Multi-tenant Outparcel of Lowe’s Retail Center for …...Multi-tenant Outparcel of Lowe’s Retail...

J DAPPER 702.755.1790 | [email protected] CATALANO 702.378.1375 | [email protected] 1

Multi-tenant Outparcel of Lowe’s Retail Center for Sale

PRICE: $4,380,720.002877 E CHARLESTON BLVD. LAS VEGAS, NV 89104


table of contents

Investment highlights 3

Lease summary 4

Photos 5

Rent roll 6

Property aerial 7

Tenant overview 8-11

Location overview 12

Market & area overview 13

offering memorandumMULTI-TENANT NNN LEASES (FEE SIMPLE)

2877 E CHARLESTON BLVD., LAS VEGAS, NV 89104


PROPERTY OVERVIEW

This offering includes a 7,985 square foot multi-Tenant net leased retail investment at 100% occupancy located in Las Vegas, Nevada. Tenants include: 7-Eleven, Dotty’s Tavern, Dollar Loan Center and Watermill Express. This building sits on approximately 0.75 acres and is an outparcel of Lowes. All four Tenants have been in place for over 5 years with each servicing the surrounding households within the eastern Las Vegas corridor. This property is perfectly positioned on Charleston Blvd. and is surrounded by residential. Minimum management responsibilities and the quality and stability of all Tenants in place, make this an attractive investment property.

TENANT INFO

STABLE INCOME – EASE OF MANAGEMENT

– Stabilized Asset – Attractive Rental Increases – Minimal Management Responsibilities – Ease of Management – Free Standing and Multi-Tenant Retail Building

EXCELLENT RETAIL LOCATIONS – STRONG DEMOGRAPHICS

– Gateway to Downtown Las Vegas – Excellent Visibility on Charleston Boulevard – Surrounding Retailers Include: Lowe’s Home Improvement, Chase Bank,

Family Dollar, Boost Mobile, and many more!

PERFECT 1031 EXCHANGE PROPERTY

– No Existing Financing in Place – Pride of Ownership – Long Term Tenants in Place – Rental Increases

– Effective Inflation Hedge – Strong Retail Location Surrounded by Residential – Rare Opportunity to Acquire a Quality Multi-Tenant Net Leased

Investment in Las Vegas, Nevada.

investment highlightsMULTI-TENANT NNN LEASES (FEE SIMPLE)



PROPERTY SUMMARY — INLINE

Tenant Trade Names:

Occupancy: 100%

Number of Tenants: 4

Building Size: 7,985 SF

Land Size: 0.75 Acres

Market/Submarket: East Las Vegas

Parcel Number: 162-01-102-007

Price: $4,380,720.00

Current NOI: $262,843.20

Cap Rate: 6%

Construction Year: 2009

Lease Type: Multi-Tenant NNN Asset

property summaryMULTI-TENANT NNN LEASES (FEE SIMPLE)



inline photosMULTI-TENANT NNN LEASES (FEE SIMPLE)



TENANT SUITE SQUARE FOOTAGE

% PROJECT

RENT START

END DATE

LEASE TERM

% INCREASE

ANNUAL RENT MONTHLY RENT ANNUAL

RENT PSFMONTHLY RENT PSF

OPTIONS TO RENEW

A 2,645 33.125% 04/01/09 03/31/24 180 Months 15% Every 5 Years $91,252.44 $7,604.37 $34.50 $2.87 3 Five Year

Options

B & C 3,520 44.083% 05/01/10 05/31/20 120 Months 2% Annually $118,875.24 $9,906.27 $33.77 $2.81 4 Five Year

Options

D 1,820 22.793% 08/18/13 08/31/23 60 Months

3% Annually $44,315.52 $3,692.96 $24.35 $2.03 1 Five Year

Options

0% 05/06/11 05/05/21 60 Months

$100 Every 5 Years $8,400.00 $700.00 — — 1 Five Year

Options

TOTAL SQUARE FOOTAGE: 7,985 100% NOI:

$262,843.20 $21,903.60

rent rollMULTI-TENANT NNN LEASES (FEE SIMPLE)



N 28TH

STREET

SITE

CHARLESTON BLVDCHARLESTON BLVD

FREMONT ST

property aerialMULTI-TENANT NNN LEASES (FEE SIMPLE)



7-Eleven is a Japanese-owned American international chain of retail convenience stores, headquartered in Irving, Texas. Founded in 1927, 91 years ago, 7-Eleven has become a staple in almost every U.S. City. They are known for the Slurpee and Big Gulp beverages along with offering other items such as coffee, candy, prepared foods, dairy and in some locations gasoline. As of January 2018, 7-Eleven operates, franchises and licenses over 64,319 stores in 18 countries.

tenant overviewMULTI-TENANT NNN LEASES (FEE SIMPLE)



Dotty’s is a privately held gaming tavern operation that now has approximately 175 locations in Nevada, Oregon and Montana, with another 150 locations planned in Illinois. Dotty’s is known for focusing mainly on gaming and caters mostly to women aged 35 and older. They are also known for selling discounted cigarettes along with providing alcoholic beverages to their customers. With over 300,000 customers in its player database, Dotty’s is viewed as one of Nevada’s most successful gaming tavern operations.




Dollar Loan Center has over 80 locations throughout California, Nevada, South Dakota and Utah. Their signature & title loan locations are like none other in the industry and are set up to make your experience fast, easy and comfortable. Their product has superior terms over payday loan companies, giving customers several benefits and finance options. Dollar Loan Center offers a unique alternative to payday loans getting you up to $2,500 fast to solve any immediate financial problem. Established in 1998, Dollar Loan Center is the leading provider of signature loans and car title loans in the industry.




Watermill Express is the nation’s largest drive-up pure drinking water and ice company. Founded in 1984 in Brighton, Colorado, the company serves customers daily at 1,300 locations. Watermill Express customers supply their own containers and purchase water for an average of 25 cents per gallon. Watermill Express is an environmentally friendly alternative to pre-packaged water. By promoting reusable containers, the company prevents the waste of millions of single-use water bottles each year. Since inception, Watermill Express customers have saved over 500,000,000 1-gallon single-use water bottles from our nation’s landfills. Watermill Express is the original creator of the drive-up concept over 20 years ago and offers 100% Freshness Guarantee.




LOCATION OVERVIEW

This stabilized multi-Tenant Net Leased Investment is located in the east Las Vegas submarket and is perfectly positioned on Charleston Blvd. as an outparcel of Lowe’s. Within a 3 mile radius, the population exceeds 240,000 people which is steadily trending upwards in the upcoming years. Just east of Fremont Street, This property enjoys high traffic on east Charleston and is just minutes away from Downtown Las Vegas, The Las Vegas Strip, U.S. 95 and I-15 freeways.

POPULATION 1-MILE 3-MILE 5-MILE

Estimated Population (2017) 30,650 244,679 568,350

Projected Population (2022) 34,413 272,256 634,233

Historical Annual Growth 2010-2017 4,307 2.3% 25,249 1.6% 56,192 1.6%

Projected Annual Growth 2017-2022 3,763 2.5% 27,577 2.3% 65,883 2.3%

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

Estimated Households (2017) 11,128 82,758 119,207

Projected Households (2022) 11,974 88,944 214,368

Historical Annual Change 2000-2017 228 0.1% 3,874 0.3% 21,385 0.7%

Projected Annual Growth 2017-2022 846 1.5% 6,186 1.5% 15,161 1.5%

INCOME 1-MILE 3-MILE 5-MILE

Avg. Household Income 2017 $29,227 $44,868 $48,700

Median Household Income 2017 $26,782 $36,684 $42,028

DAYTIME DEMOS 1-MILE 3-MILE 5-MILE

Total # of Businesses 2017 957 9,758 23,248

Total # of Employees 2017 9,128 126,861 372,525

Employee Pop per Business 9.5 to 1 13.0 to 1 16.0 to 1

Residential Pop per Business 32.0 to 1 25.1 to 1 24.4 to 1

location overviewMULTI-TENANT NNN LEASES (FEE SIMPLE)



Las Vegas is the most populous city in the U.S. state of Nevada and the county seat of Clark County. Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, and fine dining and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its consolidated casino–hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 31st-most populous city in the United States, with a population at the 2014 census of 583,756. The 2014 population of the Las Vegas metropolitan area was 2,027,868. Today, Las Vegas is one of the top tourist destinations in the world.

Established in 1905, Las Vegas was incorporated as a city in 1911. Las Vegas often refers to the city plus some areas beyond the city limits, especially the resort areas on and near the Las Vegas Strip, and sometimes the entire Las Vegas Valley. The 4.2 mi (6.8 km) stretch of South Las Vegas Boulevard known as the Strip is mainly in the unincorporated communities of Paradise, Winchester, and Enterprise. Las Vegas is situated within Clark County in an arid basin on the desert floor, surrounded by dry mountains. The Spring Mountains lie to the west. Within the city there are many lawns, trees, and other greenery. The city enjoys abundant sunshine year-round: it has an average of about 300 sunny days per year.

The primary drivers of the Las Vegas economy are tourism, gaming and conventions, which in turn feed the retail and restaurant Industries. In the second quarter of 2012, something new was on the horizon for Downtown Las Vegas. Tony Hsieh, CEO of Zappos, purchased the former City Hall building, thus turning that property into Zappos corporate headquarters in Downtown Las Vegas. Since then Mr. Hsieh has put in a lot of money and effort revitalizing Downtown Las Vegas which is known as the Downtown Project. This recent project has transformed Downtown, bringing new restaurants, retail, tech buildings, annual, monthly and weekly events and a large park made out of shipping containers (Container Park) which has an outdoor hangout space that offers shopping, restaurants and a small outdoor concert venue. The Downtown project has changed Downtown Las Vegas and has increased the number of local and out of town visitors to the many events, restaurants and retail shops this area has to offer.

IN 2014, MORE THAN 41 MILLION PEOPLE VISITED LAS VEGAS

area profileMULTI-TENANT NNN LEASES (FEE SIMPLE)


Multi-tenant Outparcel of Lowe’s Retail Center for …...Multi-tenant Outparcel of Lowe’s Retail...

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