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3650 W Cheyenne Ave
North Las Vegas, NV 89032
BLAK Cheynne Industrial Park | NNN · Industrial Property For Sale
Investment Highlights
- 100% Occupied | New 18-Yr. & 5-Yr. Leases| Strong Credit Tenant | Lease Guarantees | Scheduled Increases | Options to Extend
- NNN | Minimal Landlord Responsibilities
- Close to Retail Centers | Cheyenne Market Place and Others
- Brand New Construction | Extensive Tenant Improvements
- Signalized, Hard Corner Intersection | Adjacent to Airport Excellent Visibility & Access | Close to Freeways
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, newly constructed, 56,500 SF two-tenant industrial building investment property, located in the BLAK Cheyenne Industrial Park in North Las Vegas, NV (Las Vegas MSA). Reece Supply, LLC, a wholly owned subsidiary of publicly owned Reece Limited ($9+ billion revenue FY24) occupies 35,000 SF and recently signed a 18-year lease with 2 (5-year) options, demonstrating their commitment to the site. The lease features attractive 5% rental increases every three years, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed by Reece Inc. The Vegas Gymnastics Academy occupies the remaining 21,500 SF and recently signed a 5 year lease with 1 (5-year) option. The Vegas Gymnastics Academy lease features 3.5% annual rent increases and is personal guaranteed. Both leases are NNN with minimal landlord responsibilities. The building is a class A facility with brand new state-of-the-art, concrete tilt-up construction, with modern amenities and design.
Property Facts
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 6.25% | Year Built | 2024 |
| Property Type | Industrial | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 30’ |
| Building Class | A | No. Dock-High Doors/Loading | 4 |
| Lot Size | 3.25 AC | No. Drive In / Grade-Level Doors | 3 |
| Rentable Building Area | 56,500 SF | ||
| Zoning | PUD - PUD Zoning (Planned Unit Development can accommodate a variety of industrial and commercial uses) | ||
| Sale Type | Investment NNN |
| Cap Rate | 6.25% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | A |
| Lot Size | 3.25 AC |
| Rentable Building Area | 56,500 SF |
| No. Stories | 1 |
| Year Built | 2024 |
| Parking Ratio | 1.13/1,000 SF |
| Clear Ceiling Height | 30’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | PUD - PUD Zoning (Planned Unit Development can accommodate a variety of industrial and commercial uses) |
Property Taxes
| Parcel Number | 139-08-417-001 | Improvements Assessment | $2,749,468 |
| Land Assessment | $638,045 | Total Assessment | $3,387,513 |
Property Taxes
Parcel Number
139-08-417-001
Land Assessment
$638,045
Improvements Assessment
$2,749,468
Total Assessment
$3,387,513
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