PAIR-A-DICE MOBILE HOME PARK
PAIR-A-DICE MOBILE HOME PARK
VAL U E ADD I N VE S TME N T OPPO RT UNIT Y
THE OPPORTUNITY ? paIr-a-dice mobile home park ? 137 Units
HIGHLIGHTS
Sale Price Price/Pad Pads Avg SF Net Rentable Area Cap Rate Acreage Year Built Avg Rent Zoning Proforma Gross Proforma NOI Current OCC Proforma OCC APN
$5,450,000 $39,781 137 1,524 SF
208,775 SF 6.61% 8.77 1956 $425
R - A/ C R $695,925 $360,324
83% 90% 139 - 23 - 201 - 017
PAIR-A-DICE MOBILE HOME PARK
2067 N. Las Vegas Blvd, North Las Vegas, NV 89030
PROPERTY OVERVIEW
The Pair-A-Dice living community consists of a 137 space mobile home park averaging 250sf. The Property has street frontage on the west side of Las Vegas Blvd, as well as street frontage on the east side of Donna Street. The property includes a 900 square feet maintenance/laundry facility along with a 150 square feet storage shed.
This property is located in the North Las Vegas downtown re-development area. Pair-a-Dice mobile home park is located in North Las Vegas on North Las Vegas Boulevard, a major north to south arterial throughout the Las Vegas area. It also has quick convenient access to Interstate 15. It is across the4street from retail shopping centers consisting of a supermarket, post office, banks, and restaurants. Downtown Las Vegas is a short 2.5 miles away with entertainment, restaurants, and shopping. It is also blocks away from North Las Vegas City Hall Hospital and the police department.
UNIT MIX
UNIT TYPE
PADS
1x1
137
APPROXIMATE SPACE SIZES
SPACE SIZE
25? x 50? 20? x 40? 25? x 70? 25? x 40? 25? x 30? 25? x 75? 35? x 75?
# OF SPACES
51 33 24 2 4 13 10 137
SIZE
PROFORMA RENT PROFORMA RENT / SF
250
$425
$1.70
APPROX. TOTAL SF
63,750 26,400 42,000 2,000 18,000 24,375 26,250 208,775
AVG SF
1,250 800 1,750 1,000 4,500 1,875 2,625 1,460
MULTIFAMILY INVESTMENT ?
EXTERIOR PICTURES ? paIr-a-dice mobile home park ? 137 Units MULTIFAMILY INVESTMENT ?
downtown las vegas
95
silver nugget casino
NORTH LAS VEGAS CITY HALL
CASHMAN CENTER
las vegas blvd.
LOCATION OVERVIEW ? paIr-a-dice mobile home park ? 137 Units
las vegas strip
world market center
las vega
s blvd.
jerry?s
nugget casino
15
MARTINEZ ELEMENTARY school
pair-a-dice
FUTURE maya entertainment center
N. 5TH ST.
QUANNAH MCCALL ELEMENTARY SCHOOL
E. CAREY AVE.
SMITHS
jim bridger middle school
PETITTI PARK
MULTIFAMILY INVESTMENT ?
value add ? paIr-a-dice mobile home park ? 137 Units
MAYA ENTERTAINMENT CENTER
CONSTRUCTION STARTS ON MOVIE THEATER COMPLEX IN NORTH LAS VEGAS
By Art Marroquin Las Vegas Review-Journal
Construction started Monday on a 14-screen movie theater in North Las Vegas, showcasing one of the first visible steps toward redeveloping the economically depressed downtown area. The $75 million Maya Entertainment Center is expected to cater to the city's burgeoning Latino population and preview what's to come for one of the city's oldest neighborhoods. "We want to bring some of Hollywood to North Las Vegas," Maya Cinemas North America Vice President Larry Porricelli said.
The two-story theater, spanning 65,000 square feet, will rise from a dirt lot across the street from North Las Vegas City Hall and the Silver Nugget, set to open by Christmas in 2018. Design and financial challenges sent costs soaring higher than first expected, prompting developers to delay construction of some shops and restaurants at the commercial until 2019 at the earliest, Maya Cinemas President and Chief Operating Officer Frank Haffar said.
Despite the setback, city officials said they're confident that Maya Cinemas' arrival will draw other shops, restaurants and housing that could transform the downtown area into a vibrant urban core tentatively known as Lake Mead Village West. Just blocks from the movie theater, city officials are spending a $1.2 million federal community block grant to start converting the shuttered Canyon Electric Building at 1936 White Street into a two-story library with 7,000 square feet of space.
A museum or gathering space is planned for Washington Continuation School, which the city purchased last year for $260,000. Studies are underway for a new transit station on Fifth Street. A park spanning six to eight blocks would connect each of those areas.
"This project is a great catalyst for the revitalization we want to do, so we are extremely enthusiastic and excited about what this will do for the confidence level of all the plans and ideas we've been talking about behind the scenes," said Gina Gavan, economic and business development director for North Las Vegas. "There can always be a lot of talk," Gavan said. "But we're making sure that these projects are thoughtful and meaningful."
North Las Vegas has long struggled to jump-start its downtown. Developers last decade sought to convert the Maya Cinemas site into a 350,000-square-foot retail complex known as Las Flores. After several stalls in construction, the plan failed and Dallas-based Sarofim Realty put the land up for sale.
Maya Cinemas, led by movie director Moctesuma Esparza, spent $7.1 million to buy the land in February, beating out a developer who wanted to build a minor-league soccer stadium across the street from City Hall.
pair-a-dice
Esparza, a Mexican-American activist-turned-movie producer best known for his work on "Selena," said his four Maya Cinemas theaters have helped spur economic activity in cities with large Latino populations. "We know it will happen here, too," Esparza said of the company's venture into North Las Vegas, its first outside of California.
maya entertainment center
With a 38.8 percent Latino population, North Las Vegas could potentially see additional Latinoowned businesses spring up as downtown redevelopment progresses, Councilman Isaac Barron said. "It reflects the fact that this area isn't just seeing an influx of Latino residents, but Latino money," said Barron, whose Ward 1 includes downtown. "Private industry is seeing the real-life potential of the Latino dollars and the influence of Latinos in this area."
MULTIFAMILY INVESTMENT ?
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