Former Bank Retail / Office

Office for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30671898
Property Subtypes: Office Building
Status: Pending
Building Size (RSF): 6,773 SF
Gross Land Area: 8,059 SF
Sale Price: $430,000
Unit Price: $63.49 PSF
Ceiling: 8 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Former Bank Building
Class of Space: Class B
Usable Size (USF): 6,773 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/18/2021

Overview / Comments

The property site is improved with a one-story plus finished-out basement branch bank building. Construction is brick frame with pained concrete panels and a flat roof system. The first floor contains about 3,906 square feet and there is finished-out basement. The first floor is subdivided into a vestibule, bank teller’s area and vault, customer waiting area, 3 offices, a conference room, with a wet bar and 3 restrooms. The basement is accessible from 2 sets of interior stairs and is subdivided into 3 offices, a conference room, an IT room and office, an employee’s break room/kitchen, (2) restrooms, an unfinished storage area and mechanical area and (3) storage rooms. The property is of good quality construction and is in good overall condition.

The back half of the site is paved parking.

There is a 2 year restriction for financial institution use.

Additional Details

Nearest MSA: Las Vegas
County: San Miguel
Submarket Type: Historic District
Taxing Authority: Sam Miguel County
Tax ID/APN: 1-095-093-149-051
Zoning: C-2, CBD
Property Visibility: Excellent
Highway Access: I-25 via Grand Ave.
Airports: Las Vegas
Site Description: The property is located at the southwest corner of the Douglas Avenue and 7th Street. The site is 0.185-acres (8,059 SF) and is rectangular in shape with level topography and adequate drainage.
Area Description: The property is located within downtown Las Vegas, approximately twelve blocks southeast of the historic plaza area established in 1835. Some of the older buildings within the city are located within this area including the Southwest Capital Bank building (originally the Bank of Las Vegas) which was established in 1890. At one time there was a tunnel underneath the intersection of 7th Street and Douglas Avenue between the Southwest Capital Bank building and the site where thet building is located. Surrounding improvements include retail stores which share common walls, restaurants and freestanding offices. Residential improvements and a park are located south of the property. New Mexico Highlands University campus is two to three blocks west of the subject.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,906 SF
Year Built: 1985
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: the building has a brick exterior on the front and one side, a common wall with an adjacent building and painted concrete veneer on the rear of the building.
Parking Type: Surface, Other
Parking Description: Surface parking is on the rear half of the lot. there is also unmetered street parking.
Total Parking Spaces: 12
Sprinklers: None
Heat Type: Electricity
Heat Source: Ceiling Units
Air Conditioning: Engineered System
Interior Description: The interior of the ground floor has commercial grade carpet, finished and painted walls, with some viynal coverings, good quality doors and interior glass partitions..
Zoning Description: C-2, CBD
Lot Frontage: 50.1
Lot Depth: 160.80
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Utilities
Easements Description: nominal - see survey
Land Ownership: Fee
Legal Description: Lots 23 & 24, block 11, Las Vegas Town Company Addition

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,951 13,552 16,096
Median Age: 37.43 39 38.56
Households: 2,045 5,402 6,555


Photograph of Listing Agent

Samuel H Carnes

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