STNL Chevron Terrible Herbst
4,719 SF | Retail Building | North Las Vegas, NV 89030 | $3,368,000 ($714/SF) | 4.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,368,000
- Property Type
-
Retail
- Square Feet
- 4,719 SF
- Price / Square Foot
- $714
Listing Contacts
Deana Marcello
Verified Profile
Adam Malan
Verified Profile
- Property Info
Property Overview
Colliers is pleased to exclusively offer for sale a new construction STNL Terrible Herbst Chevron located along a highly trafficked commuter thoroughfare on Las Vegas Blvd. in close proximity to Downtown Las Vegas. This newly constructed gas station is comprised of 8 gas pumps and a ± 4,719 SF convenience store with car wash.
Founded in 1959, Terrible Herbst is a privately owned gasoline and convenience store chain that operates 176 stores across Nevada, California, Arizona and Utah. The asset benefits from a new 20-year Absolute NNN lease with zero landlord responsibilities and 10% rent increases every five years, including options. Adjacent to the site, a brand new Starbucks is currently under construction, which will drive additional daily traffic to the property.
The site is strategically located at the signalized intersection of Las Vegas Blvd. and Carey Ave. with traffic counts in excess of ±33,600 VPD and benefits from ease of access to major freeways including the I-15 Freeway (±206,000 VPD) – a major north/south thoroughfare connecting the site to the US-95 Interchange (±244,000 VPD), the Las Vegas Strip resort corridor, and Henderson. Nearby cotenants include Smith’s, La Bonita, El Super, Ross, El Pollo Loco, Denny’s, Chipotle and more. The asset services a dense and mature trade area with ±495,326 residents with an annual household income of ±$66,046 within a 5-mile radius.
Founded in 1959, Terrible Herbst is a privately owned gasoline and convenience store chain that operates 176 stores across Nevada, California, Arizona and Utah. The asset benefits from a new 20-year Absolute NNN lease with zero landlord responsibilities and 10% rent increases every five years, including options. Adjacent to the site, a brand new Starbucks is currently under construction, which will drive additional daily traffic to the property.
The site is strategically located at the signalized intersection of Las Vegas Blvd. and Carey Ave. with traffic counts in excess of ±33,600 VPD and benefits from ease of access to major freeways including the I-15 Freeway (±206,000 VPD) – a major north/south thoroughfare connecting the site to the US-95 Interchange (±244,000 VPD), the Las Vegas Strip resort corridor, and Henderson. Nearby cotenants include Smith’s, La Bonita, El Super, Ross, El Pollo Loco, Denny’s, Chipotle and more. The asset services a dense and mature trade area with ±495,326 residents with an annual household income of ±$66,046 within a 5-mile radius.
Property Details
- Class
- A
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Freestanding, Service, Storefront
- Lot Size (sq. ft)
- 52,272 SF
Highlights
- New 20-Year Lease with 10% Increases Every 5 Years
- Absolute NNN Ground Lease
- Brand New Construction | Strong Operator
- Building Includes 8 Gas Station Pumps and Car Wash
- Excellent Visibility | Strong Traffic Counts
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