Stewart Square

Stewart Square

Property Description

Adelphi Property Advisors presents the opportunity to purchase the fee simple interest in Stewart Square (the ‘Property’), a 39,600 SF shopping center located in the Las Vegas MSA. Stewart Square is currently 73% occupied and is a rare value add purchase, offering immediate upside by leasing the vacant units. Stewart Square sits on 3.58 acres of land, the larger parcel will give an owner an opportunity to add a drive-thru pad. Stewart Square is being offered at $164 PSF, significantly below replacement cost. The Property was significantly remodeled in 2008.

Stewart Square is located immediately off the US-95/ Eastern Ave freeway exit, which 138,000 vehicles travel US-95 daily. Over 43,000 vehicles pass Stewart Square daily, giving the Property significant exposure on one of the busiest thoroughfares in the Las Vegas MSA. Over 33,000 residents live within a 1-Mile radius, constantly bringing visitors to the Property. A total of 11 of the 18 existing tenants have occupied the Property since 2014 or prior, which shows an established track record of the existing tenancy. The majority of spaces are either 1,200 SF or 2,400 SF, the smaller sizes will protect an owner from losing a large tenant and experiencing high vacancy.

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