Las Vegas, NV - 7-Eleven (Rainbow)

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, investment grade (S&P: A), 7-Eleven investment property located in Las Vegas, Nevada. The tenant, 7-Eleven, Inc., recently signed a new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: A) and is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. 7-Eleven is an established and recognized brand that franchises and/or licenses more than 70,000 stores in 17 countries, including 11,981 in North America. The building was recenetly constructed and will feature a state-of-the-art design with high quality materials used.

The subject property is strategically located at the signalized, hard corner intersection of W Ann Road and N Rainbow Boulevard, averaging a combined 42,500 vehicles passing by daily. The property features a 7-Eleven branded convenience store with an 8-pump gas station that is situated near the directional interchange of U.S. Highway 95 (135,000 VPD) and W Ann Road (35,300 VPD). Additionally, the site is located within close proximity to major retail centers such as Rio Vista Plaza (118,135 SF), Centennial Gateway (193,069 SF), and Centennial Center (334,042 SF), significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. Located within a immense retail corridor, the asset is surrounded by a variety of national/credit tenants including Walmart Supercenter, The Home Depot, Sam’s Club, Target, Big Lots, Ross Dress for Less, Walgreens, and more, further increasing consumer traffic to the trade area. Moreover, the site is nearby to multiple apartment complexes such as The Paisley & Pointe at Centennial Hills (312 units) and Vue at Centennial (372 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by more than 375,475 residents and 72,881 daytime employees with a healthy average household income of $92,895.