FOR HAP-E-DOG PLAZA & SNAPPY CAR WASH...Las Vegas, NV ACT ID ZAA0220313 2225 N Nellis Boulevard, Las Vegas, Nevada, 89115. PAGE INVESTMENT OVERVIEW 04 Offering Summary Investment Highlights

FOR

SALEHAP-E-DOG PLAZA & SNAPPY CAR WASH

OFFERING MEMORANDUM

PRICE: $1,400,000 | CAP: 10.01% | ACRES: 1.49

2225 N NELLIS BLVD, LAS VEGAS, NEVADA

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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

2225 N. NELLIS BOULEVARD

Las Vegas, NV

ACT ID ZAA0220313

2225 N Nellis Boulevard, Las Vegas, Nevada, 89115

PAGE

INVESTMENT OVERVIEW 04

Offering Summary

Investment Highlights

Regional Map

Aerial Photo

Property Photos

FINANCIAL ANALYSIS 10

Rent Roll

Operating Statement

Financial Summary

MARKET OVERVIEW 14

Market Analysis

Demographics

TABLE OF CONTENTS


INVESTMENT

OVERVIEW


#5

INVESTMENT OVERVIEW

Offering Summary

Price $1,400,000

Cap Rate (Current) 10.01%

Net Operating Income $140,191

Gross Leasable Area (Hap-E-Dog Plaza) ±4,800 SF

Year Built 1985

Current Occupancy 100%

Lot Size 1.49 Acre(s)

Type of Ownership Fee Simple

Down Payment 50.5% / $707,000

Loan Amount $700,000

Loan Type Proposed New

Interest Rate / Amortization 5.5% / 25 Years

Net Cash Flow (After Debt Service) 12.53% / $88,607

Total Return 14.44% / $102,087


OFFERING SUMMARY

Executive Summary

#6

▪ 100% Occupied Retail Building & Self-Service Car Wash

▪ Net Income Over $140,000 Per Year

▪ ±1.49 Acres at Corner of Nellis Blvd & Judson

▪ Located 1-Mile From Nellis Air Force Base

▪ Excellent Access and Strong Traffic Counts (30k+ AADT)

▪ Primary Commercial Corridor in East Las Vegas

Investment HighlightsProperty Bonanza Lamb Business Park

Street Address 2225 North Nellis Boulevard

City, State, Zip Las Vegas, NV 89115

Gross Leasable Area ±9,600

Year Built 1985

Lot Size (Contiguous) ±1.49 acres

Parcel Number (Hap-E-Dog Plaza) 140-20-502-016

Parcel Number (Snappy Car Wash) 140-20-502-017

Zoning M-1 & C-1

Occupancy 100%

Property Details

INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in Hap-E-Dog Plaza, a fully-occupied, 4,800 square-foot retail building

constructed in 1985; and Snappy Car Wash, a fully-operational, self-service car wash, also constructed in 1985. The buildings are situated on two adjacent parcels

comprising 1.49 acres, at the Northwest corner of Nellis Boulevard and Judson Avenue. Vehicle access to the property is via one (1) curb cut on Judson and two (2) curb

cuts on Nellis, with traffic counts on Nellis averaging over 30,000 vehicles per day. The current owner purchased the properties in 1998.

The self-service car wash is fully-operational and includes six (6) covered wash bays and an additional six (6) covered vacuum bays, which are all coin operated. The car

wash also includes a smog check station. Property ownership includes the fee simple real estate and the business.

The plaza comprises a 4,800 square-foot, free-standing retail building that is fully-occupied by two tenants: 1) a tire repair shop, and 2) a dog grooming/boarding

business, both of which have occupied the premises for several years. The property includes significant improvements and the zoning necessary for each of their

respective businesses. Both tenants would like longer term leases; however, the current owner currently has them as month-to-month to allow maximum flexibility for a

future owner.


REGIONAL MAP

#7

SNAPPY CAR WASH &

HAP-E-DOG PLAZA

FINANCIAL

ANALYSIS

8

BONANZA LAMB BUSINESS PARK


OFFERING SUMMARY

#9

Summary

Price $1,400,000

Down Payment 51% $707,000

Number of Suites/Businesses 4

Gross Leasable Area (GLA) ±9,600 SF

Year Built 1985

Lot Size ±1.49 Acres

Zoning C-1 & M-1

Occupancy 100%

Operating Data Year 1

Scheduled Base Rental Income $193,524

Total Reimbursement Income 20.1% $0

Other Income $0

Potential Gross Revenue $193,524

General Vacancy $0

Effective Gross Revenue $193,524

Less: Operating Expenses 27.6% ($53,333)

Net Operating Income $140,191

Debt Service ($51,583)

Net Cash Flow After Debt Service 12.53% $88,607

Principal Reduction $13,480

Total Return 14.44% $102,087

Operating Expenses Year 1

CAM $34,643

Insurance $4,590

Real Estate Taxes $6,756

Management Fee $7,344

Total Expenses $53,333

Expenses/SF $5.56

Returns Year 1

CAP Rate 10.01%

Cash-on-Cash 12.53%

Debt Coverage Ratio 2.72

Financing

Loan Amount $700,000

Loan Type New

Interest Rate 5.5%

Amortization 25 Years

Fixed / Due 5 / 10 yrsLoan information is subject to change. Contact your Marcus & Millichap Capital

Corporation representative.

FINANCIAL ANALYSIS

Financial Summary


OFFERING SUMMARY

Rent Roll / Income – Current

FINANCIAL ANALYSIS

#10

Lease Dates

Tenant Name Suite SF Comm. ExpirationRent PSF(Month)

Base Rent(Month)

Base Rent/IncomePer Year

ExpenseReimb.

LeaseType

Dog Grooming A 2,400 m/m $1.25 $3,000 $36,000 none MG

Tire Shop B 2,400 m/m $1.67 $4,000 $48,000 none MGCar Wash 4,750 $73,572

Smog Check 50 $35,952

Total $193,524

Operating Statement

Income Year 1 Per SF

Scheduled Base Rental Income 193,524 20.56

Expense Reimbursement Income $0

Operating Expenses Year 1 Per SF

Water 3,932 0.42

Electric 1,474 0.16

Sewer 1,445 0.15

Trash 5,944 0.63

Cleaning & Maintenance (Car Wash) 5,304 0.56

Maintenance & Repairs (Hap E Dog Plaza) 5,610 0.60

Maintenance (Smog Check) 2,652 0.28

Supplies (Car Wash) 6,268 0.67

Supplies (Smog Check) 791 0.08

Internet Service 1,224 0.13

Insurance 4,590 0.49

Real Estate Taxes 6,756 0.72

Management Fee 7,344 0.78

Total Expenses $53,333 $5.67

Expenses as % of EGR 27.6%

Net Operating Income $140,191 $14.89


MARKET

OVERVIEW

11

BONANZA LAMB BUSINESS PARK


#12

LAS VEGASOVERVIEW

Las Vegas is considered one of the premier entertainment cities of

the world and attracts more than 42 million visitors a year. It has

evolved into a world-class destination for resorts, restaurants,

shopping and diversified entertainment options.

The Las Vegas-Henderson-Paradise MSA is also one of the fastest-

growing metros in the nation. The total MSA population of just over

2.2 million people ranks it among the top 50 most populous metros

in the U.S. In conjunction with rising wages, the metro’s median

household income recently surpassed the national average by 1.4

percent as it climbed 5.1 percent. This increase allows residents to

make more discretionary spending.

METRO HIGHLIGHTS

ROBUST EMPLOYMENT GROWTH

A diversifying employment base will support job

growth, which is expected to outpace the U.S.

growth rate over the next five years.

STRONG POPULATION GAINS

The metro’s population is forecast to increase

dramatically in the coming years, exceeding

national gains.

VAST TOURISM INDUSTRY

Visitor volume reached 42 million in 2018,

ranking Las Vegas among the top tourist

destinations in the country.

MARKET OVERVIEW

MARKET OVERVIEW

ECONOMY

▪ With all 10 of the nation’s largest hotels located in Las Vegas, tourism and entertainment

are the most significant drivers of the Las Vegas economy; however, the economy is

diversifying into distribution, back-office operations and manufacturing.

▪ The metro's business-friendly environment, access to Western markets, large labor force,

and availability of high-speed data attract companies such as Switch, Amazon, K2 Energy,

Scientific Games, Sunpreme, Tectonics, Virtual Guard, VadaTech and Zappos.

▪ The 2.3 million-square-foot Las Vegas Convention Center is one of the largest in the world

and draws more than 6 million attendees annually.

SHARE OF 2018 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Wynn Resorts

Station Casinos

MGM Resorts

Las Vegas Sands

Caesars Entertainment

Boyd Gaming

The Valley Health System

Cosmopolitan of Las Vegas

Dignity Health

United Healthcare of Nevada* Forecast

MANUFACTURING2%

GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

18%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

1%INFORMATION

14%

7%

11% 29% 5%

10%

#13

Source: © 2015 Experian

DEMOGRAPHICS (MSA)

SPORTS

ARTS & ENTERTAINMENT

▪ The population will expand by more than 264,000 residents over the next five years, resulting in the formation of nearly 116,000 households.

▪ The homeownership rate of 52 percent is well below the national rate of 64 percent, creating a strong rental market.

▪ Roughly 22 percent of the population age 25 and older have attained a bachelor’s degree, and 7 percent also hold a graduate or professional degree.

With approximately 320 days of sunshine annually and an average temperature of 80

degrees, residents and visitors alike have plenty to do besides enjoy the resorts and

casinos in Clark County. Water-sports enthusiasts can take advantage of various

activities at Lake Mead and the Colorado River, including boating, fishing, water skiing

and sailing. Red Rock Canyon Conservation Area, located off the Strip, offers

outstanding hiking and mountain-climbing opportunities. Las Vegas is home to the

University of Nevada-Las Vegas (UNLV), which has received national recognition for its

hotel management, criminal justice and social-work programs. Other institutions of

higher learning in Las Vegas include the College of Southern Nevada.

QUALITY OF LIFE

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Forbes; Fortune; Las

Vegas Convention and Visitors Authority; Moody’s Analytics; U.S. Census Bureau

37.1

2018MEDIAN AGE:

U.S. Median:

38.0

$55,700

18 MEDIAN HH INCOME:

U.S. Median:

$58,800

2.2M

2018POPULATION:

Growth2018-2023*:

12.1%

800K

2018HOUSEHOLDS:

14.5%

Growth2018-2023*:

2018 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

6%25-44 YEARS

29%45-64 YEARS

25%65+ YEARS

14%

MARKET OVERVIEW

#14

1 Miles 2 Miles 3 Miles

POPULATION

2023 Projection 16,521 79,149 199,988

2018 Estimate 15,893 78,371 195,879

2010 Census 14,555 72,519 181,244

HH INCOME

Average $45,846 $51,766 $53,485

Median $33,694 $40,759 $41,394

HOUSEHOLDS

2023 Projection 4,647 23,612 59,291

2018 Estimate 4,346 22,738 56,197

2010 Census 4,043 21,257 52,551

#15

2225 N Nellis Boulevard,

Las Vegas, Nevada 89115

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

College of Southern Nevada 2,900

Lockheed Martin Corp. 690

Walmart 440

Yucaipa Companies 304

US Air Force 266

DEMOGRAPHICS

DEMOGRAPHICS

#16


Created November 2019

POPULATION 1 Miles 2 Miles 3 Miles

▪ 2023 Projection

Total Population 16,521 79,149 199,988

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2018 Estimate 12,487 51,596 126,753

HOUSEHOLDS 1 Miles 2 Miles 3 Miles

▪ 2023 Projection

Total Households 4,647 23,612 59,291

▪ 2018 Estimate


Average (Mean) Household Size 3.63 3.36 3.40

▪ 2010 Census


▪ 2000 Census


▪ Occupied Units

2023 Projection 4,647 23,612 59,291

2018 Estimate 4,962 25,115 62,522

HOUSEHOLDS BY INCOME 1 Miles 2 Miles 3 Miles

▪ 2018 Estimate

$150,000 or More 1.59% 2.29% 2.95%

$100,000 - $149,000 6.52% 7.77% 7.52%

$75,000 - $99,999 8.12% 10.58% 10.42%

$50,000 - $74,999 15.79% 18.77% 19.23%

$35,000 - $49,999 16.35% 17.23% 17.38%

Under $35,000 51.62% 43.35% 42.51%

Average Household Income $45,846 $51,766 $53,485

Median Household Income $33,694 $40,759 $41,394

Per Capita Income $12,543 $15,038 $15,610

HOUSEHOLDS BY EXPENDITURE 1 Miles 2 Miles 3 MilesTotal Average Household Retail Expenditure

$47,064 $52,968 $53,424

▪ Consumer Expenditure Top 10 Categories

Housing $13,514 $14,678 $14,737

Transportation $8,645 $9,896 $9,950

Shelter $8,474 $8,999 $9,044

Food $4,890 $5,319 $5,360

Personal Insurance and Pensions $3,448 $4,194 $4,210

Utilities $2,691 $2,975 $2,986

Health Care $2,541 $3,070 $3,066

Entertainment $1,854 $2,176 $2,218

Apparel $1,220 $1,308 $1,319

Household Furnishings and Equipment

$1,143 $1,313 $1,312

POPULATION PROFILE 1 Miles 2 Miles 3 Miles

▪ Population By Age

2018 Estimate Total Population 15,893 78,371 195,876

Under 20 38.19% 33.99% 33.73%

20 to 34 Years 23.18% 22.69% 23.55%

35 to 39 Years 7.69% 7.06% 7.11%

40 to 49 Years 12.92% 12.98% 12.98%

50 to 64 Years 12.42% 15.28% 14.59%

Age 65+ 5.61% 8.02% 8.05%

Median Age 27.70 30.39 30.06

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 8,642 45,820 114,245

Elementary (0-8) 16.04% 13.51% 14.91%

Some High School (9-11) 20.00% 17.29% 17.56%

High School Graduate (12) 31.21% 32.63% 31.59%

Some College (13-15) 18.06% 20.12% 19.32%

Associate Degree Only 3.46% 4.77% 4.88%

Bachelors Degree Only 4.41% 5.57% 5.61%

Graduate Degree 1.71% 2.74% 2.93%


MARKET OVERVIEW

#17

Income

In 2018, the median household income for your selected geography

is $41,394, compare this to the US average which is currently

$58,754. The median household income for your area has changed

by 7.45% since 2000. It is estimated that the median household

income in your area will be $46,660 five years from now, which

represents a change of 12.72% from the current year.

The current year per capita income in your area is $15,610, compare

this to the US average, which is $32,356. The current year average

household income in your area is $53,485, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 195,876. The

population has changed by 21.71% since 2000. It is estimated that

the population in your area will be 199,988.00 five years from now,

which represents a change of 2.10% from the current year. The

current population is 50.21% male and 49.79% female. The median

age of the population in your area is 30.06, compare this to the US

average which is 37.95. The population density in your area is

6,923.40 people per square mile.

Households

There are currently 56,197 households in your selected geography.

The number of households has changed by 13.68% since 2000. It is

estimated that the number of households in your area will be 59,291

five years from now, which represents a change of 5.51% from the

current year. The average household size in your area is 3.40

persons.

Employment

In 2018, there are 34,006 employees in your selected area, this is

also known as the daytime population. The 2000 Census revealed

that 40.51% of employees are employed in white-collar occupations

in this geography, and 59.46% are employed in blue-collar

occupations. In 2018, unemployment in this area is 8.25%. In 2000,

the average time traveled to work was 31.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

42.38% White, 13.62% Black, 0.57% Native American and 4.18%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 62.91% of the current year

population in your selected area. Compare this to the US average of

18.01%.

Housing

The median housing value in your area was $115,334 in 2018,

compare this to the US average of $201,842. In 2000, there were

28,662 owner occupied housing units in your area and there were

20,774 renter occupied housing units in your area. The median rent

at the time was $575.



Exclusively listed by:

TODD R. MANNINGVice President Investments

LAS VEGAS OFFICE

702.5754866 [email protected]

FOR HAP-E-DOG PLAZA & SNAPPY CAR WASH...Las Vegas, NV ACT ID ZAA0220313 2225 N Nellis Boulevard, Las Vegas, Nevada, 89115. PAGE INVESTMENT OVERVIEW 04 Offering Summary Investment Highlights

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