Investment Offering
North Las Vegas, NV - 7-Eleven
NEC. North Martin Luther King Boulevard and West Alexander Road | North Las Vegas, NV 89032
$4,085,000
Price4.7%
Cap Rate$192,000
NOI4,000
± SF Offering GLA1.24
± AC Land AreaDescription
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, newly built, investment grade (S&P: A), 7-Eleven investment property located in North Las Vegas, NV. The tenant, 7-Eleven, Inc., recently signed a brand new 15-year lease with 4 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features scheduled rental increases every 5 years throughout the initial term and options (see page 17 for details), growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: A) and is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. 7-Eleven is a well-recognized and established brand that franchises and/or licenses more than 70,000 stores worldwide. The building, which is scheduled to open for business in June 2023, will feature a state-of-the-art design using the highest-quality materials available.
Location
7-Eleven is strategically located at the signalized, hard corner intersection of W. Alexander Road and N. M.L.K. Boulevard, averaging a combined 44,600 vehicles passing by daily. The asset benefits from direct access onto Interstate 15 (125,000 VPD), U.S. Highway 95 Bus. (60,800 VPD), State Highway 573 (53,000 VPD), and other major commuter routes, making it a centralized location with easy commutes. 7-Eleven is ideally situated within a dense retail corridor and is near The Village at Craig Road (74K+ SF), Red Rock Commercial Center (264K+ SF), North Mesa Plaza (424K+ SF), and other shopping centers. The surrounding national/credit tenants consist of Walmart Supercenter, PetSmart, The Home Depot, Smith’s, O’Reilly Auto Parts, and Starbucks, among many others. The strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and supports the local economy. Furthermore, the subject property is near numerous single-family communities and multi-family complexes including Hidden Canyon Village (148 units), La Serena at the Parque (193 units), Parq at Camino (417 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 468,700 residents and 150,100 daytime employees, with a healthy average household income of $83,002.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]NV #: B.1003241.LP