Mesquite Nevada Commercial Real Estate Developments
Mesquite Nevada Commercial building permits: 8 new commercial building permits were issued in the first half of 2009, they continue to build and the supply side swells!
As layoffs increase and business closures mount, residential construction has completely stalled. The impending collapse in sales 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! Mesquite MLS has recorded no commercial property closings in 2009, land or buildings.
There are 32 commercial properties listed locally for sale in Mesquite Nevada, including 17 buildings that are active for sale today.
Mesquite Nevada Commercial Listings
Many more are available, listed with non Mesquite MLS agencies from out of town.
Vacancy rates for office/retail/light industrial warehouse space have sky rocketed, currently it appears there is well over 250,000 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.
The real values are coming, with cash flow numbers that actually work!
The de-leveraging process is bringing down the value of assets of every class around the world. Opening doors in Mesquite to what is virtually a guaranteed bright, high demand future. Fundamentals like cash flow analysis, reasonable rents, and realistic vacancy expectations will likely set future prices.
It will be the margin call type commercial properties that will create the deals. A seller with no cash flow and notes due now, will be forced to sell at greatly reduced prices, below replacement cost. Banks will make concessions. It is a very difficult process and golden opportunity for those with knowledge and cash.
I am available to work as your commercial buyer's agent and watch this market for those exceptional values.
As the inventory grows, so are vacancy rates, creating clear signs of a very large speculative bubble in the office/retail/warehouse space. This will affect prices and rental rates.
Industrial warehouse space has been growing rapidly, prices are way out of line with returns. Due primarily to the City of Mesquite's development of the new industrial area. This market segment should be very interesting to watch in coming months and years.
The amount of vacant space including retail, office, and industrial has exploded. There is vacant space in literally every shopping center, strip mall, and multi unit office building in town.
Mesquite Nevada commercial real estate has grown based on a very short history. Just a few short years ago the north side of Mesquite was virtually non existent, except for the industrial area and the airport. At that time it was home to Primex and that was about it.
As a result of; the elected land promoters, the Palm Springs sales pitch, some very optimistic and expensive studies, the city administration working in the land development business, and the speculative boom that took place, There are a few thousand vacant home sites north of I-15, and enough commercially zoned property to serve the city for many years to come.
The older Mesquite NV commercial properties are still around, the main drag, Mesquite Blvd is lined with the older existing commercial buildings. Many are sitting empty, some looking neglected.
Opportunities are being created for those with the foresight, time and money to see the future growth. Distress and vacancy, from todays investor point of view may be the best of all worlds. The time to make a deal is nearing for those with the ability. Not based on last years numbers or even current NOI numbers, but rather, based on where Mesquite is going over the next ten years.
Have questions about commercial property? There are numerous land parcels and buildings available but not actively listed. Contact me, I have extensive market knowledge and will provide you that information.
Call Chris W. Miller GRI, CRS, ABR at ERA Brokers Consolidated 702-346-7200 or 435-862-5951
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