Las Vegas, NV - Conoco (Jones Blvd)

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, newly-constructed Conoco investment property located in Las Vegas, Nevada. The tenant, LV Petroleum, LLC, recently signed a brand new 20-year lease with 4 (20-year) options to extend, demonstrating their commitment to the site. The lease features annual 3% rental increases throughout the initial term, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Conoco is an established gas station chain with over 6,100 locations. LV Petroleum, LLC is an experienced developer and operator of convenience stores and gas stations in Nevada and Arizona (see page 22 for details). Seller financing available (see Page 20).

The subject property is strategically located along S. Jones Blvd., which averages 20,000 vehicles passing by daily, and benefits from nearby direct on off ramp access to Clark County Rte. 215, a major thoroughfare serving 200,000 vehicles per day. The site features excellent visibility and significant street frontage. Furthermore, the asset is ideally situated near a dense retail corridor featuring numerous national/credit tenants including Walmart Supercenter, The Home Depot, Sprouts, Walgreens, Smith’s, Ross Dress for Less, Albertsons, Starbucks, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. In addition, the site benefits from quick and easy access to the world-famous Las Vegas strip, as well as Harry Reid International Airport. The 5-mile trade area is supported by more than 363,000 residents and 291,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an affluent average household income of $107,253.