Historical Retail Sale Listing - Flamingo Corridor

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Flamingo Corridor

280 E. Flamingo Road, Las Vegas, NV 89169

N/A

4,990 SF | Retail

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100Leased Retail Building

Retail Property - Off Market

Price:
N/A
Building Size:
4,990 SF
Property Type:
Retail
Property Sub-type:
Street Retail
Property Use Type:
Net Lease Investment with
10+ years left on lease
Commission Split:
3%
Cap Rate:
7.02%
Occupancy:
100%
No. Stories:
1
Tenancy:
Multiple
Property on Ground Lease?:
Yes
Year Built:
2002
Lot Size:
0.90 AC
APN / Parcel ID:
162-21-501-005
Parking Ratio:
10 / 1,000 SF
Listing ID
15992515
Last Updated
over 1 year ago

Description

This neighborhood retail center is nestled at the street front of the Flamingo Corridor adjoining Lawry' s restaurant, the Meridian complex, and the Howard Hughes Center Very close to the Las Vegas Strip, proximity to the I-15 and to McCarran Airport. Surrounded by many high-end restaurants - McCormick and Schmick' s, Bahama Breeze, Cozymels, and Hamada as well as Starbucks Coffee and Park Towers residential towers.

100% leased by national tenant U.S. Bank and top-notch pizzeria Avenue A with long term leases in place.

Great investment opportunity with tremendous upside potential and an excellent 1031 exchange.

This property is on a ground lease. The original ground lease is for 29 years with the option to extend for Seven (7) Ten (10) year periods. The original term expires 9/25/2030. Monthly ground lease payment is $8,607.93.

Ground Lease Rent increases every 5 years by the CPI as noted in the Ground Lease. Last increase was July 1, 2006.

100% leased by national tenant U.S. Bank and Sushi Restaurant with long term leases in place.

Great investment opportunity with tremendous upside potential and an excellent 1031 exchange.

This property is on a ground lease. The original ground lease is for 29 years with the option to extend for Seven (7) Ten (10) year periods. The original term expires 9/25/2030. Monthly ground lease payment is $8,607.93.

Ground Lease Rent increases every 5 years by the CPI as noted in the Ground Lease. Last increase was July 1, 2006.

Map of 280 E. Flamingo Road, Las Vegas, NV 89169 (Clark County)

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Created 11/17/2008