OWNER USER / SBA FINANCING: Office Building For Sale Investment Lake Sahara Plaza at 8685 West Sahara Avenue is an 11,858 +/ SF Office building located in the prestigious Lakes subdivision on the edge of Summerlin. Property is situated across the street from Canyon Gate Country Club. Easy access to the 215 and Summerlin Parkway. Traffic counts via Sahara Avenue are 28,500 cars per day. Gross Asking Rents Per SF Current Building: $10.20 SF/YR Submarket 13 Star: $14.74 SF/YR Market Overall: $19.36 SF/YR PROPERTY HIGHLIGHTS: Currently 90% Occupied, but in 2016 the whole top floor of 6,000 +/ SF will be Vacant allowing the purchaser to use SBA financing $140 per SF 11,858 SF Office Current NOI $99,812 33 open parking spots and 8 covered; ratio of 2.75/1,000 SF Currently One Vacancy of 1,108 +/ SF Available Units 200, 240 and 280 will all be vacant in 2016 totaling 6,000 +/ SF Zoned: C1 Lot Size: 0.92 AC Built in 1999
RENT ROLL
SBA FINANCING TERMS MEADOWS BANK LOAN ESTIMATE 8685 WEST SAHARA 11,858 SF 6/16/2015 SBA 7a LOAN ESTIMATE TOTAL PROJECT SUMMARY TOTAL FINANCING AND EQUITY SUMMARY Land and/or Building $ Total Project Costs $ 1,715,159 100.00% Architect/Professional $ Borrowers' Equity Injection $ 172,159 10.04% Construction Contract $ 0 $ 0.00% Installed Equipment $ Total Amount Financed $ 1,543,000 89.96% Interest Reserve $ Contingency $ Voucher Control Fee $ 0 $ 7a Loan $ 1,543,000 89.96% 0 $ Land and/or Building $ 1,660,120 Title and Escrow Fees $ 5,692 * Phase One $ 1,750 * Appraisal $ 3,200 * Deposit Misc. Exp. $ 1,000 * Packaging Fee $ 2,500 *** SUMMARY OF FEES AND CLOSING COSTS Document Fee $ * Third Party Fees $ 11,642 0.68% 0 $ ** SBA Guarantee Fee $ 40,897 2.38% 0 $ 0 $ *** Meadows Bank Fees $ 2,500 0.15% 0 $ 0 $ SBA Guarantee Fee $ 40,897 ** Conventional Loan Fee $ Construction Loan Fee $ Total Project Costs $ 1,715,159 7a Loan LOAN AMOUNT $ 1,543,000 INTEREST RATE 5.00% LOAN AMORTIZATION (in months) 300 LOAN TERM (in months) 300 PREPAYMENT PENALTY 3 year, 5%,3%,1% LOAN PAYMENT $ 9,020 TOTAL MONTHLY PRINCIPAL AND INTEREST PAYMENT $ 9,020 For More Information Call: Rate is PRIME + 1.75%, Monthly Interest Rate Adjust. PRIME is Currently 3.25%, Subject to Change Sales: Financing: John Blommer Office: (702) 7870123 x 431 Cell: (312) 4014737 Fax: Email: Mike Rogers Office: (702) 4712046 Cell: (702) 2864330 Fax: Email: mrogers@meadowsbank.com For Qualified Applicant. Price subject to change without notice. Rates subject to change without notice. Loan terms and conditions may vary based upon lending program, subsidiary and applicant qualification. This "scenario" does not constitute a binding agreement. Meadows Bank is not affiliated with brokers or brokerage listed above (if any).
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DEMOGRAPHIC SUMMARY REPORT Building Type: Class B Office Class: B RBA: 12,000 SF Typical Floor: 6,000 SF 8685 W Sahara Ave, Las Vegas, NV 89117 Total Available: % Leased: Rent/SF/Yr: 0 SF 100% Radius 1 Mile 3 Mile 5 Mile Population 2020 Projection 19,162 168,862 454,222 2015 Estimate 18,238 160,162 430,092 2010 Census 17,873 154,490 411,707 Growth 2015 2020 5.07% 5.43% 5.61% Growth 2010 2015 2.04% 3.67% 4.47% 2015 Population by Hispanic Origin 2,913 30,200 110,357 2015 Population By Race 18,238 160,162 430,092 White 12,992 71.24% 113,329 70.76% 310,091 72.10% Black 1,723 9.45% 15,163 9.47% 42,382 9.85% Am. Indian & Alaskan 120 0.66% 1,300 0.81% 4,139 0.96% Asian 2,458 13.48% 22,532 14.07% 52,631 12.24% Hawaiian & Pacific Island 132 0.72% 1,193 0.74% 3,508 0.82% Other 814 4.46% 6,646 4.15% 17,341 4.03% Households 2020 Projection 8,400 67,960 178,298 2015 Estimate 7,997 64,472 168,880 2010 Census 7,854 62,324 162,076 Growth 2015 2020 5.04% 5.41% 5.58% Growth 2010 2015 1.82% 3.45% 4.20% Owner Occupied 4,151 51.91% 35,630 55.26% 91,407 54.13% Renter Occupied 3,845 48.08% 28,841 44.73% 77,473 45.87% 2015 Households by HH Income 7,996 64,472 168,877 Income: <$25,000 1,631 20.40% 11,652 18.07% 34,761 20.58% Income: $25,000 $50,000 2,054 25.69% 18,034 27.97% 47,511 28.13% Income: $50,000 $75,000 1,639 20.50% 13,306 20.64% 33,049 19.57% Income: $75,000 $100,000 921 11.52% 7,880 12.22% 20,036 11.86% Income: $100,000 $125,000 649 8.12% 5,160 8.00% 12,770 7.56% Income: $125,000 $150,000 345 4.31% 2,660 4.13% 6,460 3.83% Income: $150,000 $200,000 301 3.76% 3,002 4.66% 6,982 4.13% Income: $200,000+ 456 5.70% 2,778 4.31% 7,308 4.33% 2015 Avg Household Income $74,049 $72,642 $70,313 2015 Med Household Income $53,569 $54,103 $51,468 Copyrighted report licensed to Virtus Commercial 683894