Erik Sexton and Phillip Keuch at NAI Vegas are thrilled to announce the sale of Extended Space, a Mini Self-Storage property.
The self-storage units are located adjacent to the Palms Casino and centrally located to several residential and multi-family properties. The seller, Bader 15, LLC purchased the property when it was at 14% occupancy level. Badger 15, LLC underwent several renovations on the property and with aggressive marketing was able to create an occupancy retention of 90%, basically increasing the NOI (Net Operating Income) by more than 3 times what it was in the short period of 8 months. Located at 4065 W. Nevso Dr. in Las Vegas Nevada, the property also includes easy access to I-15, an added bonus to the buyer.
NAI Vegas was able to market the property, generate favorable terms for both parties in a few short months. Sexton and Keuch successfully negotiated a sale price of $2,550,000 for the 24,500 square foot self-storage building to the buyer, PKM Properties LLC as an income-generating property. The property was also highlighted as an M-1 Industrial zoned property overlaid with resort zoning creating the potential for redevelopment in the future.

NAI Vegas | Las Vegas Industrial Group

The Larkin Group at NAI Vegas are professional industrial investment advisors with experience in buying, selling, leasing, tenant representation and management in addition to site acquisition, new construction, and property management procurement.