Investment Offering
Las Vegas, NV - Cafe Zupas
4790 Blue Diamond Road | Las Vegas, NV 89139
$3,250,000
Price4.61%
Cap Rate$149,978
NOI3,658
± SF Offering GLA0.32
± AC Land AreaDescription
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, freestanding Café Zupas investment property located in Las Vegas, Nevada. The tenant, Café Zupas, L.C., recently signed a brand new 15-year lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor in an income tax free state. Founded in 2004, Café Zupas serves house-made and globally inspired soups, salads, and sandwiches and currently operates in over 50 kitchens across 8 states.
Location
Café Zupas is located near the signalized hard corner intersection of Blue Diamond Road and South Decatur Boulevard which serves over 75,000 vehicles per day. Furthermore, the asset benefits from nearby direct on/off ramp access to Interstate 15 (151,000 VPD), making this an ideal, centralized location with easy commutes. The asset is ideally positioned as an outparcel at Blue Diamond Ranch Center, a 172,000 SF Albertsons anchored center. Other nearby national/credit tenants include Target, Kohl’s, Ross, Big Lots, Smiths, Bass Pro Shop, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area. Moreover,
the subject is situated just 7 miles south of the historic Las Vegas Strip (42 million annual visitors) and 4 miles from Harry Reid International Airport (51M annual Passengers), further increasing consumer traffic to the trade area. In addition, the site is located less than 2-miles east from The Summer Winds (352 units), The Octave Apartments (264 units), The Diamond Sands Apartments (360 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 331,000 residents and 173,000 daytime employees. Residents within a 1-mile radius boast an affluent average household income of more than $131,000.
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]NV #: B.1003241.LP