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Harmon Square - Liquor World 4503 Paradise Rd

5,408 SF Retail Building Las Vegas, NV 89119 £4,154,027 (£768/SF) 5.50% Net Initial Yield

Executive Summary

The property is a generational asset located 1.2 miles from the world-famous Las Vegas Strip. It is the closest full-service liquor store to the west entrance of the UNLV campus, which includes facilities such as the Thomas & Mack Center, track and field, softball, baseball, soccer, tennis, and intramural fields. Situated at an iconic location on the hard corner of Paradise and E Harmon with a traffic count of 64,500 vehicles per day, the property enjoys strong visibility and accessibility. With historical occupancy, a tenant recently demonstrated their success at this location by extending their lease for an additional 15 years. Located in a dense resort corridor, the property benefits from over 2,500 hotel rooms within 0.3 miles and is supported by a built-in customer base of 124,133 residents within a 3-mile radius and 392,211 residents within a 5-mile radius.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
5,408 SF
Building Class
B
Year Built/Renovated
1987/2015
Price
£4,154,027
Price Per SF
£768
Net Initial Yield
5.50%
NOI
£228,500
Tenancy
Single
Number of Floors
1
Building FAR
0.16
Lot Size
0.79 AC
Zoning
H-1, County - Commercial Retail
Parking
37 Spaces (6.84 Spaces per 1,000 SF Leased)
Frontage
368 ft on Harmon Ave

Amenities

  • Bus Route
  • Corner Lot
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalised Intersection
  • Storage Space

Nearby Major Retailers

Teriyaki Madness
Checkers
Hard Rock Cafe
Dog Haus
Capriotti's
Famous Dave's
Morton's, The Steak House
The Habit Burger Grill
Buca Di Beppo
Bahama Breeze

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 162-22-312-003
  • 162-22-312-002
Land Assessment
£1,314,786
Improvements Assessment
£805,671
Total Assessment
£2,120,457
  • Listing ID: 34083449

  • Date on Market: 04/12/2024

  • Last Updated:

  • Address: 4503 Paradise Rd, Las Vegas, NV 89119

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