HIGHLY UPGRADED HVAC-A/C INDUSTRIAL WAREHOUSE-SHOWROOM-OFFICE

PROPERTY IS EXCLUSIVELY REPRESENTED BY Jeffrey Linn of a Real Estate World.Com Las Vegas1 Call: 702 203-4988 or email: arewlv1@gmail.com
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 PROPERTY IS EXCLUSIVELY REPRESENTED BY Jeffrey Linn of a Real Estate World.Com Las Vegas1  702 203-4988  or email: arewlv1@gmail.com

 2640 West Brooks Avenue, North Las Vegas, Clark County, Nevada 89032

FOR SALE:   $2,600,000 Great Industrial building with Upgraded HVAC Build-Out Ready to Go! Located in a professional, high image business park in the heart of the Cheyenne Ave technology corridor and adjacent to the North Las Vegas Airport, providing convenient access to both I-15 and I-95. Cheyenne West Corporate Center is a +/- 37 acre mixed use professional business park.

Cheyenne West Corporate Center Phase III, Building J At 2640

West Brooks Avenue, North Las Vegas, Clark County, Nevada 89032

Lot size: 1.04 acres with Building Size of 15,330 square feet, including 11,090 square feet (72%) of HVAC air conditioned/heated showroom and sales floor with M2 Zoning.

SKYLIGHTS- 1 HIGH DOCK – 2-GRADE LEVEL ¾ OF THE WAREHOUSE IS HVAC CENTRAL AIR CONDITIONED/HEATED – OFFICE BUILD OUT INCLUDES OPEN OFFICE INTO WAREHOUSE COULD BE USED FOR SHIPPING AREA, SNACK BAR ECT. THERE IS ALSO A BREAK ROOM AND OTHER PRIVATE OFFICES THE BUILDING IS FULLY NETWORKED WITH A LL THE CABLE RUNS IN PLACE. LIGHTS GALORE WITH CEILING FANS AND HEATER IN SIDE SHIPPING/RECEIVING AREA.

Year Built: 2004

Lot size: 1.04 acres

Building Size: +/- 15,330 square feet

Economic Life: 50+/- Years

Number of Stories: One-story plus mezzanine

Building Height: +/-30 feet

Warehouse Clear Height: +/-24 feet

Foundation: +/-6” reinforced concrete slab

Exterior Walls: Concrete tilt-up

Roof Structure: Flat built-up roof system over pre-fabricated metal trusses

Interior Construction: 5/8” wall board, textured and painted, over 2”x4” non-bearing walls

for office build out

Ceilings: Open trusses; textured wall board in office and restroom; skylights

Windows: Tempered glass in aluminum frame

Exterior Doors: Tempered glass in aluminum frame and hollow metal doors; one 14-

foot overhead roll-up door

Floors: Sealed concrete in showroom; office floor coverings installed by buyer

Plumbing: ADA-accessible restroom with shower

Electricity: 400 amps of 120/208/3-phase power

Doors: 1 HIGH DOCK – 2-GRADE LEVEL + Entrance

HVAC: 2.5-ton, roof-mounted package A/C-Heat unit

Fire Suppression: Fire sprinkler system

 ZONING

The site is currently zoned M-2 (General Industrial) by the City of North Las Vegas. The M-2 district is established “to provide for the development of uses which, because of the nature of their operation, appearance, traffic generation, or emission, would not be compatible with land uses in most other zoning districts, but which, nevertheless, are necessary and desirable activities in the city.”

GENRAL DESRIPTION

The subject property consists of a 15,330-square-foot office warehouse building. The subject was constructed in 2004 and is generally intended for single-tenant occupancy. A floor plan and photographs are included in the Addenda. The building includes a 24-foot clear-height, fire sprinklers, and full HVAC. The interior build out includes 11,090 square feet (72%) of air-conditioned sales floor and showroom area.

The description of the subject improvements is based upon a physical inspection of the subject on October 17, 2007. The improvements consist of concrete tilt-up exterior walls with a prefabricated metal truss roof with a clear height of approximately 24 feet. The building includes skylights and 3-phase electrical service. The building includes a lighted, asphalt-paved parking lot with 27 parking spaces directly in front of the building including two HC designated spaces. Landscaping includes drought tolerant

shrubs, bushes and trees within planters around the site.

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MARKET AREA BOUNDARIES

The subject’s market area includes a portion of the City of North Las Vegas. The market area is approximately six miles north of downtown Las Vegas and 12 miles north of the Las Vegas Strip and McCarran International Airport. The market area in which the subject will compete is generally defined as the Las Vegas Northern Beltway alignment to the north, Interstate 15 to the east, and U.S. Highway 95 to the south and west.

MARKET AREA LAND USE

The market area is approximately +70% built-out, with the southern portion of the market area under more intense development. The market area consists of a mixture of single-family, multifamily, commercial and industrial projects. As is common for the majority of the Las Vegas area, commercial properties are developed along the major arterial roads and industrial properties are developed on interior sites proximate to the Interstate 15 freeway with intermittent pockets along major arterial roads proximate to the North Las Vegas Airport. Significant residential development has occurred on the more interior buffered parcels with a recent emphasis on higher density projects.

Master-Planned Communities

There are several master-planned communities (MPC) in the area. El Dorado is located south of Centennial Parkway and Clayton Drive. Rancho Del Norte is located at Lone Mountain Road and Camino Al Norte. Los Prados is one of the oldest projects located at Decatur Boulevard and Lone Mountain Road. Lynbrook is a more recent master planned development at Elkhorn Road and Decatur Boulevard. Elkhorn Springs and Spring Mountain Ranch are also more recent developments located at Elkhorn Road and Rancho Drive. The Mountain Spa development is recent development adjacent to the Floyd Lamb State Park east of Durango Drive and north of Racel Street, just outside of the immediate market area.

Las Vegas Motor Speedway

The Las Vegas Motor Speedway (LVMS) is located in northeast North Las Vegas at Interstate 15 and Speedway Boulevard. This 1,600-acre, $200 million state-of-the-art facility has been recognized as one of the premier race complexes in the world. With more than a dozen different venues ranging from go-karts to NASCAR Winston Cup at the 1.5-mile super speedway, the facility draws hundreds of thousands throughout the year. Construction on the speedway began in 1995, with the grand opening in 1996.

North Valley

Of major significance to the subject and the North Las Vegas area is the ongoing transfer of 7,500 acres of federally owned land along the Northern Beltway to developers. The vacant land will likely be purchased by several bidders under the development guidelines of the City of North Las Vegas, and could become a master-planned community comparable in size to Summerlin and Henderson’s Green Valley. The North Las Vega mayor and state BLM Director signed a document to develop 7,500 acres on the valley's northern tip in phases, with 33% of the land dedicated to parks, libraries, schools, fire stations, police stations, roads and construction of the Las Vegas Beltway. The agreement allows North Las Vegas to grow and ensures that the public gets the most value from the sale of public land. The development is the Aliante master-planned community being developed by North Valley Enterprises, a partnership between Del Webb Corporation and American Nevada Corporation.,who bid $47.2 million at a federal land auction in May, 2001 for the right to develop the first1,905-acre phase of the 7,500-acre federal land parcel. The developer has also committed $7.25 million for 45 acres of parks and $2.5 million for public service facilities, such as a fire station, police station and municipal services facilities, in addition to setting aside land for three schools.

Just north of the beltway within Aliante is a 54-acre site marked for a neighborhood casino and a regional commercial center. The residential components of the community are divided between an age-restricted community in the northwest, being developed by Del Webb, and a range of entry-level to higher-end housing, being developed by American Nevada, throughout the rest of the project. Aliante is limited to no more than 7,500 housing units, an average of 4.3 units per acre, and about 80 acres of commercial development concentrated primarily near the beltway. The preliminary plans call for housing density as high as 18 units per acre and as low as three units per acre.

Medical Services

Most medical support facilities are located south of the subject. The nearest hospital is the 185-bed North Vista Hospital (formerly Lake Mead Hospital) located near Lake Mead Boulevard and Las Vegas Boulevard. The 235-bed Columbia Mountain View Hospital is located within the Las Vegas Tech Center near the southeast corner of Cheyenne Avenue and Tenaya Way. Universal Health Services has announced plans to build Centennial Hills Hospital within the Montecito Town Center area at the northwest quadrant of U.S. 95 and the Las Vegas Beltway.

Shopping

Neighborhood shopping centers are located at many of the major intersections along Ann Road, Craig Road, and Camino al Norte. Commercial uses have been designated for certain areas within the City of North Las Vegas, adjacent to several of the master-planned developments.

Recreational Amenities

Recreational amenities conducive to a neighborhood consist primarily of the Craig Ranch Golf Course and the Shadow Creek Golf Course and several private courses associated with the master planned developments discussed earlier. The Las Vegas Motor Speedway is east of the subject adjacent to Nellis Air Force Base. The Sunrise Mountain Natural Area managed by the Bureau of Land Management (BLM) is located further east of the Nellis Air Force Base.

TRANSPORTATION

Major north/south transportation corridors within the market area include U.S. Highway 95, Rainbow Boulevard, Jones Boulevard, Decatur Boulevard, Camino Al Norte/Martin Luther King Boulevard, Losee Road, and Interstate 15. Major east/west transportation corridors include the Northern Beltway, Centennial Parkway, Ann Road, Craig Road, Cheyenne Avenue, and Lake Mead Boulevard. The Las Vegas Northern Beltway from Highway 95 to Interstate 15 is complete and open to traffic as a frontage road facility. The Northern Beltway now provides better access to the

market area from other portions of the Las Vegas Valley. The “initial facility” consisting of the frontage road network will be upgraded to the “ultimate facility” as funding becomes available and traffic demands warrant.

Demand for new single-family and affordable multi-family housing as well as commercial development is expected to remain strong in the North Las Vegas area for at least the next two to three years. The subject property is well positioned to be economically viable due to its location within a growing part of the North Las Vegas community. The forecast for the area is positive in terms of both population growth and household income in the near future.

LOCATION AND ADDRESS

The subject site is located in the northern portion of the Las Vegas metropolitan area at the southeast quadrant of Cheyenne Avenue and Simmons Street in North Las Vegas, Clark County, Nevada 89032. The subject is located approximately 2.5 miles west of I-15, and 2 miles east of Rancho Drive.

COUNTY PARCEL NUMBER

The subject is identified as Clark County Assessor’s Parcel Number 139-17-510-010.

SIZE & SHAPE

According to the County Assessor, the subject contains 1.04 net acres, or 45,168 square feet.

ACCESS

Direct access to the subject property is from Brooks Avenue to the south, which provides

entrance to Cheyenne West Corporate Center Phase III.

STREETS

Brooks Avenue is a collector or secondary arterial street with an 80-foot wide right-of-way.

UTILITIES

The following utilities are available to the subject site:

Water: Municipal (City of North Las Vegas)

Sewer: Municipal (City of North Las Vegas)

Electricity: Nevada Power Company

Gas: Southwest Gas Corporation

Telephone: Sprint Communications

SITE IMPROVEMENTS

The subject is a fully improved site within the Cheyenne West Corporate Center including paved access.

EASEMENTS AND RESTRICTIONS

A Preliminary Title Report was not provided; however, it is assumed that there are no easements or restrictions that would limit, in a meaningful way, the subject property’s potential use.

FEMA FLOOD HAZARD ZONE

According to FEMA Map 32003C 2160, revised September 27, 2002, the subject site is located in Zone X, areas determined to be outside the 500-year floodplain. The Clark County Regional Flood Control District’s map is presented on the following page.

SITE ANALYSIS CONCLUSION

In conclusion, The overall shape of the site is good. Location south of Cheyenne Avenue provides average access and exposure. The site appears to be functionally adequate for a wide range of industrial uses and is considered functionally adequate for its existing office warehouse use. The subject site consists of a rectangular-shape parcel containing 1.04 acres located in the Cheyenne West Corporate Center at the southeast quadrant of Cheyenne Avenue and Simmons Street in North Las Vegas. The site is consistent in size and shape to other parcels in this area. Overall, the subject parcel provides good utility and is considered desirable in the marketplace.

INDUSTRIAL MARKET CONCLUSION

The local industrial market has been strong in recent years with increases in supply and demand.Demand outpaced supply in 2003 through 2005 after a soft market in 2001 and 2002 due to the national recession that began in early 2001, and exacerbated by the terrorist attacks of September 11, 2001. However, the industrial market came roaring back in 2003 through 2005, particularly due to a shortage of vacant developable industrial land. As land values of all property types have increased in the Las Vegas market over the past two years, residential home builders have purchase vacant industrial land and rezoned it for residential uses driving up land prices and causing a shortage of vacant industrial land. The market has remained strong throughout 2006

and into 2007 with currently overall market vacancy of only 4.4% and North Las Vegas

Submarket vacancy of 3.7%.

HIGHEST AND BEST USE AS IF VACANT

The subject’s development potential is based on legally permissible uses as allowed by the current and/or potential zoning of the subject site. The subject parcels are currently zoned M-2 (General Industrial). The M-2 district is established to provide area suitable for the development of light manufacturing establishments with limited outside uses and to prohibit the development of incompatible uses.

Given the existing industrial zoning, the subject’s small parcel size, and location in an industrial area, the highest and best use of the subject site (as vacant) is considered to be a small industrial development.

HIGHEST AND BEST USE AS IMPROVED

The subject parcel is improved with a 15,330-square-foot office warehouse building. The existing improvements fully utilize the site with an adequate coverage ratio and no excess or surplus land. Based on the subject’s location and economic conditions, the highest and best use of the subject as improved is for continued office warehouse use.

DISCLOSURE: The information provided or contained herein has been obtained from sources believed reliable, but not guaranteed. While we do not doubt its accuracy, Broker(S) have not verified it and make no guarantee, warranty, or representation about it.  These listings are subject to errors, omissions, changes, and prior sale or lease or withdrawal from the market without written notice Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.  Purchasers and Tenants should conduct a careful, independent investigation of the property during a due diligence period to determine to their satisfaction the accuracy and completeness of the information contained herein prior to any purchase or sale. Any and All Buyers and Brokers agree to Release Listing Broker from any liability, torts, claims ect..in reference to the information provided in this offering should a transaction take place.

PROPERTY IS EXCLUSIVELY REPRESENTED BY Jeffrey Linn of: a Real Estate World.Com Las Vegas1  702 203-4988  or email: arewlv1@gmail.com

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