Las Vegas, NV Red Dragon 3875 W. Craig Road, North Las Vegas, NV Cap Rate 5.8% North Las Vegas ( Nevada, US ) Built

$3,103,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 5,000 sq. ft.
  • Development Level: Built
  • Year Built: 2020

Description

Las Vegas, NV Red Dragon 3875 W. Craig Road, North Las Vegas, NV Cap Rate 5.8%

Cap Rate: 5.8%
NOI: $180,000
Building Size: 5,000 sqft
Year Built: 2020

Price: $3,103,000 USD

DESCRIPTION
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, newly constructed, Red Dragon investment property located in North Las Vegas, NV (Las Vegas MSA). The tenant, Nevada Restaurant Services, Inc., recently executed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in July 2025 and at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed by Nevada Restaurant Services, Inc., and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. The building features state-of-the art, brand new construction with modern amenities and design. Additionally, the tenant is currently open for business and has been paying full rent during the pandemic. The Red Dragon operates under the Dotty’s brand, one of Nevada’s most successful gaming and tavern companies currently operating 190+ locations. Red Dragon is the Dotty’s brands Asian concept. Food and beverage programs cater to and feature an Asian menu. The concept requires additional tenant improvements and build out features, at tenant cost, beyond the typical Dotty’s location. The tenant will start their TI construction the week of November 9th, 2020. Contact agent for details. The Red Dragon brand currently has 8 locations.

Red Dragon is strategically located along W. Craig Road, the most traveled east/west arterial in North Las Vegas, with over 52,000 vehicles passing by daily. The subject property is ideally situated within the extremely dense surrounding 5-mile trade area in North Las Vegas that features a population of 426,500+, a work force of 121,000+, and an average annual household income of over $75,100. Surrounded in all directions by residential communities, the Red Dragon is poised to take advantage of the large potential consumer base in the area, offering a clean and modern gaming experience to patrons. In addition, nearby national/credit tenants include a Walmart SuperCenter, The Home Depot, Burlington, Albertsons, Walgreens, and more. These well-known tenants help drive consumer traffic to the surrounding trade area and promote a cross shopping conducive environment for Red Dragon.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.