274 W Lake Mead Pky - Fast Food FOR SALE


Henderson, NV 89015- Midway
$2,662,000 USD
858-842-5186
274 W Lake Mead Pky, Henderson, NV for Sale
$2,662,000 USD
Fast Food - FOR SALE
1/11
null | 5.25% Cap Rate

274 W Lake Mead Pky
Henderson, NV 89015
Midway


HIGHLIGHTS

  • CORPORATE ABSOLUTE NNN GROUND LEASE
  • LOW RENT TO SALES UNDER 8%
  • STRONG YOY INCREASE IN SALES
  • PAD IN AWARD WINNING SHOPPING CENTER
  • HUGE TRAFFIC COUNTS - 46,000 CPD
  • DENSELY POPULATED – 223K PEOPLE IN 5-MILE RADIUS

OVERVIEW

CORPORATELY GUARANTEED LEASE • Provides tremendous security to any passive NNN investor • Corporate signature backed by 500 U.S. locations LOW RENT TO SALES – INCREASING YOY STORE SALES • High performing location with above average El Pollo Loco unit level sales • Profitable, and stable, location with a low rent to sales under 8% • Sales have increased annually year over year since 2023 – a 6.9% increase in sales since 2023 LONG TERM TENANCY – 15+ YRS OF SUCCESSFUL OPERATING HISTORY • Tenant has been successfully operating at this location for over 15 years since 2029 • When combined with the strong sales and low rent to sales, it appears Tenants intention to remain long-term at this location. *Buyer to do its own due diligence. ATTRACTIVE ABSOLUTE NNN GROUND LEASE STRUCTURE • Attractive ground lease structure providing incredible security to any investor with tenant’s significant investment into the building and improvements • Upside upon building and improvements reverting to Landlord upon expiration of the Lease – ability to convert ground rent to land and building rent • Completely passive NNN investment – ZERO landlord responsibilities • Attractive 10% increases every 5 years in the Primary and Option Terms STRONG PUBLICLY TRADED TENANT – EL POLLO LOCO INC. • $455 million in Revenue (FY 2021) • $24.747 million (FY 2020) • Founded in 1975 – over 50 years of successful operations COVID-19 AND ECOMMERCE RESISTANT BUSINESS • Fast food drive thru buildings were one of the few Essential Services that were allowed to remain open for business throughout the pandemic IDEALLY LOCATED IN AWARD WINNING LAKE MEAD CROSSING SHOPPING CENTER • 57.5 acre Target anchored shopping center also home to Sprouts Farmers Market, PetSmart, Marshalls, Ulta, Discount Tire, Ross, Hibbett Sports and several other nationals HUGE TRAFFIC ALONG MAJOR RETAIL THOROUGHFARE • Ideally located along W. Lake Mead Parkway, the major retail thoroughfare through Henderson • High Traffic: o W. Lake Mead Parkway – 46,000 CPD o Interstate 11 – 95,500 CPD o S. Boulder Hwy – 33,700 CPD BUILT IN CUSTOMER BASE – MEDICAL AND INDUSTRIAL EMPLOYEE BASE • Subject property is located just blocks from two major medical facilities o St. Rose Dominican Hospital – one of the best in Nevada which provides multiple services including radiology, emergency room, and chapel and chaplains. o Freemont Medical Center • Surrounded by over 1 square mile of industrial headquarters and facilities DENSELY POPULATED TRADE AREA WITH EXCEPTIONAL DEMOGRAPHICS • 223,448 people in a 5-mile radius • 87,242 households in a 5-mile radius • $122,382 average household incomes in a 5-mile radius • 2.41% annual growth rate between 2020 to 2025 STRONG RETAIL TRADE AREA SURROUNDED BY SEVERAL NATIONAL TENANTS • Several national tenants within one-block including Raising Cane’s, Chick fil A, Carls Jr, Jimmy Johns, Starbucks, Wendy’s, Arco and several other regional and local tenants TREMENDOUS ACCESS BETWEEN TWO MAJOR NEVADA HIGHWAYS • Subject property is located in between Interstate 11 and N Boulder Highway (Hwy 582) providing tremendous access to commuters from either highway

FOR SALE DETAILS

PRICE

$2,662,000 USD

PRICE/SF

$943 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

El Pollo Loco Corp GL | Low Rent to Sales

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

CC / Henderson

APN/PARCEL ID

179-18-219-001

ASK ABOUT THIS PROPERTY

Ed Colson, CCIMInvestCore CommercialMore Info
858-842-5186

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Ed Colson, CCIMInvestCore CommercialMore Info
858-842-5186

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