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Trop Plaza 4 Retail Properties Offered at $31,100,000 in Las Vegas, NV
Investment Highlights
- Stabilized Retail Center With Immediate Upside
- Signalized Intersection of W. Tropicana Ave. and S. Decatur Blvd (±84,000 VPD)
- Quick Access to All Major Freeways
- EOS & Starbucks Anchored Retail Delivered at 94% Occupancy
- Near Las Vegas Strip and Stadium District
Executive Summary
Colliers is pleased to exclusively offer for sale Trop Plaza, a ±74,809 SF EOS Fitness anchored retail center located in Las Vegas, Nevada. Trop Plaza features national tenants including EOS Fitness, Denny’s, Starbucks, and Walgreens (NAP), and is strategically positioned along W. Tropicana Avenue, one of the Las Vegas’ most heavily trafficked east/west thoroughfares, in close proximity to the Las Vegas Strip and Stadium District.
Situated at the signalized intersection of W. Tropicana Avenue and S. Decatur Boulevard, Trop Plaza benefits from exceptional visibility, dual-street frontage and extremely strong traffic counts (±84,000 VPD), along with quick access to the I-15 Freeway (±177,000 VPD), I-11 Freeway (±229,000 VPD) and the CC 215 Beltway (±119,000 VPD) and the Las Vegas Strip. With an internet resistant and service-oriented mix of national and regional tenants, Trop Plaza boasts a 78-Month WALT and staggered lease expirations, providing durable in-place income alongside value-add potential through vacancy lease-up and mark-to-market rents.
The center is adjacent to The Orleans Hotel & Casino (1,886 Rooms) and Tahiti Resort (174 Suites) and surrounded by a dense and growing trade area, with approximately ±385,753 residents within a 5-mile radius and average household incomes exceeding $93,137. The immediate area features a robust daytime population of over ±660,343 consumers, further driving daytime traffic and retail demand.
Situated at the signalized intersection of W. Tropicana Avenue and S. Decatur Boulevard, Trop Plaza benefits from exceptional visibility, dual-street frontage and extremely strong traffic counts (±84,000 VPD), along with quick access to the I-15 Freeway (±177,000 VPD), I-11 Freeway (±229,000 VPD) and the CC 215 Beltway (±119,000 VPD) and the Las Vegas Strip. With an internet resistant and service-oriented mix of national and regional tenants, Trop Plaza boasts a 78-Month WALT and staggered lease expirations, providing durable in-place income alongside value-add potential through vacancy lease-up and mark-to-market rents.
The center is adjacent to The Orleans Hotel & Casino (1,886 Rooms) and Tahiti Resort (174 Suites) and surrounded by a dense and growing trade area, with approximately ±385,753 residents within a 5-mile radius and average household incomes exceeding $93,137. The immediate area features a robust daytime population of over ±660,343 consumers, further driving daytime traffic and retail demand.
Property Facts
| Price | $31,100,000 | Number of Properties | 4 |
| Price / SF | $457.63 / SF | Individually For Sale | 0 |
| Cap Rate | 6.65% | Total Building Size | 67,959 SF |
| Sale Type | Investment | Total Land Area | 6.36 AC |
| Status | Active |
| Price | $31,100,000 |
| Price / SF | $457.63 / SF |
| Cap Rate | 6.65% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 67,959 SF |
| Total Land Area | 6.36 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Trop Decatur Plaza
4965-5035 W Tropicana Ave, Las Vegas, NV 89103 |
Retail | 43,000 SF | 2000 | - |
| 5045 W Tropicana Ave, Las Vegas, NV 89103 | Retail | 10,159 SF | 2000 | - |
| 4985 W Tropicana Ave, Las Vegas, NV 89103 | Retail | 8,400 SF | 2000 | - |
|
Roadhouse Grill
4945 W Tropicana Ave, Las Vegas, NV 89103 |
Retail | 6,400 SF | 2000 | - |
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