Mi Ranchito Restaurant
2,870 SF | Retail Building | Las Vegas, NV 89102 | $1,990,088 ($693/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,990,088
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,870 SF
- Price / Square Foot
- $693
Listing Contacts
Sean Margulis
Verified Profile
Landon Tenwolde
Verified Profile
- Property Info
Property Overview
Logic Commercial Real Estate is pleased to present the opportunity to purchase the fee simple interest in 3001 W. Sahara Ave., a single-tenant net-leased freestanding retail building. The property is located at the signalized intersection of Sahara Ave. and Richfield Blvd., just minutes from the Las Vegas Strip.
The adjacent building, located at 3013 W. Sahara Ave., is also available for purchase either together with or separately from the corner property. This property is currently listed on LoopNet and has a Net Operating Income (NOI) of $100,440. Please refer to the LoopNet listing for 3013 W. Sahara Ave. for more information.
Sale based on October 2025 NOI: Seller will provide a rent credit to the new Buyer to account for any shortfall in rental income until the October 2025 rent escalation takes effect, ensuring a seamless transition and stable cash flow for the investor.
The tenant, Mi Ranchito Restaurante, is currently in the sixth year of a 10-year lease. The next rent escalation is scheduled to occur in October 2025. At that time, the Net Operating Income (NOI) will be $119,405 and will escalate by 3% annually thereafter. Additionally, the tenant has one (1) three-year renewal option available.
The adjacent building, located at 3013 W. Sahara Ave., is also available for purchase either together with or separately from the corner property. This property is currently listed on LoopNet and has a Net Operating Income (NOI) of $100,440. Please refer to the LoopNet listing for 3013 W. Sahara Ave. for more information.
Sale based on October 2025 NOI: Seller will provide a rent credit to the new Buyer to account for any shortfall in rental income until the October 2025 rent escalation takes effect, ensuring a seamless transition and stable cash flow for the investor.
The tenant, Mi Ranchito Restaurante, is currently in the sixth year of a 10-year lease. The next rent escalation is scheduled to occur in October 2025. At that time, the Net Operating Income (NOI) will be $119,405 and will escalate by 3% annually thereafter. Additionally, the tenant has one (1) three-year renewal option available.
Property Details
- Class
- B
- Year Built
- 1975
- Stories
- 1
- Lot Size (sq. ft)
- 26,136 SF
Highlights
- Situated only +/-1.5 miles west of the Las Vegas Strip, which attracts 42 million annual visitors
- Opportunity to acquire an additional adjacent building with an NOI of $100,400, bringing the combined NOI for both properties to $217,236
- Strategically positioned on one of the busiest thoroughfares in the Las Vegas Valley
- Sahara Avenue boasting an impressive daily traffic count exceeding 50,000 vehicles
- Tenant fully renovated building including HVAC and electrical systems in 2019
- 30 parking spaces, pylon signage, and bus line nearby
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