7-Eleven | Absolute Net Lease
4,600 SF | Retail Building | Las Vegas, NV 89131 | $4,736,842 ($1,030/SF) | 4.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,736,842
- Property Type
-
Retail
- Square Feet
- 4,600 SF
- Price / Square Foot
- $1,030
Listing Contacts
Dustin Alvino
Verified Profile
Andy Pasbakhsh
Verified Profile
- Property Info
Property Overview
Over the next five years, the Las Vegas market’s population is expected to expand by nearly 10 percent, roughly five times the national pace. That rate of growth is projected to rank second nationally behind only Austin. Las Vegas’ comparably milder cost-of-living pressures will meanwhile allow for greater household creation, with the metro’s 14 percent rate of expansion through 2028 expected to lead all other major U.S. markets by at least 150 basis points. The broadening local consumer base will enhance spending and drive tenant demand for available retail space. Locations with sizable multifamily construction pipelines may capture a notable share of household formation, underpinning retail tailwinds. As of May 2024, Southwest Las Vegas led the market with over 2,800 rentals underway. Northwest and South Las Vegas also each had at least 1,500 units under construction.
Property Details
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Service
- Lot Size (sq. ft)
- 44,431 SF
Highlights
- New Construction 7-Eleven | 20-year NNN Lease with no landlord responsibility
- Subject property is positioned as the main entry point to the new Valley Vista Master Planned Community by D.R. Horton (4,100 new homes)
- Affluent Trade Area | Average Household Income within 1-mile is $117,440
- Las Vegas’ milder cost-of-living pressures allow for greater household formation. Metro expects a 14 percent expansion rate through 2028.
- No Competing Gas Stations at this Intersection | Nearest gas station is located .5 miles away
- Nevada is 1 of 9 states with significant tax advantages.
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