Las Vegas Sun

December 5, 2009

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LV shopping center sold at auction

Wednesday, Nov. 17, 1999 | 10:53 a.m.

The Nellis Trails Shopping Center was sold for $4.7 million at a Las Vegas auction this week.

Approximately a dozen qualified bidders, each with a certified check of $400,000, participated in the 30-minute auction. The winning bid came from a California investor who declined to be identified.

Located at 729-789 Nellis Boulevard, the 85,385-square-foot property is currently 38 percent leased. The shopping center's net operating income will be about $300,000 this year; the largest tenant is a Big O Tire store. However, the property's two anchor spaces are currently unoccupied.

Built in 1985, the center is zoned as a limited commercial district offering 465 feet of frontage on the west side of Nellis Boulevard and 325 feet of frontage on the south side of Harris Avenue.

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