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AutoSavvy 2121 E Sahara Ave 86,580 SF Retail Building Las Vegas, NV 89104 $9,733,000 ($112.42/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Leases with Tenant Stability – 100% Absolute NNN leased to AutoSavvy (6 Years of Term) and AAA Bar & Restaurant Supply (5 Years of Term)
- Strong Income Growth – Due to annual rental increases, and the ability to bring the below-market rents to market, the NOI is projected to grow ± 69%
- Below Market Rents – The anchor tenant AutoSavvy (74,047 SF) in-place rent is estimated to be more than 38% below market
- Large Scale Covered Land Play, Future Redevelopment Opportunity – Situated on ±10.23 acres centrally located in the heart of central Las Vegas
EXECUTIVE SUMMARY
* AutoSavvy is the largest branded title vehicle retailer in the United States, operating a growing network of 21 dealerships across multiple states. The brand was purchased by ONCAP and has reported 97% revenue growth over the last three years.
* AAA Bar & Restaurant Supply has been operating for over 35 years as one of the largest foodservice industry suppliers in the western U.S. providing a range of products for purchase as well as rental services.
* Below Market Rents – The anchor tenant AutoSavvy (74,047 SF) in-place rent is estimated to be more than 38% below market, increasing the likelihood of tenants exercising options as well as the opportunity to substantially increase rents at expiration.
* Strong Income Growth – Due to annual rental increases, and the ability to bring the below-market rents to market, the NOI is projected to grow approximately ± 69% over an investor’s 10-year hold period, providing strong income growth and a more beneficial inflation hedge compared to many “flat” or low growth STNL investments.
* Large Scale Covered Land Play, Future Redevelopment Opportunity – The site is situated on ±10.23 acres centrally located in the heart of central Las Vegas. The purchase price is below the estimated finished land value of $1.2M/ acre allowing an investor to purchase the asset, collect the income over the remaining term while obtaining.
PROPERTY FACTS
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Retailer
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Lorem Ipsum
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Jan 0000
Since 2005, AutoSavvy has been providing unparalleled value to car buyers by selling branded title vehicles, often referred to as salvaged or rebuilt titles. Starting with a single location, AutoSavvy has grown to 13 locations in 8 different states (AZ, CO, ID, NE, NM, NV, TX, & UT) and with over 50,000 customers have become the largest dealer of branded title vehicles in America. Through their intensive multi-point inspection and restoration process, they have become the most trusted name in branded title vehicle sales. Trust and consistency are what have led AutoSavvy to be named to the Inc. 5000 list, the Utah Business Fast 50, and the MountainWest Capital Network’s Utah 100. They have No-Haggle Pricing and a transparent Up Front Process of Full Disclosure on all their vehicles.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Retailer | - | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 162-11-503-001 | Improvements Assessment | $1,515,411 |
| Land Assessment | $1,657,927 | Total Assessment | $3,173,338 |
PROPERTY TAXES
Presented by
AutoSavvy | 2121 E Sahara Ave
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