2 Story | Four Teller Drive-Thru Lanes | ±14,000 SF...Cathy Jones, CPA, SIOR, CCIM CEO 702-968-7320 [email protected] Roy Fritz Senior Vice President 702-968-7322 [email protected]

SunCommercial Real Estate, Inc.

Offering MeMOranduM | Vacant Bank Building With incOMe

2 Story | Four Teller Drive-Thru Lanes | ±14,000 SF107-111 S. Water Street, Henderson, Nevada 89015

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Roy FritzSenior Vice President

[email protected]

Paul MiachikaExecutive Vice President

[email protected]

Taylor VasquezAssociate

[email protected]

Sun Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148

702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com

Jessica CegavskeVice President702-968-7321

[email protected]

cOntacts

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3 The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness

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SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

Cathy Jones, CPA, SIOR, [email protected]

cOnfidentiality & disclOsure


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Property SummaryProperty PhotosFloor Plan - First FloorFloor Plan - Second FloorBank of America Exterior Lighting UpgradeSurrounding AerialAssessor Parcel MapSoutheast Las Vegas Valley Location MapOpportunity Zone - Henderson Map

Financial Overview

Las Vegas Valley Overview

Section 3

Section 4

Rent Roll - As IsProforma Rent Roll

Market Overview Section 2

Las Vegas Office & Southeast Las Vegas/Henderson Submarket ReviewArea Demographics

Investment Overview Section 1

taBle Of cOntents


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inVestMent highlights

THE OFFERING

Sun Commercial Real Estate, Inc. is pleased to offer an exceptional owner/user opportunity to purchase a vacant ± 14,000 SF two (2) story building located in the heart of the Historic Water Street District. The offering includes a ± 14,000 SF former bank building with four (4) drive-thru lanes at a signalized hard corner and is also located in Henderson’s Downtown Redevelopment Area. The property offers exposure on Water Street within 5 minutes of the 215 Beltway and U.S. 95.

INVESTMENT HIGHLIGHTS

• Owner User/Value-Add Opportunity with Income – ± 14,000 SF Retail/Office building that was a former bank. • In-Place Income with Maximum Flexibility – Bank of America leases 3 ATM’s located on site which create a positive NOI for the

property of $24,090. Additionally the owner has the flexibility to cancel the lease at any time with 180 days’ notice.• Redevelopment Area – The Property could qualify for two (2) different grants available through the Henderson Downtown

Redevelopment Area – Facade Improvement Grant – up to $27,000 including signage, and Tenant Improvement Grant – up to $50,000.

• Drive-Thru Lanes – The Property includes Four (4) drive-thru lanes offering versatility for several uses • Signalized Corner - The Property is located at the signalized intersection of Water Street and Pacific Avenue • Opportunity Zone - Located in a nominated Opportunity Zone which potentially would allow a buyer to have 1031 taxable

gains forgiven after 10 years - See page 15 for further explanation

Asking Price:

Lot Size (Net):

$1,950,000

± 14,000 SF

± 1.02 Acres

SUMMARY

Square Footage:

Zoning: Downtown Mixed Use (DX)

Occupancy: Vacant - Except Bank of America Leases the ATM’s and Drive-Thru’s - Mutual Option to Cancel the Lease

Ownership: Fee SimpleIn-Place NOI: $24,090


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Property Location:

Property Description:

Assessor Parcel Number:

Building Size:

Site Size:

Construction Year:

Zoning:

Parking Ratio:

Traffic Counts:

Bank Vault:

ATM’s:

This Property is located on the southeast corner of South Water Street and East Pacific Avenue, having the civic address of 107-111 South Water Street, Henderson, Nevada. The Property is located 2 miles west of the 215 Beltway, and U.S. 95, in the heart of the historic Water Street District in Henderson. As of 2017, there were 172,012 residents within a 5-mile radius with a median household income of $58,464.

This Property consists of a vacant two-story single tenant retail building with up to four bank drive-thru lanes, built in 1964 and totals ± 14,000 square feet. The Property has four second floor offices, a built in bank vault, teller and open offices spaces on the first floor. The building may be a single tenant building or demised into two floors ranging with sizes of 6,452 and 7,548 square feet. The property has excellent street exposure on South Water Street offering 200 feet of frontage and traffic counts of over 8,500 cars per day.

179-18-710-043

± 14,000

± 1.02 Acres

1964

DX (Downtown Mixed-Use)

3.0 per 1,000 (42 parking spaces)

On S. Water Street, N. of Pacific Avenue - ± 8,500 CPD

The interior Bank Vault is included in the sale of the real estate

The Tenant, Bank of America, owns the ATM’s machine and they would be removed if the lease is canceled

PrOPerty suMMary


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8


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flOOr Plan - first flOOr

9


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flOOr Plan - secOnd flOOr

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Bank Of aMerica exteriOr lighting uPgrade - 2018

11

LU-3

OVERALL SITE PLAN

âBank of America

S. W

ATE

R S

T.

BLUEGREEN

ORANGE

= NEW FIXTURE= EXISTING FIXTURE LOCATION TO BE REPLACED= EXISTING FIXTURE TO REMAIN= FIXTURE TO BE REMOVEDTURQUOISE

PL = PROPERTY LINE BASED ON COUNTY APPRAISAL INFORMATION

PINK = REPLACE WITH NEW POLE AT NEW HEIGHT= INDICATES NEW SECURITY FENCE

E. PACIFIC AVE.

SCALE: 3/4" = 1'-0"

DESCRIPTIONREVISIONNO.

1

2

3

REVISEDBY

REVISED XX KRM

SHEET NO.

DESIGN BY:

REVIEWED BY:

DRAWN BY:

APPROVED BY:KRM

JSRDJC

ABH

SN1

SE1

UU1

SK1

GY1 (NEW POLE)HG1 (NEW POLE)

SK2

SJ1

SJ1

HG1 (NEW POLE)

SF1SF2

SA1

SF3

BP1BP1BP1

R1R1

R1R1

R1

SJ1

HG1 (NEW POLE)

SE1

Y1 Y1 Y2

Y3 Y3

BQ1 BQ1BQ1

BQ1 BQ1 BQ1

AHD (CLOSED)

ATM2

ATM1

ATM3

PL

PL

PL

PL

PL

PL

PL

PL

PL

PL

PL

PL PLPL PL PL PL

PLPL

PLPL

PLPL

PLPL

PL

PLPLPLPLPLPLPLPLPLPL

SITE NOTE 2

SITE NOTE 2

SITE NOTE 1

ALL Y FIXTURES ARECONTROLLED BY OTHERS

DT1

Henderson BranchNV1-109

107 South Water St.Henderson, NV

NOTE: THIS LIGHTING PLAN ILLUSTRATES ILLUMINATION LEVELS CALCULATED FROMLABORATORY DATA UNDER CONTROLLED CONDITIONS IN ACCORDANCE WITHILLUMINATING ENGINEERING SOCIETY OF NORTH AMERICA (IESNA) APPROVEDMETHODS. ACTUAL SITE ILLUMINATION LEVELS AND PERFORMANCE OF LUMINARIESMAY VARY DUE TO VARIATIONS IN WEATHER, ELECTRICAL VOLTAGE, TOLERANCE INLAMPS AND OTHER RELATED VARIABLE FIELD CONDITIONS.

v1 180409

SITE NOTES:

CONTRACTOR TO INSTALL POLE WITH A 3' BASE PAINTED YELLOW TO PROTECT POLE.FIXTURES ARE REQUIRED FOR ATM COMPLIANCE. BANK MUST HAVE LANDLORD AGREETO LEAVE FIXTURES ON ALL HOURS OF DARKNESS.LIGHTING IS REQUIRED FOR COMPLIANCE AND WILL REQUIRE LANDLORD APPROVAL PRIOR TO INSTALLATION.

1.2.

3.

EXISTING CONDITIONS:

1.2.3.

EXISTING POLES - N/AEXISTING POLE BASES - N/AEXISTING DRIVE THRU CEILING - HARD

LUMINAIRE SCHEDULE **SEE FIXTURE CLARIFICATION NOTE #9 (NP) = NEW POLE (CBO) CONTROLLED BY OTHERS

QTY LABEL

3 BP1

6 BQ1

1 DT1

1 GY1 (NP)

3 HG1 (NP)

1 SA1

2 SE1

1 SF1

1 SF2

1 SF3

3 SJ1

1 SK1

1 SK2

1 SN1

1 UU1

5 R1

2 Y1 (CBO)

1 Y2 (CBO)

2 Y3 (CBO)

NOTES

REPLACE EXISTING FIXTURE



ADD NEW POLE AND FIXTURE

ADD NEW POLE AND FIXTURE

ADD NEW FIXTURE



ADD NEW FIXTURE

ADD NEW FIXTURE


ADD NEW FIXTURE

ADD NEW FIXTURE


ADD NEW FIXTURE

REMOVE AND PATCH

OUT OF SCOPE

OUT OF SCOPE

OUT OF SCOPE

MOUNTING HEIGHT

MATCH EXISTING

MATCH EXISTING

MATCH EXISTING

25' AFG

25' AFG

9' AFG

MATCH EXISTING

MATCH EXISTING

14' - 6'' AFG

15' AFG

MATCH EXISTING

10' AFG

12' - 9'' AFG

MATCH EXISTING

8'' AFG

-

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Bank of America leases the ATM and Drive-Thru lanes through 4/31/2023*.

Bank of America is preforming an exterior lighting upgrade in 2018.

This improvement will increase the lighting of the exterior of the building especially near the walk up and Drive-Thru ATM’s

*Lease includes a mutual out-clause that be triggered by either party with a 180 day notice.


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surrOunding aerial

12

W LAKE MEAD PARKWAY

S WATER STREET

W ATLANTIC AVENUE

W BASIC ROAD

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W VAN WAGENEN STREET

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S M

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ENUE

GORDON MCCAW ELEMENTARY SCHOOL

DOWNTOWN RECREATION CENTER

SUBJECT PROPERTY

TAYLOR ELEMENTARY SCHOOL


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95.02

53.39

31.6

63.27

73.32

745.

49

1000.85

68.66

L=356.75

R=727

73.4

25

82

85.91

159.

84

193.59

248.89

36

36

105.3

209.45

124

8

8

30

280.02

164.96

100.27

100.5

268.79 303.69

57.79

401.52

76

100.5

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61.5

3

49.05

43

60

103.

24

101

186.21

35.02

139.5

174.569

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85.05

82

85.22

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116.

8765

6565

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3

6565

65

87.73

96.45

96.93

97.41

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88.06

88.13

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864

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4884

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86.79

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1

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1

38.8

264

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83.76

93.64

94.36

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96.07

83.0983.1

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94.11

93.52

99.92

92.33

63.7

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64

101.

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420.39

7

1.41

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R=8

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72

70.42

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70 80

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498.28

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44.67

363.17

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54

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406.41219.16

115.82

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88 117.27

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87

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03

153.

52

189.

5296

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98.94

95

95.5

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61

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85.6

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45.8

5

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140.22

54.2759.03

65

65

56

65

50.0

3

50

50

69.3

451

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64.9

9

65.0

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59

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101.

64

78.9

2

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59.01

48.83

50.83

20

130.61

72.37

20

47102.41 59

59

36.5

67.8

96.32

96.32

96.32

52.2170.88

70.2

95.85

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68.62

90

101.76

100

101.

37100

100

106.89L=351 R=265.81118.84

50

102.

59

121.

67126.82

111.

86

114.

01

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2

108.

3

106.

12

104.

17

100.

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42.0

4

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98.0

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100.53

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25

95

96.4

2

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95.0

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4

95.02

91.3

95.6

2

95.2

6

95.7

2

61

71.5

71.5

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110.45

72

72

75.47

75.43

64

64

71.86

71.86

75.56

31.2

50.25

34.859.3

42.9

9

50.2

43.18

50.2

4050

50

50

39.5

43.5

43

40.4

204.82120

120

50

68

98.67

702

28

VAC 55:439631-A

95.51

33

36.74

10

10

9

20

18

17

34

33

32

3168

68

78

3029

32-A

33-A

MF 1-14

6 7

6 5

13 14

15-A

93.64

102.

13

26

VAC 047:037595

23-A

19 80

31.9

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104.

05

22

113.

86

104.

05

68.45

18

14 15

116.3

5

69.2776.19

113.7

4

2524

27

8 86.48

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31-A

30-A

32

31

30

29

73

96.4

4

PT5

95.2

74

3

273.11

89.4

9

1

37

72.24 305117.27

113.23

62

60

61

80.51

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2

98.79

65

50

21

111.05

20

19

2

3

5 70.9

9

410PB 3-42

VAC 20091222:1847

7

2

35

25

27

3

78

11

21

28

5

12

14

5

4

9

10

12

9

PM 109-84

PM 105-15

216.7898.8

PM 117-304 23

8.23

4

2

208.45207.75

21

35

28

26

REVISEDBLK 7

008

5

VAC

55:

4396

3

107.

65 BLK 7REVISED

4

3560

011

012

015

PM 111-45PM 37-63

ATOWNSITEHENDERSON

RESUB

VAC 911114:733

VAC 571:459231

2035

PT252PT25

PT23

PT22

PT14

2

8

5295

RESUBDPTN BLKS

1 6 7AND 157

2

23

REVISEDBLK 9

9

16-32PB

9

12

13

13

16

VAC

185

6:18

1509

6

29328

1277

77

REVISED BLK 99

13

10

8

54

53

23

24

21

22

20

55

5697-001

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2

24

20

19

18

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011

PT21

22VAC 3:5676

86.46

010

17A

85.4

9

17

VAC 900802:739

1-1009

147.88

BLK 7REVISED

90.5

5

15-A

15

81.67

84.13

7

VAC 055:043963

144:114701

45.53

7

10

1

14

RESUBDIVISIONHENDERSON

TOWNSITE20

190182

VAC

99

PB 3-42HENDERSON TOWNSITE

22

19

30

20

4

2

PM117-76

020

91.76 89.29

116.77

49.01

60.14

146.

96

88.17

109.97

218.01

14

13

12

22

21

20

19

13

14

15

3

2

LEASE

33.9445.58

32.7943.29

74.58

LEASE

PT 1

1PT

L=229.99

95

10

WYOMING AVE

ATLANTIC AVE

VAC 20120228:1366

VAC 20120228:1366

PURPLE

HEART ST

001

007

003

004

008

007

002

010

019

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2427.56

111

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204

203 208232202

231201

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197195194

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041 187228 224140186227

168173 171 170 169225176 167

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182 165

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133116062104087

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102

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152150

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145146 144 143 142 141

129128

140139

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166

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153

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156157 158 159 160 161 162 163

199

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192

179

178

180

181

185184

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241240

226

026

207

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144

143

142

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042

051

002

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044

045

046

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067

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117

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120

112

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036029

035030

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027

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136

137

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112

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0100.14

NO

TES

This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

MA

P LE

GE

ND

USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 1/29/2015

T22S R63E 18 N 2 SE 4 179-18-7

31

30

19

1

1314

121110987

6 5 4 3 2

3635343332

29 28 27 26

24

25

23222120

18 17 16 15

BO

OK

SEC

.

MA

P

2

3

4

5

6

7

8

1

2

3

4

51

8

7

5

6

4 8

503

PARCEL BOUNDARYSUB BOUNDARY

ROAD EASEMENTPM/LD BOUNDARY

HISTORIC LOT LINEMATCH / LEADER LINE

ROAD PARCEL NUMBERPARCEL NUMERACREAGE

PARCEL SUB/SEQ NUMBER

PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER

10010011.00

202PB 24-45

55

GL5

HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY

15

8 4

Rev:

TAX DIST

0 200 400 600 800100 SECTION LINE

CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL

190

161162

180179177 178

191

158160159

181

186188189

Michele W. Shafe - Assessor

assessOr Parcel MaP

E5

PT 179-18-810-001

PT 179-18-710-242

603

312

712

711

710

701

703

604

701BASIC RD

NEBRASKA AVE

ARKANSAS AVE

NEBRASKA AVE

IDAHO WY

WYOMING AVE

ATLA

NTI

C A

VE

PAC

IFIC

AVE

PANAMA ST

PLAT

INU

M S

T

GO

LD S

T

TEXAS AVE

OKLAHOMA DR

BOULDER HWY

NEBRASKA AVE

ARKANSAS AVE

BASIC RD

MAR

INE

ST

ZIN

C S

T

LEAD

ST

NIC

KEL

ST

ZIN

C S

T

DEVELIN DR

ARKANSAS AVE

KANSAS AVE

DEVELIN DR

015

016

VAC 627607

VAC

144

:114

701

VAC 3:5676

VAC 3:5676

VAC 543:502181

VAC 251:203892

VAC 243767

-8C

VAC 55:43963

VAC 047:037595

VAC 2217:2176266

BOULDER HWY

WATER ST

PACIFIC AVE

PANAMA ST

WATER STNAVY ST

ARMY ST

MARKET ST

ARMY ST

PB 16-32

PB 17-87

PB16-32

PB 17-80

24-A

25-A

1

4

22

23

24

25

16

17

15

22-A

67

59

1

61-A

8

76

77

782

3

5

6

8

27

15

26

2

4-A

69

70

12

1

9

57

58

20

24

18A19A

22A

10-1

4

5

6

7

11

25

16

12

4

26

27

28

303

4

5

6

7

8

5

6

7

8

9

10

11

12

14

16 17

16-A 17-A 17-B

2

1

19-A

12 3 4

78910

18

19

20

21

1012

18-A18-B

19-B

20-A

21-A

11-A 12-A13-A

14-A

20

20-A

21-A

15

2

34

5

242528

712 13

3-A

4-A5-A 7-A

22-A23-A26-A28-A

31

32

33

34

35

36

1

2

3

4

56

26

28

29-A

28-A

1-A

2-A

3-A

4-A

5-A

20

6

7

17

18

19

17

18

20

21

22

1

3

4

19

18

5

24

16

1213

15

12

34

5

6

8

3

4

1

3

4

5

1

2

4

20

6

91

75

85

4

7

11

12

13

14

16 2324

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16A

31

32

34

35

13

4

1

71

72

73

74

9

10

11

13

23

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11

14

15

16

1

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6

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14

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18

19

2620

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11

23

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11

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6-A

13

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8 9 118-A 9-A 10-A

14

1

232627

9 10 11

16

17

18

1-A2-A

6-A

24-A25-A27-A29-A30-A

31-A

34-A

19212223

5

17

16

4

1

3

A

14

7

19

5

B

18

17

16

7

3

5

6

14

15

17

18

19

5

20

2

12PT13

PT13

PT21

PT1415

PT23

27

9-1

PT5

33

32

31

34

PT30

30

29

28

86

PT

100.04 159.2

5

344.

47

50

60

76.11

90

75

65

90.78

76.5

65.75

65.75

76.5

90.78

84.13

76.84

50.66

20

71.18

43.19

60

75.6

75.58

117.83

78.66

75.6

75.59

50

20

20

50

60

30

61

142

142

113.66

80.14

117.27

79.11

96.15

111.05

80

80

93.45

54.6245.03

67.42

80

80111.05

57.21

81

81

80.93

55.09

91.3483.11

117.27

117.27

99.79

82

82

79.83

77.6

3

134.

37116

82

82

400

117.27

50

98.0

5

67.5

50

83.5

52.15

109.04 93.57

30

20

40

95.9

3

38.23

57

57

57

57

68.15

70

94.76

110.96

114.

5

95.9

3

64

64

92.96

44.16

60

60

60

60

60

60

60

60

96.55

70 68

95.9393

96.55

96.55

5020

59

57

59

69

96.55

59

69

59

57

59

61.5

93

44.14

61.5

61.5

44.07

61.5

61.5

61.5

61.5

71

57.7

96.32

99.99

70

61.5

61.5

61.5

102.41

60

71 95.87

70100 109.84

155.35

129.12

312.96

209.01

R=3

77.8

3

68.7460

80.93

60

2080

105.

28

98.0

5

60

60

60

56

56

90.28

102.02

62

56

56

60

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60

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33

130

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46

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9

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65

121.36121.37

61

61

61

43

43

76.1

50

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4

62

62.5

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61.5

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141

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60.4

860

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9

80.5

6

78.6

5

4561

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61.4

7

83.8

1

43.1

763

81.0

663

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81.61

89.8

91.09

92.38

93.67

87.5

87.87

96.64

97.95

99.27

81.64

90.58

91.85

93.12

94.4

87.47

87.87

97.48

98.71

100.04

85.9

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95.71

6165

65

75

90.5

90.3

95.18

64

109.

7

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102.46102.11

95.15

70.1

364

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47.8

9

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46

63.1

7

72.8

6

96.55

93

50

101.

64

98.47

98.48

100.3

100.

31

67.7

67.7

57.7

93

61.5

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96.5561

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101.

64

98.48

54

54

64

78.46

20

40.78

61

76.21

93

50.28

68.69

61.5

61.5

2073

48.82

83.84

95.51

95.51

92

72.97

62

62

72

54.8

98.02

101.74

101.74

98

45.64

80

63.4

7

63

63

80

96.51

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98

60

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101.74

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170.52

65

65

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63

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66

93.43

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5

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92

70.48

70

79.57 94.21

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100.54

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86.81

6020

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158.79

50

81.67

81.67

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23

115.38

88.04

65.3552.97133.65

99.6

7125.

08

55.63

145.45

20

2084.96 72.39 74.56 76.56 78.44

95.23

105.

19

100.

27

101.

86

108.

3799.8

9

73.42 76 76 76 7681.01

756565

7677.19 66.52 76.45 66.01 65.83

76.71

77.61 69.03

69.97105.16

67.09

6372

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20 117.8370.31

48.9

66.9

20

95

86

76

76 70 70

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86

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71

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1

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15100.

31

95.5

8

95.3

3

88.52

75.94

84.8872.28

81.11 72.35

67.23

84.68

75.93

82

77

113.1

7

50

60

60

20

20

85.73

93.84

687867.0680.51

68.94

68.29

78.02

68.15

95

68

78

78 46.79 78 68 82

118.1

7

115.

96

106.

85100.

5997.2

2

95.4

1

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7

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1

77 77

74.5879.16

117.7

7

115.1

1

108.

56103.

07

50

50

96

67.06

62.26

20

R=482.5

L=438.61

40

75 91.73

110

67.2868.253

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66

74.5941.88

65.53

72.64

77

76.87

70.03

117.83

45

96

77

77

117.83

68

73.61

6047.26

63.7

543

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98.5

71.5

77

77

88

77

88

86.65

76.46

87.86

76.99

76.84

61

98.7

3

71.5

70

80

80

70

84

73

63.2

4

74.54

85.08

70.31

80.06

80.04

70.29

97.4

9

101.

2

72

80.7

84.66

72.87

84.6588.54

86.48

95.0

4

44.93

71.5

61

61

61

71.5

101.

64

50

20

20

76.79

76.93

87.86

76.46

95.25

95.02

98.0

5

44

64

106.

1

73.71 73 83

81.2675737373

107.

59

110.

78

110.

78

110.

78

102.

88

92.66

77

88

7781

81

80

90

80

63.2

5

92.06

88

102 113.67

117.27

117.27 77

77

88

83.07

20

81

90

81111.05

111.05

81

90

81

90111.05

90

35.3

9

83.3

3

82.4

7

117.2782

68

98.33

97.39

81.7

1

96.51

95.79 73.5

73.5

63.5

95.02

53.39

31.6

63.27

73.32

745.

49

1000.85

68.66

L=356.75

R=727

73.4

25

82

85.91

159.

84

193.59

248.89

36

36

105.3

209.45

124

8

8

30

280.02

164.96

100.27

100.5

268.79 303.69

57.79

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This map is for assessment use only and does NOT represent a survey.

No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

MA

P LE

GE

ND

USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 1/29/2015

T22S R63E 18 N 2 SE 4 179-18-7

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Michele W. Shafe - Assessor

Pacific A

venue

Water Street


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The Opportunity Zones program offers three tax benefits for investing in low-income communities through a qualified Opportunity Fund:

1. A temporary deferral of inclusion in taxable income for capital gains reinvested in an Opportunity Fund. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is disposed of or December 31, 2026.

2. A step-up in basis for capital gains reinvested in an Opportunity Fund. The basis is increased by 10% if the investment in the Opportunity Fund is held by the taxpayer for at least 5 years and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.

3. A permanent exclusion from taxable income of capital gains from the sale orexchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. This exclusion only applies to gains accrued after an investment in an Opportunity Fund.

Once certified by the Secretary of Treasury, an Opportunity Zone designation lasts until December 31, 2026.

Satellite

Henderson Opportunity ZoneOPPOrtunity ZOne - hendersOn MaP


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Class A Market Statistics First Quarter 2018

YTD Net YTD Under QuotedMarket # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF RatesCentral East Las Vegas 7 1,315,158 295,598 295,598 22.5% (51,773) 0 0 $30.11Central North Las Vegas 2 273,958 12,620 12,620 4.6% 300 0 0 $27.00Downtown Las Vegas 10 1,791,889 210,109 212,434 11.9% 39,305 0 0 $31.61North Las Vegas 0 0 0 0 0.0% 0 0 0 $0.00Northwest Las Vegas 19 2,076,169 450,033 450,033 21.7% 34,932 0 0 $24.47Outlying NE Clark County 0 0 0 0 0.0% 0 0 0 $0.00Outlying S Clark County 0 0 0 0 0.0% 0 0 0 $0.00SE Las Vegas/Henderson 3 296,443 146,140 146,140 49.3% 0 0 0 $25.65South Las Vegas 24 1,788,936 111,064 130,894 7.3% 10,579 0 0 $27.05Southwest Las Vegas 28 3,453,601 81,644 123,578 3.6% 313,292 152,000 75,000 $22.81West Las Vegas 7 683,816 110,099 110,099 16.1% (6,989) 0 144,574 $37.43Totals 100 11,679,970 1,417,307 1,481,396 12.7% 339,646 152,000 219,574 $27.91Source: CoStar Property®

Class B Market Statistics First Quarter 2018

YTD Net YTD Under QuotedMarket # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF RatesCentral East Las Vegas 178 5,191,505 1,002,398 1,020,944 19.7% 94,054 0 61,146 $18.37Central North Las Vegas 49 1,422,806 93,299 93,299 6.6% (2,946) 0 0 $20.84Downtown Las Vegas 65 2,634,847 112,243 114,596 4.3% 12,255 0 0 $23.01North Las Vegas 151 2,050,007 260,114 260,114 12.7% 18,422 0 0 $14.26Northwest Las Vegas 358 7,310,299 1,023,329 1,031,888 14.1% (175,304) 0 0 $17.46Outlying NE Clark County 32 261,028 64,209 64,209 24.6% (3,000) 0 0 $11.33Outlying S Clark County 4 44,287 0 0 0.0% 0 0 0 $0.00SE Las Vegas/Henderson 83 1,190,510 197,922 197,922 16.6% 9,848 0 44,000 $14.16South Las Vegas 532 9,777,261 1,281,961 1,297,746 13.3% (33,822) 60,000 9,946 $17.79Southwest Las Vegas 508 8,033,872 917,120 930,802 11.6% 135,409 54,506 62,646 $19.77West Las Vegas 398 6,429,495 690,139 881,313 13.7% 83,618 0 6,665 $14.92Totals 2,358 44,345,917 5,642,734 5,892,833 13.3% 138,534 114,506 184,403 $17.80Source: CoStar Property®

Class C Market Statistics First Quarter 2018

YTD Net YTD Under QuotedMarket # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF RatesCentral East Las Vegas 473 2,782,557 354,155 354,155 12.7% (48,283) 0 0 $11.31Central North Las Vegas 90 658,242 34,749 34,749 5.3% 3,943 0 0 $15.84Downtown Las Vegas 251 925,092 103,001 103,001 11.1% 5,148 0 0 $17.26North Las Vegas 59 446,718 67,855 67,855 15.2% (19,234) 0 0 $15.02Northwest Las Vegas 177 924,421 24,441 25,441 2.8% (9,707) 0 0 $14.04Outlying NE Clark County 19 79,135 6,853 6,853 8.7% 0 0 0 $11.64Outlying S Clark County 20 112,158 0 0 0.0% 0 0 0 $13.80SE Las Vegas/Henderson 72 495,307 32,814 32,814 6.6% 18,294 0 0 $10.89South Las Vegas 208 1,139,817 36,157 36,157 3.2% 33,008 0 0 $12.61Southwest Las Vegas 52 360,197 11,426 11,426 3.2% 4,238 0 0 $21.19West Las Vegas 145 811,386 52,899 52,899 6.5% 8,851 0 0 $12.10Totals 1,566 8,735,030 724,350 725,350 8.3% (3,742) 0 0 $12.77Source: CoStar Property®

Total Office Market Statistics First Quarter 2018

YTD Net YTD Under QuotedMarket # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF RatesCentral East Las Vegas 658 9,289,220 1,652,151 1,670,697 18.0% (6,002) 0 61,146 $20.02Central North Las Vegas 141 2,355,006 140,668 140,668 6.0% 1,297 0 0 $20.80Downtown Las Vegas 326 5,351,828 425,353 430,031 8.0% 56,708 0 0 $26.24North Las Vegas 210 2,496,725 327,969 327,969 13.1% (812) 0 0 $14.29Northwest Las Vegas 554 10,310,889 1,497,803 1,507,362 14.6% (150,079) 0 0 $19.24Outlying NE Clark County 51 340,163 71,062 71,062 20.9% (3,000) 0 0 $11.46Outlying S Clark County 24 156,445 0 0 0.0% 0 0 0 $13.80SE Las Vegas/Henderson 158 1,982,260 376,876 376,876 19.0% 28,142 0 44,000 $18.18South Las Vegas 764 12,706,014 1,429,182 1,464,797 11.5% 9,765 60,000 9,946 $18.57Southwest Las Vegas 588 11,847,670 1,010,190 1,065,806 9.0% 452,939 206,506 137,646 $20.24West Las Vegas 550 7,924,697 853,137 1,044,311 13.2% 85,480 0 151,239 $18.70Totals 4,024 64,760,917 7,784,391 8,099,579 12.5% 474,438 266,506 403,977 $19.56Source: CoStar Property®

Existing Inventory Vacancy




22 CoStar Office Statistics ©2018 CoStar Group, Inc.

Las Vegas – First Quarter 2018

Las Vegas Office MarketMarket Highlights – Class “A, B & C”

©2018 CoStar Group, Inc. CoStar Office Statistics 23

First Quarter 2018 – Las Vegas

Las Vegas Office MarketMarket Highlights – Class “A, B & C”

S E L a s V e g a s / H e n d e r s o n M a r k e t

Deliveries, Absorption & Vacancy Historical Analysis, All Classes

Source: CoStar Property®

Vacant Space Quoted Rental RatesHistorical Analysis, All Classes Historical Analysis, All Classes

Source: CoStar Property® Source: CoStar Property®

Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates

2018 1q 158 1,982,260 376,876 19.0% 28,142 0 0 1 44,000 $18.18

2017 4q 158 1,982,260 405,018 20.4% 28,803 0 0 1 44,000 $15.43

2017 3q 158 1,982,260 433,821 21.9% (810) 0 0 0 0 $18.17

2017 2q 158 1,982,260 433,011 21.8% 3,566 2 89,300 0 0 $18.25

2017 1q 156 1,892,960 347,277 18.3% (10,610) 1 6,500 2 89,300 $19.25

2016 4q 155 1,886,460 330,167 17.5% 15,407 0 0 2 85,300 $15.44

2016 3q 155 1,886,460 345,574 18.3% 1,283 0 0 2 85,300 $18.58

2016 2q 155 1,886,460 346,857 18.4% (1,196) 0 0 2 85,300 $18.03

2016 1q 155 1,886,460 345,661 18.3% 16,867 0 0 1 6,500 $18.95

2015 4q 155 1,886,460 362,528 19.2% 17,726 0 0 1 6,500 $14.14

2015 3q 155 1,886,460 380,254 20.2% 36,370 0 0 0 0 $18.16

2015 2q 155 1,886,460 416,624 22.1% 10,505 0 0 0 0 $17.95

2015 1q 155 1,886,460 427,129 22.6% 9,438 0 0 0 0 $19.14

2014 4q 155 1,886,460 436,567 23.1% (38,967) 1 10,000 0 0 $14.15

2014 3q 154 1,876,460 387,600 20.7% 6,921 0 0 1 10,000 $18.95

2014 2q 154 1,876,460 394,521 21.0% 55,749 0 0 1 10,000 $18.99

Source: CoStar Property®

UC InventoryDelivered InventoryExisting Inventory Vacancy

(0.020)

0.000

0.020

0.040

0.060

0.080

0.100

2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q 2017 4q 2018 1q

Millions

SF

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Perce

nt V

aca

nt

Delivered SF Absorption SF Vacancy

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

2017 1q 2017 3q 2018 1q

Dollars

/SF/Y

ear

0.00

0.05

0.10

0.15

0.20

0.25

0.30

0.35

0.40

0.45

0.50

2017 1q 2017 3q 2018 1q

Millions

SF

Direct SF Sublet SF


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KEY FACTS

81,605Population

38.22.8

AverageHousehold Size

$55,526Median Household

Income

INCOME


Income

$25,684Per Capita Income

$80,751Median Net Worth

81,60538.2

Median Age

29,352Households

$48,196Median Disposable Income

6,0004,0002,0000

HOUSEHOLD INCOME

200000+

150000-199999

100000-149999

75000-99999

50000-74999

35000-49999

25000-34999

15000-24999

0-14999

EDUCATION

10%

No HighSchool

Diploma 34%High School

Graduate

38%Some College 19%

Bachelor's/Grad/ProfDegree

EMPLOYMENT

60%White Collar

20%Blue Collar

21%Services

6.7%

UnemploymentRate


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KEY FACTS

172,012Population

37.42.7

AverageHousehold Size


Income

INCOME


Income

$28,071Per Capita Income

$79,237Median Net Worth

172,01237.4

Median Age

62,553Households

$50,805Median Disposable Income

12,0008,0004,0000

HOUSEHOLD INCOME

200000+

150000-199999

100000-149999

75000-99999

50000-74999

35000-49999

25000-34999

15000-24999

0-14999

EDUCATION

8%

No HighSchool

Diploma 29%High School

Graduate

37%Some College 26%

Bachelor's/Grad/ProfDegree

EMPLOYMENT

62%White Collar

17%Blue Collar

21%Services

5.7%

UnemploymentRate

19

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The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice.

107-111 South Water Street - "AS IS" Rent Roll

Address Tenant RSF % of Total Start End Increases CAM's$/SF/

MonthMonthly

NNN Rent Annualized

107-111 S Water Street, 1st Floor Vacant 7,548 53.91% - - - - - $0.00 $0.00107-111 S Water Street, 2nd Floor Vacant 6,452 46.09% - - - - - $0.00 $0.00ATM Leases - 4 Drive-Thru's / 1 Walk Up (3) Bank of America - - 5/31/2013 4/31/2023 10% every 5 years 450$ - $2,695.00 $32,340.00

Occupied 0 0.0% - $2,695.00 $32,340.00Vacant 14,000 100.0%Total 14,000 100.0% $32,340.00

$5,400.00$37,740.00$13,650.00$24,090.00

Notes:(1) Operating expenses include: Insurance - $4,500/Annually; Property Tax -$8,150/ Annually; Water - $1,000/ Annually(2) Power is paid directly by Bank of America.(3) Mutual cancellation clause can be triggered anytime with a 180 day written notice, Tenant also has three (5) years options with 10% increases at the beginning of each period with a 30 day notice prior to expiration of the term

Less: Operating Expenses (1)(2):Net Operating Income:

Current Base Rent

Rental Income:Plus: Expense Reimbursement:

Gross Potential Income:

20

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The information contained herein was obtained from sources believed reliable, however, Sun Commercial Real Estate, Inc. any of its agents or employees make no guaranty, warranty or representation as to the completeness and/or accuracy thereof, inclusive of any current and future projected returns. Anyone utilizing this analysis does so at their own risk and agrees to hold Sun Commercial Real Estate, Inc., its agents and employees harmless. The presentation of this property is subject to error, omissions change of price or conditions prior to sale, or withdrawal without notice.

107-111 South Water Street - Proforma Rent Roll

Address Tenant RSF % of Total Start End Increases CAM's$/SF/

MonthMonthly

NNN Rent Annualized

107-111 S Water Street, 1st Floor Vacant 7,548 53.91% TBD TBD TBD 2,641.80$ $1.05 $7,925.40 $95,104.80107-111 S Water Street, 2nd Floor Vacant 6,452 46.09% TBD TBD TBD 2,258.20$ $1.05 $6,774.60 $81,295.20ATM Leases - 4 Drive-Thru's / 1 Walk Up (2) Bank of America - - 5/31/2013 4/31/2023 10% every 5 years 450.00$ - $2,695.00 $32,340.00

Occupied 0 0.0% 5,350.00$ $1.05 $17,395.00 $208,740.00Vacant 14,000 100.0%Total 14,000 100.0% $208,740.00

$64,200.00$272,940.00

$40,941.00$58,800.00

$173,199.00

CAP Rate Price Price PSF7.50% $2,309,320 $2,309,320.00

(1) Operating expenses have been estimated at $0.35 per square foot per month when the property is leased. 7.75% $2,234,826 $2,234,825.818.00% $2,164,988 $2,164,987.508.25% $2,099,382 $2,099,381.828.50% $2,037,635 $2,037,635.29

Less: Vacancy Adjustment 15%Less: Operating Expenses (1):

Proforma Net Operating Income:

(2) Mutual cancellation clause can be triggered anytime with a 180 day written notice, Tenant also has three (5) years options with 10% increases at the beginning of each period with a 30 day notice prior to expiration of the term

Current Base Rent

Proforma Rental Income:Plus: Expense Reimbursement:

Proforma Gross Potential Income:

Notes:


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$13.6 Billion in New Capital Investment is Driving Growth

1. Resorts World Las Vegas - $4.0 Billion 2. Las Vegas Stadium - $1.9 Billion

• $4 billion Strip resort project with a heavy Asian theme began construction in 2017. • Resorts World, developed by the Genting Group, is being built at the former site of the Stardust and Echelon. • Genting, which bought the site from Boyd in 2013 for $350 million, will be using the partially constructed Echelon structures for this property. • With a projected opening set for 2020, the initial phase will have 3,100 rooms, a 100,000-square-foot casino, shops and restaurants spread across its 88-acre site.

• The Oakland Raiders will move to Las Vegas for the 2020 NFL season. • The groundbreaking ceremony took place in November 2017 for a new $1.9 billion stadium just west of the Strip. • The venue’s horse-shoe shape, designed by Manica Architecture, would accommodate 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use commercial facilities. • The design shows a retractable natural turf field. • This venue would also allow Las Vegas to host the annual Super Bowl.

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3. Wynn Paradise Park - $1.5 Billion

5. Union Village - $1.2 Billion

4. Convention Center Expansion - $1.4 Billion

6. Switch - $1 Billion

• Wynn Resorts Ltd. is building its third hotel behind its two Las Vegas casinos, an ambitious Carnivale themed project called Wynn Paradise. • The $1.5 billion resort will take the place of the golf course and feature 1,500 rooms around a 38-acre lagoon, a small casino, restaurants and nightclubs. • The lake will have a white sandy beach, a boardwalk, water skiing, paddle boating, zip lines/gondola, and nightly fireworks.• Heavy duty construction should begin by spring 2018 with a 2020 debut.

• Union Village will be the first Integrated Health Village in the world, and is listed as the largest healthcare building project in the United States. • The $1.2 billion dollar, 155-acre planned development not only covers healthcare, but retail, entertainment, and senior living as well. • Approximately 355,000 square feet have been completed, totaling $300 million in work, with another 476,000 square feet to be under construction soon.

• Las Vegas Convention Center will be renovated and expanded into a $1.4 billion Las Vegas Global Business District. • Planned in four phases, new facilities will replace the 26-acre Riviera Hotel site, adding ±1.4 million square-feet of exhibit and meeting space. • Phase Two of the project is projected to be completed in 2020.• Expected to draw an additional 600,000 visitors a year, drive $2.1 billion in economic activity during construction and have an annual economic impact of $810 million when finished.

• Switch is a globally recognized leader in future-proof data center design, superscale cloud, unparalleled telecom gateways and energy sustainability. • Its Southern Nevada expansion includes a $1 billion data storage site on 200 acres near its two existing data storage facilities at South Jones Boulevard and the 215 Beltway. • Idea to link 50 million people within 14 milliseconds of data hosted at each of the company’s data hubs via a superloop of fiber optic cable connecting its Reno and Las Vegas supernaps sites, with a planned facilities in LA and SF.


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7. Project Neon - $1 Billion

9. Palms Renovation - $485 Million

8. Extreme Sports Park - $800 Million

10. Park MGM (Former Monte Carlo) - $450 Million

• Project Neon is the largest public works project in Nevada history. • $1 billion effort to redesign and widen Interstate 15 from the U.S. Highway 95 interchange to Sahara Avenue by July 2019. • Currently this road is the busiest stretch of highway in Nevada with 300,000 vehicles daily. Traffic through the corridor is expected to double by 2035.

• Station Casinos will enhance nearly every feature of the resort by investing $485 million in improvements. • Plans include redesigned/renovated hotel rooms, 60 new hotel rooms, 29,000 square foot nightclub, new 73,000 square foot pool club, several celebrity chef restaurants, new spa, meeting/convention space, new covered parking spaces, refresh of the Pearl Theater, renovated casino floor, and a new front desk registration area to name a few. • First phase underway and the second phase is expected to be completed by early 2019.

• Josh Kearney’s $800M extreme sports park called The Edge received county approval in 2017. • 130-acre at the SEC of Las Vegas Boulevard and Sunset Road, adjacent to Town Square Las Vegas, a 1.2M SF class A open air shopping, dining, office and entertainment center.• The Park is expected to have surfing/wake boarding/rock climbing/mountain biking/indoor skydiving/bungee jumping/zip lines and a 15-story, 640 room hotel with a casino, convention space, restaurants and two rooftop pools. • Project will take approximately 2.5 years to complete.

• A transformation occurring in Las Vegas is the conversion of the Monte Carlo into two hotels: a 2,700-room luxury resort Park MGM and a 292-room hotel NoMad Las Vegas. • This $450 million makeover is projected to be completed by the end of 2018. • The new resort will feature two hotels, redesigned rooms, an Italian market Eataly with cafes, walk-up counters and dine-in restaurants. • The properties will have amenities such as dining and casinos as well as a 5,300-seat theater at the Park MGM.

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Roy FritzSenior Vice President

[email protected]

Jessica CegavskeVice President702-968-7321

[email protected]

Paul MiachikaExecutive Vice President

[email protected]

Taylor VasquezAssociate

[email protected]

SunCommercial Real Estate, Inc.

Documents

2 Story | Four Teller Drive-Thru Lanes | ±14,000 SF...Cathy Jones, CPA, SIOR, CCIM CEO 702-968-7320 [email protected] Roy Fritz Senior Vice President 702-968-7322 [email protected]