Paradise Pet Hospital | 1060 E Flamingo Rd
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Paradise Pet Hospital 1060 E Flamingo Rd
4,980 SF Office Building Las Vegas, NV 89119 $650,000 ($131/SF) 9.51% Cap Rate
INVESTMENT HIGHLIGHTS
- This medical office investment is fully occupied by a pet hospital tenant on a fully NNN lease with options running through 2039.
- Pet hospitals present ideal investments, rarely relocated due to buildout investment and patient retention, resulting in stable, long-term leases.
- The freestanding property sits on a 0.38-acre lot with prime frontage to high traffic arteries with exposure to over 55,000 cars each day.
- A ground lease for the property runs through 2046, with four (4) five-year extension options.
EXECUTIVE SUMMARY
KW Commercial is proud to present 1060 E Flamingo Road, an exceptional pet hospital property that promises not only steady cash flow, but also a future-proof commercial real estate investment. With an alluring list price of $650,000 and an impressive 9.5% cap rate, this absolute NNN lease opportunity is a masterstroke in commercial real estate investment. The property will be occupied by a thriving pet hospital business, ensuring a reliable long-term tenant whereby investors will reap the rewards of strong and stable immediate rental income and secure returns.
The property is leased to Pet Medic through November 20th, 2029, with two five-year options to renew running through 2039. The guaranteed NNN lease provides base monthly rent of $5,150 with 3% annual increases. Pet Medic handles all other property expenses, cementing this as a truly low maintenance investment.
Sitting on a generous 0.38-acre lot, this single-story pet hospital offers ample parking with a 5:1 parking ratio, enhancing convenience for clients and employees alike. CG zoning further opens exciting possibilities for future development and expansion. The property's zoning allows for various uses, ensuring flexibility for any potential business requirement in the future. A ground lease for the site runs through June 30, 2046, with four 5-year options running through 2066, and totals $3,991.88 per month with 3% annual increases. The ground rent for the property is potentially tax deductible (consult a tax advisor).
Nestled in a prime spot location with impressive traffic counts of almost 56,000 on Flamingo Road and 30,000 on Maryland Parkway, 1060 East Flamingo Road boasts exceptional visibility and accessibility, ensuring a steady stream of clientele and a strong market presence.
Studies show that as investment properties, pet hospitals offer a robust and recession-resistant market segment. The ever-growing demand for top-notch pet healthcare services, combined with a limited supply of specialized facilities, creates a compelling investment landscape. Investors can tap into a niche that boasts a loyal and expanding customer base, making 1060 E Flamingo Road an irresistible prospect for astute investors.
Serious inquiries only; please contact the broker team for additional information on this incredible opportunity.
The property is leased to Pet Medic through November 20th, 2029, with two five-year options to renew running through 2039. The guaranteed NNN lease provides base monthly rent of $5,150 with 3% annual increases. Pet Medic handles all other property expenses, cementing this as a truly low maintenance investment.
Sitting on a generous 0.38-acre lot, this single-story pet hospital offers ample parking with a 5:1 parking ratio, enhancing convenience for clients and employees alike. CG zoning further opens exciting possibilities for future development and expansion. The property's zoning allows for various uses, ensuring flexibility for any potential business requirement in the future. A ground lease for the site runs through June 30, 2046, with four 5-year options running through 2066, and totals $3,991.88 per month with 3% annual increases. The ground rent for the property is potentially tax deductible (consult a tax advisor).
Nestled in a prime spot location with impressive traffic counts of almost 56,000 on Flamingo Road and 30,000 on Maryland Parkway, 1060 East Flamingo Road boasts exceptional visibility and accessibility, ensuring a steady stream of clientele and a strong market presence.
Studies show that as investment properties, pet hospitals offer a robust and recession-resistant market segment. The ever-growing demand for top-notch pet healthcare services, combined with a limited supply of specialized facilities, creates a compelling investment landscape. Investors can tap into a niche that boasts a loyal and expanding customer base, making 1060 E Flamingo Road an irresistible prospect for astute investors.
Serious inquiries only; please contact the broker team for additional information on this incredible opportunity.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Building Size
4,980 SF
Building Class
B
Year Built
2002
Price
$650,000
Price Per SF
$131
Cap Rate
9.51%
NOI
$61,800
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,980 SF
Building FAR
0.12
Lot Size
0.96 AC
Zoning
CG, Clark County - Accommodates traditional commercial uses & allows for transitions over time to a mix of retail, commercial, & mixed-use developments.
Parking
25 Spaces (5.02 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Paradise Pet Hospital
- Professional, Scientific, and Technical Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Paradise Pet Hospital | Professional, Scientific, and Technical Services | 99,999 SF | $9.99 | Lorem Ipsum | - |
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Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 162-15-805-007 | Improvements Assessment | $217,656 |
| Land Assessment | $140,494 | Total Assessment | $358,150 |
PROPERTY TAXES
Parcel Number
162-15-805-007
Land Assessment
$140,494
Improvements Assessment
$217,656
Total Assessment
$358,150
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Paradise Pet Hospital | 1060 E Flamingo Rd
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