Las Vegas, NV - Ross Dress for Less
$6,814,000
2420 E Desert Inn Road, Las Vegas, NV 89121
6
Cap Rate
408,867
NOI
Details:
Description:
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Ross Dress for Less investment property located in Las Vegas, Nevada. The tenant, Ross, has operated at this location for over 40 years and has 3 years of remaining term with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. Ross performs well at this location with a healthy rent-to-sales ratio of about 4.3%. Additionally, the building’s roof was replaced in August 2024 (membrane has a 20-year manufactured warranty) and approximately 64% of the buildings cooling capacity was replaced in 2025, further demonstrating Ross’ investment in this location.
The subject property is located at the signalized, hard corner intersection of E Desert Inn Rd and S Eastern Ave which combined average over 81,000 vehicles passing by daily. E Desert Inn Rd is a major retail thoroughfare serving the city of Las Vegas. The Ross is a part of Francisco Center, which ranks in the 92nd percentile nationwide for annual visits with over 3 million annual visits and includes tenants such as a La Bonita Supermarket, Five Below, dd’s Discounts, Starbucks, UPS, and more. The asset is located less than 2 miles from the Las Vegas Convention Center, one of the largest convention centers in the world. The property is located in a dense retail corridor with other national/credit tenants including Smith’s, Albertsons, McDonald’s, Panda Express, Wendy’s, Applebee’s, and more. Additionally, the site is located approximately 1 mile from Sunrise Hospital (834 beds). The subject property is located less than a mile from Valley High School which has a student population of over 2,400. The 5-mile trade area is supported by a population of over 498,400 residents and 391,100 employees with an average household income of $73,477.
Location
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