PRICE CAP Las Vegas, NV · 2018. 5. 8. · 5720 E. Charleston Blvd. Las Vegas, NV Absolute NNN...
Transcript of PRICE CAP Las Vegas, NV · 2018. 5. 8. · 5720 E. Charleston Blvd. Las Vegas, NV Absolute NNN...
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
Subject Property
For more information:
Mark J. [email protected]
5720 E. Charleston Blvd. Las Vegas, NV
Absolute NNN Ground Lease
E. Charleston Blvd.
Las Vegas, NV PRICE
$1,956,000 $CAP
5.00% %
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
INVESTMENT HIGHLIGHTS
5720 E. Charleston Blvd. Las Vegas, NV
Price: $1,956,000
CAP Rate: 5.00%
Rental Income: $97,800
Land Size: 0.92 AC
Total Building Size: 7,381 SF
Lease Term: Twenty (20) Years
Rent Commencement: March 1, 2012
Lease Type: NNN - Ground L e as e
Address: 5720 E . C har les ton Blvd.
Zoning: C-1
PROPERTY SUMMARY
• 20-Year NNN Corporate Ground Lease
• Tenant: AutoZone Development Corporation, Inc.
• Strong Corporate Guaranty - AutoZone, Inc. - S&P (BBB)
• (NYSE: AZO), a Fortune 500 Company
• 2012 Construction
• 409,840 Population within 5 Mile Radius
• 10% Increase Every 5 Years
• Three 5-Year Renewal Options
• High-Traffic Location at Hard Corner
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
Rental Income:
AutoZone, Inc. - $92,400
Water Mill Express, LLC - $5,400
Total: $97,800
Rental Increases: 10% Every 5 Years
Lease Term: 20 Years, 14 Years Remaining
Lease Type: NNN - Ground Lease
Renewal Options: 3, 5 Years Options to Renew
LeaseCommencement:
AutoZone, Inc. 03/01/2012
Water Mill Express, LLC 04/26/1999
Year Monthly Rent Annual Rent
Current 6-10 $7,700 $92,400
11-15 $8,470 $101,640
16-20 $9,317 $111,804
Extension 1 $10,248 $122,984
Extension 2 $11,273 $135,282
Extension 3 $12,400 $148,811
Year Monthly Rent Annual Rent
Current 04/26/14 - 04/25/19
$450 $5,400
04/26/19 - 04/25/24 $550 $6,600
04/26/24 - 04/24/29 $650 $7,800
LEASE SUMMARY RENT ROLL
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
TENANT PROFILEAutoZone, Inc.
As of May 6, 2017, AutoZone operates 5,915 auto parts locations, including 499 in Mexico, nine in Brazil and 26 Interamerican Motor Corporation (‘’IMC’’) branches. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. Many of their domestic AutoZone stores have commercial sales programs that provide commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company also has commercial programs in AutoZone stores in Mexico and Brazil. IMC branches carry an extensive line of original equipment quality import replacement parts. They also sell the ALLDATA brand automotive diagnostic and repair software through www.alldata.com and www.alldatadiy.com. Additionally, they sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and accessories, performance and replacement parts through www.autoanything.com, and our commercial customers can make purchases through www.autozonepro.com and www.imcparts.net.
Each of the Company’s AutoZoners is committed to the highest level of customer service - every store has AutoZoners equipped with the tools and knowledge necessary to provide the highest level of technical advice and diagnostic support to their customers. AutoZone’s website, www.AutoZone.com, can be used to order parts online or to look up parts in the customer’s local AutoZone store. The website is also a great resource for helpful maintenance and repair information. Through ALLDATA, the Company provides the most comprehensive electronic diagnostic and repair information available to professional mechanics either online, on CD or DVD.
The Company was founded in 1979 and has been publicly held since 1991. AutoZone stock trades on the New York Stock Exchange under the ticker symbol “AZO” and is included in the Standard & Poor’s 500 index. AutoZone is also recognized on the list of Fortune 500 companies.
Gross Margin:
Gross profit for fiscal 2016 was $5.609 billion, or 52.7% of net sales, compared with $5.327 billion, or 52.3% of net sales for fiscal 2015. The improvement in gross margin was attributable to lower acquisition costs, partially offset by higher supply chain costs associated with current year inventory initiatives (-18 basis points).
OVER $5.6 BILLION Gross Profit in 2016
S&P RATING (BBB)
A FORTUNE 500 COMPANYNYSE: AZO
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
TENANT PROFILEWatermill Express, LLC.
Watermill Express is the nation’s largest drive-up pure drinking water and ice company serving thousands of customers a day at numerous locations across the country.
Customers supply their own clean containers and drive up to the Watermill to purchase great-tasting water at a fraction of the price they would pay for bottled water.
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 our 100% Freshness Guarantee™: If their customers ever have a problem with the Company’s water, it will be replaced for free.
AVAILABLE IN 10 STATES Including California, Florida, Ohio, and Texas
1,200Corporate and Franchised Locations
FOUNDED IN 198434+ Years in Business
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
LOCATION OVERVIEW5720 E. Charleston Blvd. Las Vegas, NV
• Easy Access to US-95 Freeway• Surrounding 3 Mile Area Boasts over 225,000 Residents• Infill Investment Grade Investment Opportunity
Subject Property
E. Charleston Blvd.
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Northwest
North
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Subject Property
LAS VEGAS
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
KEY FACTS
32,904Population
31.9
Median Age
3.4
AverageHousehold Size
$51,029Median Household
Income
EDUCATION
23%
No HighSchool
Diploma 33%High School
Graduate
30%Some College 14%
Bachelor's/Grad/ProfDegree
BUSINESS
366Total Businesses
3,882Total Employees
EMPLOYMENT
46%White Collar
22%Blue Collar
32%Services
7.0%
UnemploymentRate
INCOME
$51,029Median Household
Income
$18,549Per Capita Income
$60,246Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (22.2%)The smallest group: $200,000+ (1.8%)
Value DifferenceIndicator<$15,000
$25,000 - $34,999$15,000 - $24,999
$50,000 - $74,999$35,000 - $49,999
$75,000 - $99,999$100,000 - $149,999
10.1%
$200,000+$150,000 - $199,999
11.4%9.9%
22.2%17.2%
13.4%10.3%
1.8%3.8%
-0.8%
00
+3.4%+2.2%
-2.1%+0.2%
-2.2%-0.7%
Bars show deviation from
Clark County
1 Mile Radius
LOCATION DEMOGRAPHICS
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
KEY FACTS
193,348Population
33.2
Median Age
3.2
AverageHousehold Size
$43,644Median Household
Income
EDUCATION
28%
No HighSchool
Diploma 32%High School
Graduate
29%Some College 12%
Bachelor's/Grad/ProfDegree
BUSINESS
2,300Total Businesses
21,886Total Employees
EMPLOYMENT
43%White Collar
23%Blue Collar
34%Services
7.9%
UnemploymentRate
INCOME
$43,644Median Household
Income
$18,130Per Capita Income
$44,443Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (19.3%)The smallest group: $200,000+ (1.7%)
Value DifferenceIndicator<$15,000
$25,000 - $34,999$15,000 - $24,999
$35,000 - $49,999$50,000 - $74,999
$100,000 - $149,999$75,000 - $99,999
12.0%
$200,000+$150,000 - $199,999
13.6%13.0%
19.3%17.4%
11.6%8.7%2.7%1.7%
+1.1%+3.1%+2.2%+2.4%+0.5%-1.6%-3.7%-1.8%-2.3%
Bars show deviation from
Clark County
KEY FACTS
409,840Population
33.4
Median Age
3.1
AverageHousehold Size
$39,188Median Household
Income
EDUCATION
29%
No HighSchool
Diploma 32%High School
Graduate
27%Some College 11%
Bachelor's/Grad/ProfDegree
BUSINESS
7,640Total Businesses
81,339Total Employees
EMPLOYMENT
40%White Collar
23%Blue Collar
37%Services
8.2%
UnemploymentRate
INCOME
$39,188Median Household
Income
$17,208Per Capita Income
$25,694Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (17.8%)The smallest group: $200,000+ (1.4%)
Value DifferenceIndicator<$15,000$15,000 - $24,999$25,000 - $34,999
$50,000 - $74,999$35,000 - $49,999
$75,000 - $99,999$100,000 - $149,999
$200,000+
14.8%
$150,000 - $199,999
14.1%14.8%
17.8%17.6%
7.3%10.0%
1.4%2.2%
+3.9%+4.2%+3.4%+2.6%-1.0%-3.2%-5.1%
-2.6%-2.3%
Bars show deviation from
Clark County
3 Mile Radius 5 Mile Radius
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
LAS VEGAS DEMOGRAPHICSWith an increasing population of over two million residents, Las Vegas features a combined dynamic of steady household incomes and high education levels. Las Vegas is expanding rapidly, and population is expected to grow 2% by 2019. Along with the population, home sales and pricing, as well as employment and income, are continuing to rise. A benefit for businesses moving to the area is Las Vegas’s educated and fast growing workforce. About 66% of the city’s population has completed some level of college and 22.4% percent hold a bachelor’s degree.
Source: ESRI 2017
8945 W. Russell Road, Suite 110, Las Vegas, NV 89148, +1 702.383.3383 naivegas.com
Located in Clark County in Southern Nevada, Metropolitan Las Vegas is
the 31st largest MSA in the United States, with over two million residents.
With 320 days of sunshine and an average year round temperature of 80
degrees, Las Vegas is an internationally renowned tourism and convention
destination. After lagging for most of the economic recovery, Las Vegas has
begun to see increases in job growth, home prices, construction, tourism,
and population. As the national recovery progresses, people will continue
to be drawn to Las Vegas for its employment opportunities, warm weather,
quality of life, and affordable cost of living.
• Fast growing population
• 3rd largest convention destination
• International tourism hub
• Favorable business tax structure
• No state income tax
• 24-hour economy
• Growing tech-industry environment
• A young and highly productive work force
• Modern transportation infrastructure
• Attractive quality of life and moderate climate
• Affordable cost of living
• Favorable shopping, dining & entertainment
LAS VEGAS HIGHLIGHTS