* Absolute NNN Leases with Tenant Stability – 100% Absolute NNN leased to AutoSavvy (6 Years of Term) and AAA Bar & Restaurant Supply (5 Years of Term) with annual rent increases of 2% and 3% respectively.
* AutoSavvy is the largest branded title vehicle retailer in the United States, operating a growing network of 21 dealerships across multiple states. The brand was purchased by ONCAP and has reported 97% revenue growth over the last three years.
* AAA Bar & Restaurant Supply has been operating for over 35 years as one of the largest foodservice industry suppliers in the western U.S. providing a range of products for purchase as well as rental services.
* Below Market Rents – The anchor tenant AutoSavvy (74,047 SF) in-place rent is estimated to be more than 38% below market, increasing the likelihood of tenants exercising options as well as the opportunity to substantially increase rents at expiration.
* Strong Income Growth – Due to annual rental increases, and the ability to bring the below-market rents to market, the NOI is projected to grow approximately ± 69% over an investor’s 10-year hold period, providing strong income growth and a more beneficial inflation hedge compared to many “flat” or low growth STNL investments.
* Large Scale Covered Land Play, Future Redevelopment Opportunity – The site is situated on ±10.23 acres centrally located in the heart of central Las Vegas. The purchase price is below the estimated finished land value of $1.2M/ acre allowing an investor to purchase the asset, collect the income over the remaining term while obtaining.