units, two of which are leased generating $19,169/month in tenant income that includes NNN reimbursements for buyer. The other units would be great for either an owner/user or a tenant seeking to lease the spaces. • 5 (Five) Grade Doors • 1 (One) Inside Dock Well (filled) • 45% Occupied • Owner/User - Investment Property • $19,169/month in tenant income that includes NNN reimbursements • Approximately 1 1/2 years avg remaining lease terms plus options • Owner/user can occupy more than 51% as required for SBA financing (see attached) • Ability to reduce occupancy cost by almost 50% over leased space PROPERTY SUMMARY REDUCED ASKING PRICE: $6,485,000 Property Size: ±46,498 SF ($139/SF) Vacant Space: ±25,308 SF Site Size: ±3.42 acres Parking: 2.12/1,000 (±105 spaces) Zoning: Light Manufacturing (M-1) Year Built: 1986 Parcel Number: 177-03-510-010
Transcript of FR SAE 955 GRIER DRIVE - Utah, Nevada, Washington · 955 grier drive las vegas, nv 89119 ... r a d...
Geoffrey P. West+1 702 688 [email protected]
6725 Via Austi Pkwy.,Suite 275 Las Vegas, NV 89119 Main +1 702 796 7900 Fax +1 702 796 7920comre.com
955 GRIER DRIVELAS VEGAS, NV 89119
AIRPORT SUBMARKET OWNER/USER BLDG WITH INCOME
FOR SALE
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
OFFERING SUMMARYCushman & Wakefield, as exclusive listing broker, is pleased to offer for sale 955 Grier Drive, a high-image office/warehouse building, located within the Hughes Airport Center in Las Vegas, NV.
The convenient location in the Airport Submarket immediately adjacent to McCarran International Airport provides excellent access to the airport, the I-15 and I-215 freeways, the Las Vegas “Strip” and all convention facilities.
The property consists of 4 units, two of which are leased generating $19,169/month in tenant income that includes NNN reimbursements for buyer. The other units would be great for either an owner/user or a tenant seeking to lease the spaces.
• 5 (Five) Grade Doors• 1 (One) Inside Dock Well (filled)• 45% Occupied• Owner/User - Investment Property• $19,169/month in tenant income that includes NNN reimbursements• Approximately 1 1/2 years avg remaining lease terms plus options• Owner/user can occupy more than 51% as required for SBA financing
(see attached)• Ability to reduce occupancy cost by almost 50% over leased space
PROPERTY SUMMARY
REDUCED
ASKING PRICE:$6,485,000
Property Size: ±46,498 SF ($139/SF)
Vacant Space: ±25,308 SF
Site Size: ±3.42 acres
Parking: 2.12/1,000 (±105 spaces)
Zoning: Light Manufacturing (M-1)
Year Built: 1986
Parcel Number: 177-03-510-010
Geoffrey P. West+1 702 688 [email protected]
6725 Via Austi Pkwy.,Suite 275 Las Vegas, NV 89119 Main +1 702 796 7900 Fax +1 702 796 7920comre.com
955 GRIER DRIVELAS VEGAS, NV 89119
AIRPORT SUBMARKET OWNER/USER BLDG WITH INCOME
FOR SALE
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
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Geoffrey P. West+1 702 688 [email protected]
6725 Via Austi Pkwy.,Suite 275 Las Vegas, NV 89119 Main +1 702 796 7900 Fax +1 702 796 7920comre.com
955 GRIER DRIVELAS VEGAS, NV 89119
AIRPORT SUBMARKET OWNER/USER BLDG WITH INCOME
FOR SALE
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Fenced Area
Parts Cage
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Tel.Serv. Stor.
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Warehouse
Warehouse
Open Bullpen
Area
Reception
Break Room
Elec.Room
Power Distribution Room
955 GRIER DR.±25,308 SF
9,474 SF OFF15,834 SF WH
Suite B
8,488 SF warehouse
Suite C
7,346 SF warehouse
Suite D(Bar & Grill)
Suite A
VACANT
VACANT
Leased - Aruze Gaming
Leased - Paradise Poker Club
Wells Fargo Bank, N.A.
Small Business Administration Lending
Prepared For: Proposed BuildingProperty Address: 955 Grier
Las Vegas, Nevada 89119
As of Date:
Business Development Officer: Guy GuginoOffice Phone: (702) 247-5358Cell Phone: (702) 498-9642Fax Number: (866) 469-5926Email Address: [email protected] Address: 6325 S Rainbow Blvd., Suite 230
Las Vegas, Nevada 89118
© 2016 Wells Fargo Bank, N.A. All rights reserved.
Commercial Real EstateComparison Pricing Summary
August 4, 2017
This is not an offer or commitment to lend and is intended for discussion purposes only. All financing is
subject to credit approval and determination of SBA eligibility by the Wells Fargo SBA Lending group
and additional collateral may be required. The amounts provided are estimations and the actual fees,
costs and monthly payment will vary depending on your specific loan transaction. The interest rate is
dependent on the Wall Street Journal Prime and is subject to change.
Wells Fargo Bank, N.A. -- SBA Lending
Guy GuginoPhone Number: (702) 247-5358Cell Number: (702) 498-9642Email Address: [email protected]
Loan Type: SBA 504
Owner Occupied Commercial Real Estate Financing
Date: 08/04/17Property Description: 46,498 Square Foot Commercial Building
Project Cost (estimates) Total
Project Cost $145 per sq ft 6,750,000 675,000
Debenture Loan Fee 71,640 0Debenture Closing Fee 2,500 2,500Bank Loan Fee 16,896 16,896
3rd Party Costs: appraisal, environmental, title, etc 11,000 3,350Total Project Cost $6,852,036 $697,746
Out of Pocket Cost as % of Total Project: 10.2%
WFSBA SBA 504 CombinedLoan Details 1st DOT 2nd DOT Loans
Loan Amount $3,379,250 $2,775,040 $6,154,290Loan Rate (WF fixed rate for 25 years) 6.10% 4.76% 5.50%Loan Term (in years) 25 20Amortization Term (in years) 25 20
Monthly Payment $21,980 $17,948 $39,928
Monthly Occupancy Cost (P+I) $0.86 per sq ftAnnual Occupancy Cost (P+I) $10.30 per sq ft
Prepared for: Proposed Building
© 2016 Wells Fargo Bank, N.A. All rights reserved.
Out of Pocket
8/4/2017
This is not an offer or commitment to lend and is intended for discussion purposes only. All financing is subject to credit approval and determination of SBA eligibility by the Wells Fargo SBA Lending group and additional collateral may be required. The amounts provided are estimations and the actual fees, costs and monthly payment will vary depending on your specific loan transaction. The interest rate is dependent on the Wall Street Journal Prime and is subject to change.
Wells Fargo Bank, N.A. -- SBA Lending
Guy Gugino
Phone Number: (702) 247-5358
Cell Number: (702) 498-9642
Email Address: [email protected]
Date: 8/04/17Property Description: 46,498 Sq Ft Commercial Building
SBA Loan CombinedLoan Amount: $2,775,040 $6,154,290Interest Rate: 4.76% 5.50%Amortization in Years: 20Term in Years: 20Monthly Payment: $17,948 $39,928
Purchase Assumptions: Lease Assumptions:Monthly Rent per Square Foot $0.75
Total Project Cost $6,852,036 Monthly Rent (approx 23,700 sq ft) $17,785
Start-up costs Start-up costsCash Down Payment: 10.2% of Total Project $697,746 Prepaid Rent and Security Deposit $35,571
(Equals 2 Months Rent)
Monthly Cost Estimate Per Sq. Ft. Amount Monthly Cost Estimate Per Sq. Ft. AmountMortgage Payment $0.86 $39,928 Rent Payment $0.75 $17,785Operating Costs (includes CAM) $0.17 $7,905 Operating Costs (includes CAM) 0.17 $4,031Association Dues $0.00 $0 Association Dues 0.00 $0Total Monthly Costs $1.03 $47,832 Total Monthly Costs $0.92 $21,817
Monthly Ownership Benefits Monthly Ownership BenefitsDepreciation Estimate (1) $4,038 Depreciation Estimate N/ATenant Income (if applicable) $19,139 Tenant Income N/AAppreciation Estimate (2.00% annualized) $11,250 Appreciation Estimate N/ATotal Ownership Benefits $34,427 Total Ownership Benefits N/A
Total Effective Monthly Cost $13,405 Total Effective Monthly Cost $ 21,817
Time Period Property Value Loan Balance EquityYear 5 $7,452,545 $5,349,296 $2,103,250Year 10 $8,228,212 $4,208,813 $4,019,400Year 15 $9,084,611 $2,805,114 $6,279,497Year 20 $10,030,145 $1,134,177 $8,895,968
(1) Depreciation Assumptions: Depreciable building cost is 80% of $6,750,000 property value; Depreciated over 39 years; Borrower tax rate is 35%
(2) Owner's equity calculation assumes 2.00% annual appreciation rate and constant interest rate noted above. Rate may be subject to change.
Prepared for: Proposed Building
© 2016 Wells Fargo Bank, N.A. All rights reserved.
Own vs. Lease Comparison With SBA 504 Loan
Wells Fargo Loan$3,379,250
6.10%25
• Loan Information •
25$21,980
• Property Value and Owner's Equity (2) •
• Own • • Lease •
This is not an offer or commitment to lend and is intended for discussion purposes only. All financing is subject to credit approval and determination of SBA eligibility by the Wells Fargo SBA Lending group and additional collateral may be required. The amounts provided are estimations and the actual fees, costs and monthly payment will vary depending on your specific loan transaction. The interest rate is dependent on the Wall Street Journal Prime and is subject to change.
