2992 W Cheyenne Ave - Restaurant FOR SALE


North Las Vegas, NV 89032
$5,557,900 USD
702-340-9490
2992 W Cheyenne Ave, North Las Vegas, NV for Sale
$5,557,900 USD
Restaurant - FOR SALE
1/11
null | 4.75% Cap Rate

2992 W Cheyenne Ave
North Las Vegas, NV 89032


HIGHLIGHTS

  • Single-Tenant NNN Investment with a new 10-year lease in place
  • Corporate Guaranty by JETT Gaming, LLC, an affiliate of Terrible’s with 9 taverns and 186 convenience stores
  • Restricted gaming license for up to 15 gaming machines, which are in high demand throughout the Las Vegas Valley
  • Convenient Location and Accessibility with ±35,500 CPD and proximity to US-95 & I-15
  • Strong Demographics with ±502,394 residents and $89,717 average household income within a 5 mile radius

OVERVIEW

The Vincent Advisory Group of LOGIC Commercial Real Estate is pleased to present the opportunity to acquire WSKY Bar + Grill – Cheyenne, a single-tenant, triple-net leased investment located along the highly-trafficked Cheyenne Avenue corridor in North Las Vegas. Positioned just off the signalized, hard corner of Cheyenne Avenue and Simmons Street, the property benefits from strong traffic counts of ± 35,500 cars per day and excellent connectivity to both US-95 and I-15. The offering features a brand-new, 10-year lease, providing long-term cash flow with minimal landlord obligations and is backed by a strong corporate guaranty. The guarantor, JETT Gaming, LLC, an affiliate of the well-known Terrible’s brand, owns and operates ± 13 tavern and casino properties across Nevada and manages gaming operations for hundreds of third-party locations including Albertson’s, VONS, and Safeway. This is the 8th tavern operated by JETT Gaming with more locations in the pipeline. The tenant recently purchased the tavern last year and invested additional capital into renovating the property, demonstrating its commitment to the site.  Additionally, the property benefits from a restricted gaming license for 15 machines—a rare and privileged entitlement in Southern Nevada that provides meaningful revenue and long-term tenant commitment. The surrounding area offers strong demographics, with a population of nearly 502,394 and average household income exceeding $89,717 within a 5-mile radius. WSKY Bar + Grill – Cheyenne offers a rare opportunity to acquire a stabilized, corporate-backed gaming asset in a high-traffic corridor of North Las Vegas.

FOR SALE DETAILS

PRICE

$5,557,900 USD

PRICE/SF

$707 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

STNL WSKY Bar + Grill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

132

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

PUD, North Las Vegas

APN/PARCEL ID

139-08-402-014

ASK ABOUT THIS PROPERTY

Gino VincentLogic Commercial Real EstateMore Info
702-340-9490

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Gino VincentLogic Commercial Real EstateMore Info
702-340-9490

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