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1550 E Tropicana Ave

Las Vegas, NV 89119

$1,514,000

Convenience Store For Sale  •  9,300 Sq Ft

Property Details

  • Property Type Convenience Store
  • Total Building Size 9,300 Sq Ft
  • Lot Size 0.67 ac
  • Building Class C
  • Year Built 1987
  • Cap Rate 10.37 %
  • Tenancy Multiple
  • Zoning C-2, County
46 Transit Score
64 Walk Score

Description

INVESTOR'S DREAM! GREAT POTENTIAL FOR HIGH RETURNS! NOI based on acquisition cost comprised of Sale Price plus Capital Expenditures, 100% occupancy at market rent rate leases, and a 5% vacancy factor. Basic C-2 zoned multi-tenant property with an immense deal of potential and user flexibility. At one time, front space was built out as a restaurant.  Oven hood has been removed but air vent still remains in place above ceiling tiles along with a potentially usable grease trap. Rare value-add buy with upside potential for investors seeking a quality cash flowing asset or can function for an owner/user occupying 51% of the building while collecting passive income from rents of other tenants.

Highlights

Rare opportunity for distressed commercial property below replacement cost.
On a busy six lane avenue with 110 feet of frontage.
25 foot pylon sign with unmissable street visibility.
Multi-tenant property, with an attractive cap rate.

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $157,035 (2019)
Cap Rate: 10.37 %
Total Expenses: $27,900

Major Tenants

Tenant SF Occupied Lease End Date
Unit 1, 2, & 3 3,500 SF
Unit 4 & 5 2,500 SF
Unit 6 800 SF
Unit 7A/7B 2,500 SF

Amenities

  • Bus Line
  • Pylon Sign
  • Signage

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 49
Type: Surface
Included in Rent: Yes
David Houle 702-273-7377 SVN | The Equity Group
David Houle 702-273-7377 SVN | The Equity Group