This Retail Property is Off-Market.

280 E. Flamingo Road
Las Vegas, NV 89169 ·

4,990 SF · Retail For Sale

N/A

Print

Flamingo Corridor

Price N/A No. Stories 1
Building Size 4,990 SF Tenancy Multiple
Property Type Retail Property on Ground Lease? Yes
Property Sub-type Street Retail Year Built 2002
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 0.90 AC
Commission Split 3% APN / Parcel ID 162-21-501-005
Cap Rate 7.02% Parking Ratio 10 / 1,000 SF
Occupancy 100%
Listing ID: 15992515 Date Created: 11/17/2008 Last Updated: 06/10/2011

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.

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Las Vegas Market Trends - Asking price index trends, sale price trends, asking rent trends

Similar Listings

  • 7251 W. Azure Drive
    7251 W. Azure Drive

    Las Vegas, NV 89130

    For Sale · $3,300,000

    5,084 SF Building

    Service/Gas Station

  • 1195 E. Pyle Ave.
    1195 E. Pyle Ave.

    Las Vegas, NV 89183

    For Sale · $2,850,000

    3,778 SF Building

    Service/Gas Station

  • 4615 Swenson St
    4615 Swenson St

    Las Vegas, NV 89119

    For Sale · $625,000

    3,829 SF Building

    Street Retail

  • 6101 Vegas Dr.
    6101 Vegas Dr.

    Las Vegas, NV 89108

    For Sale · $3,195,000

    4,400 SF Building

    Service/Gas Station

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)