Investor / Landlord Opportunity / Corp. Guaranteed / NNN Leased /10+ Yrs - SNT / 2.5% Annual increases to 3%

6610 South Fort Apache Road, Las Vegas, NV

   SOLD!   

$4,875,000

Price

5.3%

Cap Rate

$258,271.86

NOI

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Map
Overview
Cap Rate
5.3%
NOI
$258,271.86
Building Size
6,000 sqft
Lot Area
0.66 sqft
Occupancy
100%
Class
A
Lease Type
Triple Net
Price Per Sqft
$812
Zoning
Commercial. Restaurants and Cocktail Lounges
Parking Spots
45
Gross Leaseable Area
6000
Construction Status
Built
Parking Ratio
51
Investment Strategy
Core Plus
Lease Expire Year
6/1/2031
Description

6,000/SF Free standing Tavern on 0.66 acre lot providing ample parking.
Location Specific: Site APPROVED for 15 Slot Gaming License.
NNN Leased: Tenant shall be solely and directly responsible for all taxes, insurance, maintenance, repair, and replacements at the Property. Landlord responsible for structure.

Operated by Golden Gaming Entertainment, a diverse gaming company, with a dedication to quality guest experiences. PT’s Entertainment Group (PTEG), a division of Golden Entertainment, Inc. (NASDAQ: GDEN) is the largest traditional tavern gaming operator in Nevada.

Initial term Expires June 30, 2030 with (3) Three (5),five-year options to extend in Tenant's sole discretion. 2.5% Annual Rent Increases to 3% Annual increase commencing on 7/1/2025 and any Renewal Option Term(s).

Monthly Rent: $21,840.72 Annual Rent: $258,271.86

For complete information on the Tenant / Operator / Guarantor including holdings, operations and financial reports please see: http://www.goldenent.com/

Highlights
  • 2.5% annual increases / Increasing to 3% annual increases in July 2024
  • (NASDAQ:GDEN) Corp. Guaranteed Lease - Expires 2031 with (3) Three (5), five-year options to extend
  • Tenant shall be solely and directly responsible for all taxes, insurance, maintenance, repair, and replacements.
  • Valuable Privileged 15 Slot Gaming License runs with the property / No similar use within 2,500'
  • No income tax state
Documents
Title
PT_s_Pub_Gold_at_6610_S_Fort_Apache_-_4875_-8-15-19-sm.pdf
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