Las Vegas, NV - Bojangles

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN leased, Bojangles investment property located in Las Vegas, Nevada. The tenant recently signed a brand new 20-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 variable increases 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 Bojangles is located at the signalized, hard corner intersection of Blue Diamond Rd and S Rainbow Blvd, combining to average over 74,800 vehicles passing by daily. Blue Diamond Rd is a major retail thoroughfare serving the city of Las Vegas. The property is part of Diamond Plaza, a newly developed shopping center that features several strong local tenants and a Dash Car Wash. The site is located approximately 6 miles from the world-famous Las Vegas Strip. The asset is adjacent to a 160,000+ square foot Walmart Supercenter, which features a McDonald’s outparcel. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Albertson’s, Tractor Supply Co, Ross, Planet Fitness, Starbucks, Chase Bank, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 276,100 with an average household income of $124,624.