White Castle, 7-11 & Sbarro- Harmon SQ | 4501 Paradise Rd
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White Castle, 7-11 & Sbarro- Harmon SQ 4501 Paradise Rd
6,642 SF 100% Leased Retail Building Las Vegas, NV 89169 $16,400,000 ($2,469/SF) 4.70% Cap Rate
Executive Summary
Investment Highlights
Generational Asset – the property is located 1.2 miles from the World-Famous Las Vegas Strip
Iconic Location - ideally positioned at the hard corner of Paradise & E Harmon (64,500 VPD)
Excellent Tenant Roster – 7-Eleven, White Castle & Sbarro, high-profile National retailers that appeal to a very broad customer base
100% Occupied/NNN Leases – fully stabilized with strong historical occupancy – leases are NNN with expense pass-through, providing ease of management and minimal expense slippage.
Increasing Cash Flow – fixed rent increases and a combination of percentage rent clauses provide a growing NOI and an excellent hedge against inflation.
Strong Population Area – 124,133 population within a 3-mile radius of the property, and 392,211 in a 5-mile radius
Areas of Interest
1.2 miles from the Las Vegas Strip, one of the largest Tourist attractions in the world
Located across the street from the Virgin Hotels Las Vegas, with 3 hotel towers & 1,500 rooms and includes a 60,000 sf Casino, a 5-acre desert pool oasis and a live music theater with 4,500 capacity
1.8 miles from Harry Reid International Airport, which serves 57.7 million annual visitors
1 block from the 332-acre campus of University of Nevada, Las Vegas with an enrollment of 32,000+ students.
1 block east of the Las Vegas Grand Prix circuit, a Formula One race held annually in November that attracts 300,000+ spectators.
Generational Asset – the property is located 1.2 miles from the World-Famous Las Vegas Strip
Iconic Location - ideally positioned at the hard corner of Paradise & E Harmon (64,500 VPD)
Excellent Tenant Roster – 7-Eleven, White Castle & Sbarro, high-profile National retailers that appeal to a very broad customer base
100% Occupied/NNN Leases – fully stabilized with strong historical occupancy – leases are NNN with expense pass-through, providing ease of management and minimal expense slippage.
Increasing Cash Flow – fixed rent increases and a combination of percentage rent clauses provide a growing NOI and an excellent hedge against inflation.
Strong Population Area – 124,133 population within a 3-mile radius of the property, and 392,211 in a 5-mile radius
Areas of Interest
1.2 miles from the Las Vegas Strip, one of the largest Tourist attractions in the world
Located across the street from the Virgin Hotels Las Vegas, with 3 hotel towers & 1,500 rooms and includes a 60,000 sf Casino, a 5-acre desert pool oasis and a live music theater with 4,500 capacity
1.8 miles from Harry Reid International Airport, which serves 57.7 million annual visitors
1 block from the 332-acre campus of University of Nevada, Las Vegas with an enrollment of 32,000+ students.
1 block east of the Las Vegas Grand Prix circuit, a Formula One race held annually in November that attracts 300,000+ spectators.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,642 SF
Building Class
B
Year Built
1987
Price
$16,400,000
Price Per SF
$2,469
Cap Rate
4.70%
NOI
$770,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Land Acres
1.00 AC
Zoning
H-1
Parking
20 Spaces (3.01 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score ®
Very Walkable (78)
Nearby Major Retailers
-
Chuck Klein -
SRS Real Estate Partners
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White Castle, 7-11 & Sbarro- Harmon SQ | 4501 Paradise Rd
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