Mesquite Nevada Commercial Real Estate Developments
Mesquite Nevada Commercial Blog
There are 30 commercial properties listed locally for sale in Mesquite Nevada MLS, including 12 buildings that are active for sale today. 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.
All rights reserved. Material from this site may not be republished without the expressed, written permission of Mesquite Market .com
Chris W. Miller