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PRICE REDUCED
TO $135 PSF
Single Story Office Building | Offering Memorandum1901-1903 S. Jones Boulevard, Las Vegas, NV 89146
Save Your Money - Own Your Office Building
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 2
CONFIDENTIALITY & DISCLOSURE
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.
Linda [email protected] Lic # BS.0049667.LLC
Cathy Jones, CPA, SIOR, [email protected] Lic # B.0056010.CORP
Michael K. [email protected] Lic # S.0051609.LLC
Paul [email protected] Lic # S.0184612
ContaCt team
TABLE OF CONTENTS
Offering HighlightsProperty PhotosFloor PlanAssessor Parcel MapSurrounding AerialLas Vegas Valley Location Map
Opportunity ZoneArea Demographics
Market Information
SBA 504 Loan Program Analysis
Section 2
Section 3
Property Overview Section 1
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 4
Asking Price:
Zoning:
Total Building Area:
Site Size:
$1,898,775 ($135.00 PSF)
±14,065 SF
±1.12 Acres
Professional Offices and Parking (P-R)
On S. Jones Blvd., S. of W. Oakey Blvd. ± 34,662 CPDOn W. Oakey Blvd., W. of S. Jones Blvd. ± 15,358 CPD
Construction Date:
APN:
Traffic Counts:
1993
163-02-721-007
SUMMARY
OFFERING HIGHLIGHTS
OFFERING
Sun Commercial Real Estate, Inc. is pleased to offer for sale 1901-1903 S. Jones Boulevard, an owner user office building located in the West Central office submarket. The property is located near freeway access, residential developments, numerous shopping, restaurants and business service amenities and public transportation within walking distance.
HIGHLIGHTS
• Competitively Priced at $135 PSF
• Low ownership occupancy cost compared to leasing
• Fixed Monthly Payments not subject to escalations
• Property offers prominent building and pylon signage
• Ample parking - 4.79/1,000
• Located near many dining , shopping and business service amenities
• Public transportation within walking distance
ONE OF A KIND OFFER TO RENT TO OWN
RENT TO OWN OFFER TERMS: Seller will provide to qualified tenants an opportunity to rent to purchase the building. Under this scenario, the terms are as follows:
• Tenant shall make an initial deposit of $100,000. This deposit will be applicable to the future agreed-upon purchase price.
• 100% of the monthly Net base rent shall be applied towards the purchase price.
• The Tenant shall have ample time to elect to complete the purchase of the building.
• Seller will provide the buyer with a new 30 year fully-amortizing loan at a market rate.
• The Tenant will be 100% responsible for all building expenses.
PROPERTY DESCRIPTION
The subject property is a single-story office building built in 1993 consisting of approximately 14,065 SF. The functionally designed interior floor plan provides minimal tenant improvements for the new owner. The building offers abundant parking at nearly 5 per 1,000 ratio which is desirable for numerous professional and medical businesses. The property’s prominent pylon sign also provides tremendous exposure to both north and southbound traffic along Jones Boulevard. The property also is located in an Opportunity Zone potentially providing tax saving advantages.
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 5
PROPERTY PHOTOS
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 6
FLOOR PLAN
EntranceCourtyard
S. Jon
es Bo
ule
vard
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 7
ASSESSOR PARCEL MAP
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See Condo List Page
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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
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ND
USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL
ASSESSOR'S PARCELS - CLARK COUNTY, NV.
Scale: 1" = 200' 1/8/2019
T21S R60E 2 N 2 SE 4 163-02-7
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123Briana Johnson - Assessor
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See Condo List Page
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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.
MAP
LEG
END
USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL
ASSESSOR'S PARCELS - CLARK COUNTY, NV.
Scale: 1" = 200' 1/8/2019
T21S R60E 2 N 2 SE 4 163-02-7
31
30
19
1
1314
121110987
6 5 4 3 2
3635343332
29 28 27 26
24
25
23222120
18 17 16 15
BOO
K
SEC.
MAP
2
3
4
5
6
7
8
1
2
3
4
51
8
7
5
6
4 8
200
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
138 139
163 162164
137
177176175
124125126
161
140
178
123Briana Johnson - Assessor
q
W. Oakey Blvd.
S. Jone
s Blvd.
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 8
SURROUNDING AERIAL
W. SAHARA AVE. | ±45,500 CPD
S. T
ORR
EY P
INES
DR.
c
S. JON
ES BLVD
. | ±34,662 CPD
W. OAKEY BLVD. | ±15,358 CPD
W. CHARLESTON BLVD. | ±34,500 CPD
VERDIN
AL D
R.
Bonanza High School
College of Southern Nevada
Fountains Shopping
Center
SUBJECT PROPERTY
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 9
LAS VEGAS VALLEY LOCATION MAP
SUBJECT PROPERTY
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 10
OPPORTUNITY ZONE
WHAT IS THE OPPORTUNITY ZONE
The Opportunity Zones program offers 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. This program applies to any capital gain from the sale or exchange of any property to an unrelated person.
3. There is 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.
4. The Program offers a permanent exclusion from taxable income of appreciation above an investor’s original investment from the sale or exchange 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.
5
1901-1903 S. Jones Blvd.APN 163-02-721-007±14,065 SF Office Building
http://www.diversifynevada.com/programs/opportunity-zones/
It is very important to consult with your tax attorney or CPA to learn more about Opportunity Funds and their benefits.
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 11
AREA DEMOGRAPHICS (3 MILE RADIUS)
6/21/2019 Business Analyst
https://bao.arcgis.com/esriBAO/index.html# 2/3
KEY FACTS
198,021Population
37.72018 Median Age (Esri)
2.69Average Household Size
$59,950Average Household Income
EDUCATION
19%
No HighSchool
Diploma 34%High School
Graduate
31%Some College 17%
Bachelor's/Grad/ProfDegree
BUSINESS
9,832Total Businesses
95,628Total Employees
EMPLOYMENT
48%White Collar
19%Blue Collar
33%Services
8.1%
UnemploymentRate
INCOME
$43,797
Median HouseholdIncome
$22,820
Per Capita Income
$30,130
Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (19.0%)
The smallest group: $150,000 - $199,999 (2.5%)
Indicator Value Difference<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
12.0%
$75,000 - $99,999
12.9%
$100,000 - $149,999
13.7%
$150,000 - $199,999
17.1%
$200,000+
19.0%
+2.1%
10.8%
+3.4%
9.3%
+2.9%
2.5%
+3.0%
2.7%
-0.2%
-2.5%
-4.8%
-2.1%
-1.9%
Bars show deviation from
Clark County
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 12
AREA DEMOGRAPHICS (5 MILE RADIUS)
6/21/2019 Business Analyst
https://bao.arcgis.com/esriBAO/index.html# 3/3
KEY FACTS
468,020Population
38.32018 Median Age (Esri)
2.57Average Household Size
$64,740Average Household Income
EDUCATION
17%
No HighSchool
Diploma 32%High School
Graduate
31%Some College 20%
Bachelor's/Grad/ProfDegree
BUSINESS
26,267Total Businesses
415,648Total Employees
EMPLOYMENT
50%White Collar
17%Blue Collar
33%Services
7.1%
UnemploymentRate
INCOME
$46,024
Median HouseholdIncome
$25,397
Per Capita Income
$32,449
Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (18.5%)
The smallest group: $150,000 - $199,999 (3.0%)
Indicator Value Difference<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
12.5%
$75,000 - $99,999
12.0%
$100,000 - $149,999
13.0%
$150,000 - $199,999
15.8%
$200,000+
18.5%
+2.6%
11.2%
+2.5%
10.3%
+2.2%
3.0%
+1.7%
3.8%
-0.7%
-2.1%
-3.8%
-1.6%
-0.8%
Bars show deviation from
Clark County
ContaCt team
1901-1903 S. Jones Boulevard - Offering Memorandum | 13
SBA 504 LOAN PROGRAM ANALYSIS
SBA504LoanProgramAnalysis
Subject Property: Square Feet: 14,065
Listing Price Plus T/I's: 2,198,775$ 100.0%Financial Institution 1st Loan 1,099,388$ 50.0%SBA 504 2nd Loan 879,510$ 40.0%Buyer's Down Payment 219,878$ 10%
Financial Institution (Negotiable)1st Deed of Trust 1,099,388$ Interest Rate 4.50%Monthly Payment $6,111
SBA 504 Loan Fees:CDC Process Fee 13,193$ 1.50% SBA 504 Loan Fixed for 25 years:Funding Fee (3rd party) 2,199$ 0.25% 2nd SBA Loan 906,000$ Underwriter Fee (3rd party) 3,518$ 0.40% Interest Rate (03/2020) 2.880%SBA Guaranty Fee (3rd party) 4,398$ 0.50% Monthly Payment $4,240Flat Fee for SBA closing attorney 2,500$ Round Up (Rebated back) 683$ Total SBA Loan Amount: 906,000$ Total Payments: $10,351
Note: Buyer must have a net worth less than $15MM and Monthly Payment per SQ FT: 0.74$ an average net income less than $5MM after taxes in last Price per SQ FT 156.33$ two years
Average Blended Interest Rate 3.77%NSDC-aSBAPremierCertifiedLenderA Non-Profit OrganizationOver 35 years of helping NV business owners
Your SBA Loan ExpertPaola Gonzalez702.349.9227
[email protected] Español
This form provides purely ESTIMATED costs. Final rates will not be locked in until SBA debenture funds. The above is our best estimate with the information currently available. Bank rate and terms are estimated and vary depending on lender.
This is not a commitment to lend.
NevadaStateDevelopmentCorporation- aSBAPremierCertifiedLender
1901-1903 S. Jones Blvd.
Property Information
Linda Gonzales [email protected]
702.501.3007 Michael Hsu
[email protected] 702.768.6459
Linda [email protected] Lic # BS.0049667.LLC
Cathy Jones, CPA, SIOR, [email protected] Lic # B.0056010.CORP
Michael K. [email protected] Lic # S.0051609.LLC
Paul [email protected] Lic # S.0184612
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.
6140 Brent Thurman Way, Suite 140Las Vegas, NV 89148
Main 702-968-7300Fax 702-968-7301
www.suncommercialre.comExclusively listed by Sun Commercial Real Estate, Inc.
