MESQUITE NEVADA COMMERCIAL real estate

Mesquite NV Commercial Real Estate Market

Mesquite Nevada Commercial Real Estate Developments

Mesquite Nevada Commercial building permits: 13 new commercial building permits were issued in 2009, they continue to build and the supply side swells! The City of Mesquite issued 4 new commercial building permits in the first quarter of 2010.

As layoffs increase and business closures mount, residential construction has almost completely stalled. The impending collapse in commercial real estate prices and rents seems all to clear.

The commercial property value crash which is looming may make the residential mess in Mesquite look like a walk in the park! There are four vacant restaurant properties including Denny's, Playoffs, Rio Virgin Grill, and Buffalos, all have closed in the last eighteen months. Two lumber yard/hardware stores have closed and are now or will be shortly vacant.

Mesquite MLS has recorded two commercial land closed transactions in 2009, one sold the City of Mesquite and the other was a quarter acre that sold for $8 per square foot,(it had three older homes on it). There have no commercial sales recorded year to date in 2010 in Mesquite's MLS.

Mesquite Nevada Commercial Blog

The only real way to value this property is to use a capitalization rate since there are no sold comps. Few are actual triple net leases so the ROI becomes more compilicated and needs to be evaluated on a case by case basis.

Many building owners with vacant space (which is virtually every commercial building complex in Mesquite) are beginning to offer tenant improvements free, some months free, CAMs paid, taxes paid, insurance paid, etc. With competitive rents falling actual nets may be as low as .50 cents a square foot for many owners. At that rate the average asking price for the current listings, using an 8% cap rate is at least double, even triple the real value.

Mesquite Nevada Commercial Listings

Many more properties are available, but not listed. I can help fill in the picture for you.

Vacancy rates for office/retail/light industrial warehouse space have sky rocketed, currently it appears there is as much as 300,000 square feet of vacant space. The prices for all are headed south at an unprecedented pace.

Mesquite Nevada MLS reports 2 commercial building sales total for 2008. The City of Mesquite bought one of them. Only 3 buildings sold and closed through the Mesquite Nevada MLS in 2007.

Ross: Commercial Real Estate Crash Is Here

· Independence Realty

· 8275 S. Eastern Ave. #200

· Las Vegas, Nevada 89123

· **702*-525-0585 Office***

· **435*-862-5951 Cell***

· **702*-361-2547 Fax***

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