Rally's | New 15yr Abs NNN | DrThru
1,088 SF | 4-Star Retail Building | Las Vegas, NV 89108 | $1,905,000 ($1,751/SF) | 5.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,905,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 1,088 SF
- Price / Square Foot
- $1,751
Listing Contacts
Patrick Luther
Verified Profile
- Property Info
Property Overview
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, freestanding, Rally’s investment property located in North Las Vegas, Nevada. The tenant, Rally’s, recently signed a brand new 15-year lease, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor in an income tax free state. Founded in 1985, as of 2022, the company operates 878 Checkers and Rally’s restaurants in 28 states.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 19,166 SF
Highlights
- Brand New 15-Year Lease | Scheduled 10% Rental Increases | Popular and Growing Concept | Drive-Thru Equipped
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strategically Located Along Cheyenne Ave (47,500 VPD) | Excellent Visibility & Access | Blocks From Cheyenne Commons
- Strong Demographics In 5-mile Trade Area
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