North Las Vegas, NV - Rally's
$4,705,000
4360 West Craig Road, North Las Vegas, NV 89032
6.25
Cap Rate
294,047
NOI
Details:
Description:
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Rally’s investment property located in North Las Vegas, Nevada. The tenant, LV Food Service Concept LLC, recently signed a brand new 20-year lease with 2 (10-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The project is under construction and estimated completion by mid July with opening to the public by August. All equipment located on the property is included in the sale, providing the potential for bonus depreciation (consult a tax advisor).
Rally’s is located near the signalized, hard corner intersection of W Craig Road and Valley Drive, which combine to average more than 47,900 vehicles passing by daily. W Craig Road is a major retail thoroughfare serving the city of North Las Vegas. The asset is part of a new development that will feature tenants such as Conoco Gas Station, Bojangles, Black Bear Diner, Charleys Cheesesteaks, and more. In addition, the subject property is near North Mesa Plaza, a Walmart Supercenter anchored center with other national and credit tenants including Harbor Freight, Ross, Hibbett, Old Navy, Dave’s Hot Chicken, Applebee’s, and many others. The property is centrally located within a primary retail corridor and is surrounded by prominent national and credit tenants including The Home Depot, PetSmart, Albertsons, Smith’s, EoS Fitness, Planet Fitness, Chipotle, Chick fil A, Starbucks, McDonald’s, and others, driving strong consumer traffic to the site. The 5-mile trade area is supported by a population of over 457,000 residents and 102,000 employees with an average household income of $100,664.
Location
Gallery
