7460 W Cheyenne Ave - Storefront FOR SALE


Las Vegas, NV 89129- Lone Mountain
$2,441,000 USD
702-482-9675
7460 W Cheyenne Ave, Las Vegas, NV for Sale
$2,441,000 USD
Storefront - FOR SALE
1/5
null | 6% Cap Rate

7460 W Cheyenne Ave
Las Vegas, NV 89129
Lone Mountain


HIGHLIGHTS

  • Outparcel Pad to Daily Needs Community Center – Shops at Cheyenne Fountains sits as a corner outparcel pad to the ±55,225 SF community center
  • Established Tenant History & Stability
  • Licensing rules make this Rapid Cash location highly irreplaceable
  • Optimal Pad Location – Cheyenne Fountains is situated on W. Cheyenne Avenue on the signalized corner of N. Buffalo Drive
  • Near Upside Potential and Strong Income Growth

OVERVIEW

* Outparcel Pad to Daily Needs Community Center – Shops at Cheyenne Fountains sits as a corner outparcel pad to the ±55,225 SF community center Cheyenne Fountains, providing daily needs and services with tenants such as Chevron, Capriotti’s, State Farm Insurance, Las Pupasas Market, Nifty after Fifty Wellness, All State, Santos Barbershop and others * Zoning Restrictions & Licensing Rules - Rapid Cash – Las Vegas zoning and licensing rules effectively freeze many check-cashing / payday loan locations in place. Once an operation closes or moves, reestablishing it elsewhere is often impossible. Check-cashing and payday loan businesses are regulated as Non-Depository Lenders under City licensing rules and are not allowed “by right” in most commercial zoning districts. * Established Tenant History & Stability – Both tenants at the property operate under NNN leases, with Rapid Cash Payday Loans having operated from the site since January of 2007, demonstrating its loyalty to the property and recently extended their lease for an additional 5-years underscoring the opportunity’s stability and long-term investment appeal * Optimal Pad Location – Cheyenne Fountains is situated on W. Cheyenne Avenue on the signalized corner of N. Buffalo Drive putting the site along the daily commute of over 60,000 drivers and making it easily accessible to the surrounding 3-mile daytime population of over 140,300 * Near Upside Potential and Strong Income Growth – Upon stabilization through pre-negotiated rent increases or rolling rents to market, the NOI is projected to increase by more than ±11% by Year 5 and over ±32% during the anticipated 10-year hold period

FOR SALE DETAILS

PRICE

$2,441,000 USD

PRICE/SF

$697 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shops at Cheyenne Fountains

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

C-1

APN/PARCEL ID

138-10-413-007

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.