2121 E Sahara Ave - Auto Dealership FOR SALE


Las Vegas, NV 89104- Winchester
$9,733,000 USD
702-482-9675
2121 E Sahara Ave, Las Vegas, NV for Sale
$9,733,000 USD
Auto Dealership - FOR SALE
1/6
null | 5.5% Cap Rate

2121 E Sahara Ave
Las Vegas, NV 89104
Winchester


HIGHLIGHTS

  • 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)
  • Below Market Rents – The anchor tenant AutoSavvy (74,047 SF) in-place rent is estimated to be more than 38% below market
  • 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 ± 69%
  • Large Scale Covered Land Play, Future Redevelopment Opportunity – Situated on ±10.23 acres centrally located in the heart of central Las Vegas

OVERVIEW

* 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.

FOR SALE DETAILS

PRICE

$9,733,000 USD

PRICE/SF

$199 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

AutoSource

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

525

LAND DETAILS

LAND ACRES

10.23 AC

LAND SF

445,619 SF

ZONING

C-2

APN/PARCEL ID

162-11-503-001

ASK ABOUT THIS PROPERTY

Roy FritzCBREMore Info
702-482-9675

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Roy FritzCBREMore Info
702-482-9675

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.