325 s. 3rd street, las vegas, nv - loopnet...• 325 s. 3rd street mark j. musser is a director of...

325 s. 3rd street, LAS VEGAS, NVDOWNTOWN RETAIL / OFFICE BUILDING OPPORTUNITY FOR SALE

MARK J. MUSSERDirector - Investment Sales

702 232 3490 [email protected] #: NV BS.0143995.PC

PHILLIP KEUCHSenior Investment Advisor

703 881 2089 [email protected] #: NV S.0179758

The Property

AREA OVERVIEW

Pictures

DEMOGRAPHICS

Recent Sales

LAS VEGAS MARKET

325 S. 3RD STREETLAS VEGAS, NV 89101

• 325 S . 3 RD STREET

THE PROPERTY 325 S. 3RD STREETLas Vegas, NV 89101

PROPERTY OVERVIEW

The property stands out as one of the best locations in Downtown Las Vegas submarket, strategically located next to the Regional

Justice Center, Las Vegas Justice Court and United States Courthouse. The property can be accessed via I-15 and Highway 95 via

multiple exits. The building was constructed in 1960, consisting of two stories with high visibility fronting 3rd Street. The property

has multiple potential uses for retail and office tenants. Currently the property has been partially renovated ready for a new owner

to put the finishing touches on this “Ground Zero” one of a kind real estate.

The downtown submarket has been going through huge transition with the addition of the Circa Hotel and Casino scheduled to

open in 2021. The World Market Center convention center addition and multiple planned multi-family projects.

Proposed Tenant Mix: The building will be highly desirable to attorney users, retail users, in addition to general office users.

PROPERTY FEATURES

• Located in the heart of Downtown

• (Ground zero) Courthouse location

• Upside owner user

• Convenient access to US 95 Freeway

• Single-tenant or multi-tenant opportunity

• High-Traffic location

• Strong demographics and area growth

THE OPPORTUNITY

Asking Price $2,900,000

Price PSF $386.66

Building Type Re ta i l/Of f ice Bu i ld ing

Year Built 1960

Gross Buiding Size ± 7,500

Lot Size 0.16 Acres

Parking on S i te

No. Stories 2

Zoning C - 2

APN 139 - 34 - 210 - 073


las vegas blvd.

las vegas blvd.

NN

InternationalMarket expo

fremont street experience

premiumoutlets south

smith center

L AS VEGAS STRIP

MCCARRAN AIRPORT

UNLV

95

15

future smith centermixed-use development

under constructionCIRCA HOTLE & CASINO

CIT Y COUNT YCOURT HOUSE

area overview

DOWNTOWNLAS VEGAS

l AS VEGAS ARTS DISTRICT

las vegas blvd.

las vegas blvd.

mai

n st

.m

ain

st.

charleston blvd.charleston blvd.

AREA OVERVIEW

• 325 S . 3 RD STREETAREA OVERVIEW

main st.main st.

casino center blvd.casino center blvd.

CLARK COUNT YGOVERNMENT CENTER

FUTURE CIT Y PARK

FUTURE COURTHOUSE

LAS VEGAS CIT Y HALL

FEDERAL JUSTICE TOWER

JUHL CONDOS

newport loft CONDOS

SOHO loft CONDOS

• 325 S . 3 RD STREETAREA OVERVIEW

325 S. 3RD ST.

LAS VEGAS JUSTICE COURT

S. 3

RD S

T.

S. 3

RD S

T.

S. 4

TH S

T.

S. 4

TH S

T.

E. BRIDGER AVE.

E. BRIDGER AVE.

LEWIS AVE.

LEWIS AVE.

BANK OF AMERICA FINANCIAL CENTER

• 325 S . 3 RD STREETEXTERIOR PICTURES

• 325 S . 3 RD STREETPrepared by Esri

Latitude: 36.16690Longitude: -115.14470

325 S 3rd St, Las Vegas, Nevada, 89101 (1, 3, 5 miles)325 S 3rd St, Las Vegas, Nevada, 89101Rings: 1, 3, 5 mile radii

Key Facts 325 3rd St

KEY FACTS

17,872Population

43.7

Median Age

1.9

Average Household Size

$22,505Median Household

Income

EDUCATION

22%

No High School

Diploma 34%High School

Graduate

29%Some College 15%

Bachelor's/Grad/Prof Degree

BUSINESS

2,325Total Businesses

38,569Total Employees

EMPLOYMENT

46%White Collar

18%Blue Collar

35%Services

9.1%

Unemployment Rate

INCOME

$22,505Median Household Income

$17,627Per Capita Income

$11,117Median Net Worth

KEY FACTS

190,807 172,935

Population34.9 8.8

Median Age

2.8 1.0


$33,835 $11,330

Median Household Income

EDUCATION

29% 7%

No High School

Diploma 34% 0%

High School Graduate

24% 5%

Some College13% 2%


BUSINESS

9,412 7,087

Total Businesses

160,075 121,506

Total Employees

EMPLOYMENT

39% 7%

White Collar

25% 7%

Blue Collar

36% 1%

Services

6.9% 2.2%

Unemployment Rate

INCOME

$33,835 $11,330


$17,873 $246

Per Capita Income

$14,341 $3,224

Median Net Worth

KEY FACTS

545,290 527,418

Population33.9 9.8

Median Age

2.9 1.0


$37,998 $15,493


EDUCATION

27% 5%

No High School

Diploma 34% 0%


25% 4%

Some College13% 2%


BUSINESS

24,341 22,016

Total Businesses

417,092 378,523

Total Employees

EMPLOYMENT

40% 6%

White Collar

25% 7%

Blue Collar

35% 0%

Services

7.0% 2.1%

Unemployment Rate

INCOME

$37,998 $15,493


$18,082 $455

Per Capita Income

$16,545 $5,428

Median Net Worth

1 mile Benchmark 3 miles 5 miles

Prepared by EsriLatitude: 36.16690

Longitude: -115.14470



KEY FACTS

17,872Population

43.7

Median Age

1.9



Income

EDUCATION

22%

No High School


Graduate

29%Some College 15%


BUSINESS



EMPLOYMENT

46%White Collar

18%Blue Collar

35%Services

9.1%

Unemployment Rate

INCOME




KEY FACTS

190,807 172,935

Population34.9 8.8

Median Age

2.8 1.0


$33,835 $11,330


EDUCATION

29% 7%

No High School

Diploma 34% 0%


24% 5%

Some College13% 2%


BUSINESS

9,412 7,087

Total Businesses

160,075 121,506

Total Employees

EMPLOYMENT

39% 7%

White Collar

25% 7%

Blue Collar

36% 1%

Services

6.9% 2.2%

Unemployment Rate

INCOME

$33,835 $11,330


$17,873 $246

Per Capita Income

$14,341 $3,224

Median Net Worth

KEY FACTS

545,290 527,418

Population33.9 9.8

Median Age

2.9 1.0


$37,998 $15,493


EDUCATION

27% 5%

No High School

Diploma 34% 0%


25% 4%

Some College13% 2%


BUSINESS

24,341 22,016

Total Businesses

417,092 378,523

Total Employees

EMPLOYMENT

40% 6%

White Collar

25% 7%

Blue Collar

35% 0%

Services

7.0% 2.1%

Unemployment Rate

INCOME

$37,998 $15,493


$18,082 $455

Per Capita Income

$16,545 $5,428

Median Net Worth


Prepared by EsriLatitude: 36.16690

Longitude: -115.14470



KEY FACTS

17,872Population

43.7

Median Age

1.9



Income

EDUCATION

22%

No High School


Graduate

29%Some College 15%


BUSINESS



EMPLOYMENT

46%White Collar

18%Blue Collar

35%Services

9.1%

Unemployment Rate

INCOME




KEY FACTS

190,807 172,935

Population34.9 8.8

Median Age

2.8 1.0


$33,835 $11,330


EDUCATION

29% 7%

No High School

Diploma 34% 0%


24% 5%

Some College13% 2%


BUSINESS

9,412 7,087

Total Businesses

160,075 121,506

Total Employees

EMPLOYMENT

39% 7%

White Collar

25% 7%

Blue Collar

36% 1%

Services

6.9% 2.2%

Unemployment Rate

INCOME

$33,835 $11,330


$17,873 $246

Per Capita Income

$14,341 $3,224

Median Net Worth

KEY FACTS

545,290 527,418

Population33.9 9.8

Median Age

2.9 1.0


$37,998 $15,493


EDUCATION

27% 5%

No High School

Diploma 34% 0%


25% 4%

Some College13% 2%


BUSINESS

24,341 22,016

Total Businesses

417,092 378,523

Total Employees

EMPLOYMENT

40% 6%

White Collar

25% 7%

Blue Collar

35% 0%

Services

7.0% 2.1%

Unemployment Rate

INCOME

$37,998 $15,493


$18,082 $455

Per Capita Income

$16,545 $5,428

Median Net Worth


DEMOGRAPHICS1

MIL

E

3 M

ILES

5 M

ILES

KEY FACTS KEY FACTS KEY FACTS

EDUCATION EDUCATION EDUCATION

BUSINESS BUSINESS BUSINESS

EMPLOYMENT EMPLOYMENT EMPLOYMENT

INCOME INCOME INCOME


Mark J. Musser is a Director of Investment Sales at Northcap Commercial, where he works in the marketing

and sales of commercial real estate. Mark is a veteran broker in the Las Vegas commercial real estate

marketplace having closed over $300,000,000 in commercial investment sales in his career. Mark’s

experience is focused primarily on selling investment real estate including multiple retail, office, industrial

and single tenant NNN properties.

Mark previously was a Partner at NAI Global for five years, Senior Associate at ARA for eight years, and

an Associate for Marcus Millichap. Mark has been a top producing agent at all of the national firms he

has worked.

Mark prides himself on being client focused and driven. He always listens to his clients needs and goals

and works toward producing results for his clients.



OUR SPECIALISTSPARTIAL LIST OF TRANSACTIONS

B A C K G R O U N D & E X P E R I E N C E

S E R V I C E S P E C I A L I T YInvestment Sales, Office, NNN

E D U C A T I O NBS - The Pennsylvania State University,Real Estate

University Park, PA

AutoZone NNN • 7,200 SF $1,775,000

Regency Plaza • 60,000+ SF ft. Inline Retail $9,250,000

Regency Plaza II • 25,000+ SF ft. Inline Retail $5,250,000

Spring Mountain Rd China Town Retail Center $5,000,000

Boca Park Retail Pad NNN $6,000,000

Terrible Herbst C-Store NNN $2,310,000

Family Dollar NNN and Land $1,700,00

Jack in The Box/C-Store NNN $4,200,000

Nevada Federal Credit Union NNN $3,740,000

Mountain Vista Industrial Building • 28,000 SF $1,450,000

Montessori Industrial Building • 6,060 SF $619,000

E. Charleston Retail • 12,000 SF $1,450,000

Eastern Avenue Office Building • 20,000 SF $1,400,000

Lake Sahara Plaza Office • 12,300 SF $1,250,000

Great American Plaza Office • 27,000 SF $2,775,000

Sunset Green Valley • Retail Shopping $5,750,000

Tompkins Office Building • 21,500 SF $1,180,000

Patrick Industrial Building • 7,100 SF $625,000

Lake Sahara Plaza Office II $1,350,000

Oasis Business Park Office • 22,000 SF $4,000,000

The Park @ Northpointe Office • 27,000 SF $625,000

South Shore Office Building • 25,000 SF $5,200,000

City Centre Plaza $6,200,000

Paradise Professional Plaza • 46,000 SF $5,600,000

Dino Plaza • 16,500 SF $3,800,000

Alamo Plaza Office $1,000,000

Spring Mountain Road Office $4,750,000

Valley View Industrial $937,000

Eastern Avenue Office Law Building $1,850,000

Buffalo Canyon Retail Center $2,850,000

Durango & Edna 4 Acres Land $4,000,000

Sandstone Office Park • 3,750 SF $525,000

P R O F E S S I O N A LA F F I L I A T I O N S& D E S I G N A T I O N SNAIOP - Associate Members

SIOR - Associate Member

CCIM - Company Sponsor

C L I E N T T E S T I M O N I A L

“Mark is a hard worker! He knows how to think outside the box and make deals happen. He is very direct and

personable and truly knows how to sale investment real estate. I will list every property I own with Mark as he

knows how to maximize my returns.”

Barry Ross, Owner

Las Vegas, NV

OUR SPECIALISTS


LAS VEGAS MARKET

ALLEGIANT STADIUM

RAIDERS HEADQUARTERS

Excerpt from reviewjournal.comBy Ed Graney | December 2019

Excerpt from reviewjournal.comBy Mick Akers | December 2019

”The sports landscape in Las Vegas will change permanently in 2020 with the arrival of the Raiders to their new home, a $2

billion structure of 65,000 seats and all the lavish amenities found in new and instantly recognizable NFL stadiums.

“To all the players and coaches and fans who have ever worn the silver and black, this is our Field of Dreams,” said Raiders

owner Mark Davis. “I said that at the ground-breaking and believe it even more now. It’s a public-private partnership working

the way it is supposed to.

“Vegas has always been the entertainment capital of the world, but now we really are becoming the sports capital as well.

This stadium will bring new levels of enthusiasm and galvanize the community. It’s going to be very impactful for Las Vegas.”

It’s no longer an illusion. It’s real.

Allegiant Stadium is set for completion July 31...”

While most eyes are on Allegiant Stadium’s construction progress, the Raiders headquarters 12 miles away in

Henderson is also rounding into form.

The under construction 335,000-square-foot facili ty located across the street from Henderson Executive Airpor t is

slated to cost nor th of $75 million to construct, according to Raiders’ President Marc Badain.

Around 300 employees will work at the team’s of fice, where the team’s operations will be conducted, when it

opens in June.

The 135,000-square-foot of fice area is now fully enclosed in dark tinted glass, with light grey side panels being

installed, giving it a very Raiders feel. The glass is similar to the panels being used at Allegiant Stadium, which are

darker on the outside, but more translucent from the inside.

In addition to the headquarters area, the facili ty will feature a 150,000-square-foot field house and a 50,000

square-foot performance center, which the team announced Monday will be called the Intermountain Healthcare

Performance Center...”

DEVELOPMENT PROJECTS

LAS VEGAS MUNICIPAL COURTHOUSE

MSG SPHERE

Excerpt from reviewjournal.comBy Shea Johnson | June 2019

Excerpt from news3lv.comBy Matthew Seeman | December 2019

Las Vegas officials on Tuesday ushered in the start of construction on a $56 million municipal courthouse, a four-story facility

that Mayor Carolyn Goodman cast as a “one-stop shop” for local-level justice needs.

“This building is now the latest piece in a fully realized justice corridor in the heart of downtown,” Goodman said during the

morning groundbreaking ceremony. Located at 100 E. Clark Avenue, near City Hall, the courthouse’s pending construction

represents the beginning of a long-awaited move for municipal court operations out of the Regional Justice Center. It is expected

to be completed by January 2021. Municipal Court Chief Judge Cynthia Leung said the new facility will help the courts be

more efficient and accessible to the public

The new courthouse, which will be nearly 140,000 square feet, will set aside space for traffic court, administration, customer

service, classrooms and the city attorney’s criminal division. The building will be energy efficient to reduce overall operating

expenses....”

The MSG Sphere in Las Vegas remains on track to open in 2021 as construction continues on the ambitious event space,

according to a spokeswoman.

Crews poured more than 33,000 cubic yards of concrete and laid more than 14 million pounds of rebar in 2019, MSG

spokeswoman Maire Griffin said in a press release.

Vertical construction is now happening at 65 feet above ground level, while below-grade mechanical, electrical and

plumbing work has started

Concrete has also been poured for the second-floor atrium and the foundation for the stage, according to the press

release.

Crews are expected to reach the widest section of the sphere, referred to as the “equator,” sometime in 2020, while the

steel sphere wrapping will start as well.

MSG Sphere, a joint venture of The Madison Square Garden Company and Las Vegas Sands, is expected to reach

875,000 square feet and hold about 17,500 seats once complete...”


LAS VEGAS MUNICIPAL COURTHOUSE


UNCOMMONS

CIRCA HOTEL & CASINO

Excerpt from businesswire.comBy Nadene Gallagher | October 2019

Excerpt from reviewjournal.comBy Richard N. Velotta | October 2019

Construction financing has been secured for UnCommons, a first-of-its kind mixed-use development in southwest Las Vegas

being developed by Matter Real Estate Group. The highly anticipated $400-million project will break ground this spring and

be completed in fall 2021.

The curated office, restaurant, food hall, lifestyle and residential offerings, designed by the globally renowned architecture firm

Gensler, will be complemented by a pedestrian trail, multi-purpose conference center and inspirational art, all situated on an

easily walkable 40-acre site.

“UnCommons will bring Las Vegas residents a vibrant, new centerpiece to the community: a modern, urban-inspired mixed-use

development designed to enhance the lives of the people who live and work there,” said Matter Real Estate Partner Jim Stuart.

“Much of what will make UnCommons stand out will be the food and beverage lineup. Additionally, the lifestyle offerings

are being curated to showcase some of Las Vegas’ top talents, as well as boutique brands that will be new to the market...”

The skyward progress of downtown’s newest resor t is on schedule, but Circa owner Derek Stevens sti l l has a few

surprises up his sleeve.

Stevens said both the 777-room resor t at Main and Fremont streets and the nine-story, 1,201-space parking garage

known as the “Garage Mahal” are “going down the right path.”

The garage is being built on the west side of Main and will be connected to the resor t with a bridge over the

street. The garage is being designed with the convenience of ride-hailing drivers and their customer pickups and

drop-of fs in mind.

“The key bullet points are that both Circa and Garage Mahal are on time and we’re progressing right on time for

our planned December 2020 opening,” Stevens said Monday.

The 600-worker crews on dif ferent shifts around-the-clock will pour the concrete floor of the building’s 10th story this

week, and Stevens said the schedule is to pour a floor a week for the next 30 weeks. The 1.25 million-square-foot

resor t, with 44 floors dominated by suites, will feature the tallest hotel tower nor th of the Strip....”


BLUETECH PARK

VIRGIN HIGH SPEED TRAINS

RESORTS WORLD

Excerpt from news3lv.comBy Mick Akers | October 2019

Excerpt from reviewjournal.comBy Richard N. Velotta | October 2019

The proposed high speed train between Las Vegas and Southern California continues its track toward becoming a reality

as the Golden State has approved a $3.25 billion bond request to go toward the $4.8 billion project.

The board of directors of the California Infrastructure and Economic Development Bank (IBank) on Wednesday approved

a bond request on behalf of Virgin Trains USA that will go toward constructing 135 miles of rail lines in California as

well as a passenger and maintenance facility in the Victor Valley region...”

It will have taken a decade, but the first megaresort to open on the Las Vegas Strip since late 2010 is on track for a

late 2020 opening.

Genting Berhad’s $4 billion, 59-story, 3,400-room Resorts World Las Vegas is steadily moving forward and will be the

first Las Vegas megaresort opening since The Cosmopolitan of Las Vegas in December 2010....”

Excerpt from ktnv.comBy KTNV Staff | November 2019

Bleutech Park, a $7.5 billion energy-efficient mini-city, has secured a parcel of land at the south end of Las Vegas

Boulevard.

The project will sit on 210 acres on Las Vegas Boulevard near Cactus Avenue and usher in an unprecedented renaissance

of the global digital infrastructure industry into Southern Nevada, according to a company spokesperson

Bleutech Park will feature 100% “off-the-grid,” ultra-luxury residential, sustainable living residential, tech-smart office

facilities, retail space, a futuristic 3,000-keys hotel, a dream surfing destination with an innovative pool - guaranteed

waves - and an exotic beach environment, in addition to a full-entertainment, state-of-the-art 1,200 ft. tower...”


BLUETECH PARK



Tivoli Village400 S Rampart Blvd. Ste 220

Las Vegas, NV 89145www.northcapcommercial.com

PHILLIP KEUCHSenior Investment Advisor

703 881 2089 [email protected] #: NV S.0179758

325 s. 3rd street, las vegas, nv - loopnet...• 325 s. 3rd street mark j. musser is a director of...

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