broker price opinion & suggested list...
TRANSCRIPT
6140 Brent Thurman Way, Suite 140Las Vegas, Nevada 89148702 | 968 | 7300 Ph 702 | 968 | 7301 Fax
Prepared by: Sun Commercial Real Estate, Inc.:Las Vegas, Nevada - 702 | 968 | 7300 Ph
Prepared for:Lolas Trust and Navidi Family Trust
c/o Roshi Mahban
BROKER PRICE OPINION & SUGGESTED LIST PRICE± 0.76 Acres - E. Lake Mead Boulevard
Las Vegas, Nevada 89115
Edward Bassford702-968-7311
Michael Brazill702-968-7306
Subject Property
E LAKE MEAD BLVD
N WALNUT R
D
N
Future
John Chambers Senior Apartments
0.76 Acres - e. LAke MeAd BouLevArd
2
Edward Bassford, Broker/SalespersonBS.0006987.LLCBroker: Cathy Jones
Michael Brazill, SalespersonS.0174206.LLCBroker: Cathy Jones
Disclaimer
Sun Commercial Real Estate, Inc. has been retained to prepare the enclosed Broker Price Opinion. The information contained herein has been obtained from sources believed to be reliable, however, Sun Commercial Real Estate, Inc. makes no guarantees, warranties or representations as to the completeness and accuracy thereof. All information should be independently confirmed by any prospective purchaser.
Sun Commercial Real Estate, Inc. has prepared the enclosed Broker Price Opinion which is not complete without the attachment.
Notwithstanding any preprinted language to the contrary, this opinion is not an appraisal of the market value of the property. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained.
Property SummaryAerial MapProperty PhotoAssessor Parcel MapLas Vegas Valley Location Map
Table of Contents
Property Overview Section 2
Fee Proposal
Marketing Plan
Section 4
Section 5
Broker Price Opinion & Suggested List Price Section 1
Market Overview Section 3
Sold ComparablesFor Sale ComparablesArea Demographics
3
Due Diligence Checklist Section 6
0.76 Acres - e. LAke MeAd BouLevArd
4
Broker Price oPinion & suggesteD list Price
At the request of Lolas Trust and Navidi Family Trust c/o Roshi Mahban, Sun Commercial Real Estate, Inc. (the “Broker”) has prepared a Broker Price Opinion for the .76 Acre in-line parcel located west of the northwest of E. Lake Mead Blvd. & Walnut Rd., Assessor Parcel Number 140-19-204-017, Las Vegas, Nevada under the following scenarios: 1) Broker Price Opinion: “As-Is” 2) Suggested List Price The subject property consists of one parcel of land, totaling .76 acres (33,105.6 SF) located west of the northwest corner of E. Lake Mead Blvd. & Walnut Rd. It has the zoning classification of General Commercial (C-2) under the jurisdiction of Clark County, NV.
Based on the analysis presented in the following report it is the opinion of the Broker that as of April 5, 2017, the Overall “As-Is” value of the subject properties is:
TWO HUNDRED SIXTY FOUR THOUSAND EIGHT HUNDRED FORTY FOUR DOLLARS($264,844.00)
$8.00 PSFNOTE: When valuing this asset we took the Sales Comparables Approach into consideration. We searched all comparable Sold commercial land comps within the 2 mile radius of the subject from January 1st, 2015 through present using location, size, and type, and chose the best 6 sold comparables ranging from $3.55 PSF to $16.82 PSF with an average of $7.75 PSF. The properties located on busy main intersections tend to have a higher value. The parcel at the northwest corner of E. Lake Mead Blvd. & Walnut Rd., which recently sold at $16.32/SF, included the off-site improvements, engineering plans, subdivision of parcel, NDOT, Clark County and N Las Vegas City Agreements, and took 3 years to complete. This sale is the most comparable property at $10.32 PSF after adjusting for estimated improvements costs of $6.00 PSF. The Subject property will have a lessor value due to it’s mid-block, limited frontage attributes.
Sun Commercial Real Estate, Inc. suggests a List Price for the subject property of:
THREE HUNDRED THIRTY ONE THOUSAND FIFTY SIX DOLLARS($331,560.00)
$10.00 PSFNOTE: We found 14 For Sale comparables ranging from $6.17 PSF to $12.00 PSF with an average of $8.14 PSF. The most comparable for sale properties are at the northeast, northwest and southwest corners of E. Lake Mead Blvd. and Walnut Rd. with asking prices of $8.69 PSF to $12.00 PSF.
0.76 Acres - e. LAke MeAd BouLevArd
5
ProPerty summary
Property Location:
Property Description:
Assessor Parcel Numbers:
Zoning:
Site Size - Acres:
Site Size - SF:
The property is located to the west of northwest corner of E. Lake Mead Blvd. and N. Walnut Rd. in the Northeast Las Vegas Submarket roughly 2.7 Mi. east of I-15 and 1.5 Mi. east of the City of North Las Vegas Civic Center, North Vista Hospital and intense surrounding office and retail development. Lake Mead Blvd. is a major east-west commuter route with an average daily traffic count on E. Lake Mead Blvd. of 31,000 counted 0.1 Mi. west of Lamb Blvd. and 32,500 counted 400’ west of Pecos Rd. Across E. Lake Mead Blvd. is the Rainbow Market gas/convenience store and and to the west is the John Chamber senior living apartments. It was just revealed that an O’Reilly’s Auto Parts will be developed on the northwest corner of the intersection of E. Lake Mead and N. Walnut to the east of the property.
The Property is ±.76 acres of vacant land with frontage along E Lake Mead Blvd. Is is zoned C-2 (Commercial - Clark County) allowing for a variety of commercial uses.
140-19-204-017
(C-2) General Commercial
± 0.76 Acres
± 33,106 SF
E LAKE MEAD BLVD
N W
ALNU
T RD
0.76 Acres - e. LAke MeAd BouLevArd
6
aerial maP
E LAKE MEAD BLVD
N WALNUT RD
SUBJECT PROPERTY
John Chambers Senior Apartments
Future
0.76 Acres - e. LAke MeAd BouLevArd
7
ProPerty Photo
0.76 Acres - e. LAke MeAd BouLevArd
8
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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
GE
ND
USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL
ASSESSOR'S PARCELS - CLARK CO., NV.
Scale: 1" = 200' 12/22/2016
T20S R62E 19 S 2 NW 4 140-19-2
31
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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
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HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY
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TAX DIST
0 200 400 600 800100 SECTION LINE
CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL
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Michele W. Shafe - Assessor
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091
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066060067059068058069057070056071055072054073053074052075051
039037040036041035042034043033044032045031046030047029048028049027050026
013014012015011016010017009018008019007020006021005022004023003024002
025001
002001 003 004 006005 007
009
010107 038 063 064
105
011
104012
103
102
101106
050
015
013
95-001
97-004
97-00397-002
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 CO., NV.
Scale: 1" = 200' 12/22/2016
T20S R62E 19 S 2 NW 4 140-19-2
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
340
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
140139
161162
124 123
141
160
122
138
163
125
Michele W. Shafe - Assessor
LAKE MEAD BLVD
WAL
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T RD
0.76 Acres - e. LAke MeAd BouLevArd
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las Vegas Valley location maP
0.76 Acres - e. LAke MeAd BouLevArd
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solD comParaBles
E Lake Mead Blvd & Walnut Rd - Sold Comps
Parcel NumberLand
Area AC Zoning Property AddressProperty Zip Code
Property Type Proposed Use Sale Date Asking Price Sale Price Sale/SF
140-19-204-011 0.75 C-1 E Lake Mead & Walnut Rd (NWC) 89115 Land Auto Parts Store 1/15/2017 $533,250.00 $16.32
139-13-602-005 4.4 C-2 2905 N Las Vegas Blvd 89030 Land Manuftrd Hms/Mobl Hm Prk 8/31/2016 $883,291.00 $4.61
140-20-301-001 1.16 C-1 E Lake Mead & Lamb Blvd (SEC) 89115 Land Retail 11/25/2015 $1,100,000.00 $850,000.00 $16.82
140-19-101-016 3.88 C-2 2216 N Pecos Rd 89115 Land MultiFamily 11/18/2016 $626,400.00 $3.71
140-07-710-007 2.42 C-2 N Lamb Blvd 89115 Land Industrial ... 3/28/2016 $500,000.00 $390,000.00 $3.70
140-20-701-018 1.04 C-1 1851 N Nellis Blvd 89115 Land Fast Food 2/19/2016 $325,000.00 $250,000.00 $5.52
140-20-610-072 0.84 C-2 4925 E Lake Mead Blvd 89115 Land Commercial 10/26/2016 $130,000.00 $3.55
AVG $7.75
1-5 Acres, 2.5 Mike Radius, Commercial Land, Sold Past 1.5 years
0.76 Acres - e. LAke MeAd BouLevArd
11
For sale comParaBles
E Lake Mead Blvd & Walnut Rd - For Sale Comps
Parcel NumberLand Area
AC Zoning Property AddressProperty Zip Code
PropertyType Proposed Use Asking Price Price Per SF Land
140-32-101-016 2.09 C-1 4565 E Bonanza Rd 89110 Land Retail $888,000.00 $9.75
140-19-204-018 1.71 C-1 E Lake Mead & Walnut Rd (NWC) 89115 Land Fast Food ... $893,851.00 $8.03
140-07-710-007 2.42 C-1 N Lamb Blvd 89115 Land Industrial ... $790,000.00 $7.49
140-21-304-005 2.35 C-2 1882 N Nellis Ave 89115 Land $750,000.00 $7.33
140-07-403-006 2.23 C-2 3545 N Las Vegas Blvd 89030 Land Auto Dealership $699,000.00 $7.20
140-19-803-006 2.14 C-2 E Owens Ave 89115 Land Commercial $575,000.00 $6.17
139-13-304-017 1.87 C-2 2660 N Las Vegas Blvd 89030 Land Commercial $575,000.00 $7.06
140-19-611-001 1.01 C-1 E Lake Mead & Walnut Rd (NEC) 89115 Land Commercial $530,000.00 $12.05
140-20-610-086 1.42 C-2 5081 Holt Ave 89115 Land $499,000.00 $8.09
140-07-702-002 1.85 H-2 3680 N Las Vegas Blvd 89115 Land $499,000.00 $6.19
140-19-302-011 1.11 OP E Lake Mead & Walnut Rd (SWC) 89115 Land Commercial $420,000.00 $8.69
139-25-516-005 0.99 C-1 3441 E Owens Ave 89101 Land $395,000.00 $9.16
140-08-301-006 0.83 C-1 3420 N Lamb Blvd 89115 Land $350,000.00 $9.68
140-20-601-002 1.13 C-1 2161 N Nellis Blvd 89115 Land $344,560.00 $7.00
AVG $8.14
1-3 Acres, 2 Mile Radius, Commercial Land
0.76 Acres - e. LAke MeAd BouLevArd
12
Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 1 mile radius Latitude: 36.19589
Longitude: -115.08884
Summary Census 2010 2016 2021Population 31,894 34,632 37,321Households 8,359 8,854 9,451Families 6,722 7,090 7,555Average Household Size 3.81 3.91 3.95Owner Occupied Housing Units 3,927 3,690 3,869Renter Occupied Housing Units 4,432 5,164 5,582Median Age 26.0 26.5 27.0
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.51% 1.43% 0.84%Households 1.31% 1.30% 0.79%Families 1.28% 1.28% 0.72%Owner HHs 0.95% 1.29% 0.73%Median Household Income -0.12% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 1,519 17.2% 1,729 18.3%$15,000 - $24,999 1,260 14.2% 1,333 14.1%$25,000 - $34,999 1,466 16.6% 1,569 16.6%$35,000 - $49,999 1,813 20.5% 1,283 13.6%$50,000 - $74,999 1,583 17.9% 2,165 22.9%$75,000 - $99,999 734 8.3% 835 8.8%$100,000 - $149,999 401 4.5% 433 4.6%$150,000 - $199,999 51 0.6% 74 0.8%$200,000+ 27 0.3% 31 0.3%
Median Household Income $36,021 $35,812Average Household Income $43,878 $46,330Per Capita Income $11,412 $11,916
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 3,651 11.4% 3,827 11.0% 4,092 11.0%5 - 9 3,364 10.5% 3,515 10.1% 3,750 10.0%10 - 14 3,024 9.5% 3,178 9.2% 3,387 9.1%15 - 19 2,901 9.1% 2,919 8.4% 3,016 8.1%20 - 24 2,482 7.8% 3,011 8.7% 3,105 8.3%25 - 34 5,020 15.7% 5,504 15.9% 6,036 16.2%35 - 44 4,544 14.2% 4,642 13.4% 5,023 13.5%45 - 54 3,384 10.6% 3,622 10.5% 3,795 10.2%55 - 64 1,996 6.3% 2,425 7.0% 2,716 7.3%65 - 74 1,022 3.2% 1,381 4.0% 1,655 4.4%75 - 84 424 1.3% 507 1.5% 620 1.7%
85+ 84 0.3% 103 0.3% 125 0.3%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 13,527 42.4% 13,911 40.2% 14,212 38.1%Black Alone 2,926 9.2% 3,349 9.7% 3,655 9.8%American Indian Alone 250 0.8% 264 0.8% 271 0.7%Asian Alone 682 2.1% 755 2.2% 842 2.3%Pacific Islander Alone 101 0.3% 103 0.3% 107 0.3%Some Other Race Alone 12,851 40.3% 14,508 41.9% 16,338 43.8%Two or More Races 1,557 4.9% 1,743 5.0% 1,896 5.1%
Hispanic Origin (Any Race) 23,494 73.7% 26,220 75.7% 28,885 77.4%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 1 of 6
Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 1 mile radius Latitude: 36.19589
Longitude: -115.08884
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Ann
ual R
ate
(in
perc
ent)
21.81.61.41.2
10.80.60.40.2
0
Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
16
14
12
10
8
6
4
2
00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K17.2%
$15K - $24K14.2%
$25K - $34K16.6%
$35K - $49K20.5%
$50K - $74K17.9%
$75K - $99K8.3%
$100K - $149K4.5%
$150K - $199K0.6%
$200K+0.3%
2016 Population by Race2016 Population by Race
Perc
ent
40
35
30
25
20
15
10
5
0White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 75.7%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 2 of 6
area DemograPhics (1 mile raDius)
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area DemograPhics (3 mile raDius)Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 3 mile radius Latitude: 36.19589
Longitude: -115.08884
Summary Census 2010 2016 2021Population 205,837 215,123 226,543Households 57,837 59,401 62,103Families 42,602 43,557 45,445Average Household Size 3.49 3.56 3.59Owner Occupied Housing Units 25,284 23,497 24,138Renter Occupied Housing Units 32,553 35,904 37,966Median Age 28.3 28.9 29.4
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.04% 1.43% 0.84%Households 0.89% 1.30% 0.79%Families 0.85% 1.28% 0.72%Owner HHs 0.54% 1.29% 0.73%Median Household Income -0.37% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 10,845 18.3% 11,686 18.8%$15,000 - $24,999 9,406 15.8% 9,610 15.5%$25,000 - $34,999 9,162 15.4% 10,030 16.2%$35,000 - $49,999 10,840 18.3% 7,375 11.9%$50,000 - $74,999 10,383 17.5% 13,302 21.4%$75,000 - $99,999 4,836 8.1% 5,417 8.7%$100,000 - $149,999 3,022 5.1% 3,482 5.6%$150,000 - $199,999 574 1.0% 829 1.3%$200,000+ 323 0.5% 363 0.6%
Median Household Income $35,264 $34,625Average Household Income $44,513 $47,527Per Capita Income $13,150 $13,862
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 20,838 10.1% 21,005 9.8% 22,054 9.7%5 - 9 19,808 9.6% 19,353 9.0% 19,958 8.8%10 - 14 18,150 8.8% 18,482 8.6% 18,762 8.3%15 - 19 17,846 8.7% 17,312 8.0% 17,800 7.9%20 - 24 15,701 7.6% 17,968 8.4% 18,143 8.0%25 - 34 31,225 15.2% 33,480 15.6% 35,807 15.8%35 - 44 29,192 14.2% 28,417 13.2% 29,987 13.2%45 - 54 23,848 11.6% 24,414 11.3% 24,586 10.9%55 - 64 15,738 7.6% 18,103 8.4% 19,748 8.7%65 - 74 8,659 4.2% 11,011 5.1% 12,852 5.7%75 - 84 3,819 1.9% 4,426 2.1% 5,526 2.4%
85+ 1,014 0.5% 1,154 0.5% 1,322 0.6%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 91,108 44.3% 90,044 41.9% 89,706 39.6%Black Alone 24,311 11.8% 26,470 12.3% 28,172 12.4%American Indian Alone 1,963 1.0% 1,995 0.9% 2,019 0.9%Asian Alone 5,718 2.8% 6,217 2.9% 6,877 3.0%Pacific Islander Alone 947 0.5% 977 0.5% 1,023 0.5%Some Other Race Alone 72,117 35.0% 78,995 36.7% 87,593 38.7%Two or More Races 9,673 4.7% 10,425 4.8% 11,152 4.9%
Hispanic Origin (Any Race) 135,451 65.8% 146,310 68.0% 158,445 69.9%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 3 of 6
Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 3 mile radius Latitude: 36.19589
Longitude: -115.08884
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Annual
Rat
e (i
n p
erce
nt)
2
1.5
1
0.5
0
Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
14
12
10
8
6
4
2
00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K18.3%
$15K - $24K15.8%
$25K - $34K15.4%
$35K - $49K18.3%
$50K - $74K17.5%
$75K - $99K8.1%
$100K - $149K5.1%
$150K - $199K1.0%
$200K+0.5%
2016 Population by Race2016 Population by Race
Perc
ent
40
35
30
25
20
15
10
5
0White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 68.0%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 4 of 6
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area DemograPhics (5 mile raDius)Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 5 mile radius Latitude: 36.19589
Longitude: -115.08884
Summary Census 2010 2016 2021Population 434,166 460,643 489,388Households 134,997 140,962 148,952Families 93,340 97,029 102,296Average Household Size 3.14 3.19 3.21Owner Occupied Housing Units 64,970 62,230 65,000Renter Occupied Housing Units 70,027 78,732 83,952Median Age 31.0 31.7 32.1
Trends: 2016 - 2021 Annual Rate Area State NationalPopulation 1.22% 1.43% 0.84%Households 1.11% 1.30% 0.79%Families 1.06% 1.28% 0.72%Owner HHs 0.87% 1.29% 0.73%Median Household Income 0.47% 2.14% 1.89%
2016 2021 Households by Income Number Percent Number Percent
<$15,000 23,949 17.0% 25,614 17.2%$15,000 - $24,999 20,729 14.7% 21,074 14.1%$25,000 - $34,999 20,053 14.2% 22,971 15.4%$35,000 - $49,999 23,313 16.5% 15,881 10.7%$50,000 - $74,999 25,603 18.2% 30,309 20.3%$75,000 - $99,999 13,691 9.7% 15,769 10.6%$100,000 - $149,999 9,652 6.8% 12,096 8.1%$150,000 - $199,999 2,495 1.8% 3,515 2.4%$200,000+ 1,466 1.0% 1,713 1.2%
Median Household Income $37,785 $38,678Average Household Income $49,924 $54,007Per Capita Income $16,018 $17,141
Census 2010 2016 2021 Population by Age Number Percent Number Percent Number Percent
0 - 4 38,440 8.9% 39,278 8.5% 41,859 8.6%5 - 9 36,500 8.4% 36,633 8.0% 38,367 7.8%10 - 14 34,674 8.0% 35,087 7.6% 36,467 7.5%15 - 19 35,371 8.1% 33,889 7.4% 34,698 7.1%20 - 24 32,788 7.6% 37,161 8.1% 36,674 7.5%25 - 34 64,325 14.8% 70,848 15.4% 78,201 16.0%35 - 44 61,370 14.1% 60,896 13.2% 65,396 13.4%45 - 54 55,027 12.7% 55,864 12.1% 55,078 11.3%55 - 64 39,406 9.1% 45,286 9.8% 48,458 9.9%65 - 74 22,643 5.2% 29,499 6.4% 34,516 7.1%75 - 84 10,716 2.5% 12,654 2.7% 15,580 3.2%
85+ 2,904 0.7% 3,547 0.8% 4,096 0.8%Census 2010 2016 2021
Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 199,569 46.0% 198,471 43.1% 198,073 40.5%Black Alone 66,971 15.4% 74,688 16.2% 81,005 16.6%American Indian Alone 3,932 0.9% 4,092 0.9% 4,212 0.9%Asian Alone 20,828 4.8% 23,525 5.1% 26,745 5.5%Pacific Islander Alone 2,621 0.6% 2,814 0.6% 3,042 0.6%Some Other Race Alone 118,814 27.4% 133,050 28.9% 149,973 30.6%Two or More Races 21,430 4.9% 24,003 5.2% 26,337 5.4%
Hispanic Origin (Any Race) 227,827 52.5% 251,939 54.7% 277,503 56.7%Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 5 of 6
Demographic and Income Profile3901 E Lake Mead Blvd, Las Vegas, Nevada, 89115 Prepared by EsriRing: 5 mile radius Latitude: 36.19589
Longitude: -115.08884
AreaStateUSA
Trends 2016-2021Trends 2016-2021
Ann
ual R
ate
(in
perc
ent)
21.81.61.41.2
10.80.60.40.2
0Population Households Families Owner HHs Median HH Income
20162021
Population by AgePopulation by Age
Perc
ent
16
14
12
10
8
6
4
2
00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+
2016 Household Income 2016 Household Income
<$15K17.0%
$15K - $24K14.7%
$25K - $34K14.2%
$35K - $49K16.5%
$50K - $74K18.2%
$75K - $99K9.7%
$100K - $149K6.8%
$150K - $199K1.8%
$200K+1.0%
2016 Population by Race2016 Population by Race
Perc
ent
40
35
30
25
20
15
10
5
0White Black Am. Ind. Asian Pacific Other Two+
2016 Percent Hispanic Origin: 54.7%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.
January 19, 2017
©2016 Esri Page 6 of 6
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Fee ProPosal
For Sale: Sun Commercial Real Estate, Inc. (the “Broker”) proposes to Exclusively List For Sale the west of northwest corner of E. Lake Mead Boulevard and Walnut Road, APN# 140-19-204-017 in Las Vegas, Nevada (the “Property”), for a brokerage commission of Six Percent (6.0%) of the purchase price for services rendered. The said commission shall be due and payable through escrow, at the close thereof.
Miscellaneous: The provisions hereof are subject to the terms and provisions of any Listing, representation, or other agreement to which this Schedule may be attached.
0.76 Acres - e. LAke MeAd BouLevArd
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marketing Plan
Initial Review
The first step in marketing the 0.76 Acres of Vacant Land to the west of northeast corner of E. Lake Mead Boulevard and Walnut Road is to conduct a thorough review of the asset including the review of all available due diligence items shown on the attached Due Diligence Checklist.
Due Diligence
The Team will organize all of the Due Diligence materials available for the Property. The Due Diligence materials will include all such available items shown on the Checklist and other information pertinent to the Property. All of this information will be labeled, sorted, and stored in an electronic data vault that prospective buyers will be able to access after executing an approved Confidentially Agreement if required by Seller.
Marketing Materials
Packages: The Team will prepare a comprehensive offering memorandum. The memorandum will include the pertinent information for a prospective Buyer to make an initial evaluation of their interest in the Property. If interested, we would require the Buyer to execute a confidentiality agreement to get further rent roll and operating expense information, if applicable. Our offering memorandum will include a comprehensive review of the submarket and the Las Vegas economic conditions.
Marketing Flyers: The Team will also develop marketing eblast flyers which summarize and highlight the attributes of the property to generate interest. The flyers are emailed to prospective Buyers and the cooperating brokerage community.
Proprietary Database: The Team recommends marketing the Property through our extensive database of nearly 2,000 of the most active retail investors across the western United States. These Buyers include developers, private investors, 1031 exchange buyers, insurance companies, REITs, Opportunity Funds and more. We recommend initially marketing through our database for the first two weeks and then moving on to the other marketing venues listed below. This strategy creates a sense of urgency for the most active and likely buyers for this property. We also place personal phone calls to all investors that show an interest through this process.
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marketing Plan
Electronic Advertising
The Team will also market the Property in all of the electronic advertising media including: www.loopnet.com; the world’s largest most visited real estate Internet Website, receiving 160,000 hits per month, and the properties will be showcased for the highest visibility; www.propertyline.com; a local and national commercial property listing and marketing service; www.costar.com; the industry’s most comprehensive commercial database, representing 1.14 million properties and 5 billion SF of commercial space; www.xceligent.com; the nation’s leading provider of verified commercial real estate information; www.ccim.com; the most highly recognized and respected membership of investment brokers; www.crexi.com; the fastest growing interactive listing service; www.brevitas.com; the #1 “off market” listing service, properties are placed here before released to other services; www.propertycampaign.com; a database of 180,000 national and international active investors and brokers; www.suncommercialre.com; the company’s website showing all available listings that appears above the fold on Google.
Transaction Management: The Team will track, coordinate and otherwise manage all marketing activities including Property tours, Letters of Intent, negotiations, time sensitive circumstances and third party vendor obligations.
Reporting: The Team will work with the Seller to develop a preferred reporting format which will be submitted monthly. The marketing report will include all sales activities, prospects and status, action steps required, status of negotiated documents (Letters of Intent, Purchase Offers, etc.) and other activities related to the marketing efforts. This report will also summarize planned activities on a forward looking basis.
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lanD listing Due Diligence checklist
I. Assessor’s Information A. Parcel Number B. Property Address C. Lot Size D. Ownership Entity E. Tax Information (Previous Tax Bills) F. Ownership History G. Zoning per Assessor Website H. Neighboring Parcel Ownership/Zoning I. Assessor’s Website Aerials/Maps
II. Title Reports A. Previous Title Reports (will indicate if a survey was recorded) B. Order a Title Report if over a year old. C. Legal Description
III. Surveys A. ALTA B. Metes and Bounds
IV. Zoning A. Copy of the Zoning B. Uses Permitted for that Zoning C. Land Use Plan/General Plan D. Proposed Plans for the Area E. Applications for Change of Use
V. Environmental Review A. Phase I B. Soils Report C. Engineering Reports
VI. Financing A. Copy of the Note(s)
VII. General Market Data of Surrounding Area A. Sale Comps B. Lease Comps C. Other Competitive Listings D. Traffic Studies E. Demographic Reports
VIII. Photos A. Property B. Aerials C. Surrounding Areas