Overview

Description

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, SafeNest investment property located in Las Vegas, Nevada. The tenant, SafeNest, has over 4 years remaining in their first option with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features 3% annual rental increases throughout the initial term and option period, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to roof, structure, and HVAC making it an ideal, low-management investment opportunity for a passive investor. SafeNest has been at the forefront of ending domestic and sexual violence in Southern Nevada for 44 years and is the largest non-profit in the state.

The SafeNest is located near the signalized, hard corner intersection of Meadows Ln. and S. Valley View Blvd. with a combined (60,400 VPD). The site benefits from nearby direct on/off ramp access to U.S. Hwy 95, a major thoroughfare averaging 252,000 vehicles per day. The asset is located in an immense retail corridor that includes Meadows Mall, a 960,000+ SF regional mall anchored by Macy’s, Express, Dillards, Foot Locker, Tilly’s and many more. Other nearby national/credit tenants include Walgreens, McDonald’s, Starbucks, Taco Bell, 7-Eleven, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is within close proximity Western High School (2,793 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 489,000 residents and 412,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property have an average household income of $68,202.

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