Crossroads Lounge | NNN | Gaming Machines | 7960 N Decatur Blvd
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Crossroads Lounge | NNN | Gaming Machines 7960 N Decatur Blvd
5,000 SF Retail Building Las Vegas, NV 89131 $3,750,000 ($750/SF) 6% Cap Rate
Investment Highlights
- New Construction Crossroads Tavern | 20-year Absolute Net Lease with no landlord responsibility
- Subject property is positioned as the main entry point to the new Valley Vista Master Planned Community by D.R. Horton (4,100 new homes)
- Affluent Trade Area | Average Household Income within 1-mile is $117,440
- Rare License | Tenant benefits from 15 Gaming Machines. | No competing Taverns within a 2-mile radius
- Las Vegas’ milder cost-of-living pressures allow for greater household formation. Metro expects a 14 percent expansion rate through 2028.
- Nevada is 1 of 9 states with significant tax advantages.
Executive Summary
Gambling itself is a highly lucrative industry. Slot machines, video poker, and other gaming activities generate significant revenue. Restaurants and taverns that offer these games can tap into this profitable market. Over the next five years, the Las Vegas market’s population is expected to expand by nearly 10 percent, roughly five times the national pace. That rate of growth is projected to rank second nationally behind only Austin. Las Vegas’ comparably milder cost-of-living pressures will meanwhile allow for greater household creation, with the metro’s 14 percent rate of expansion through 2028 expected to lead all other major U.S. markets by at least 150 basis points. The broadening local consumer base will enhance spending and drive tenant demand for available retail space. Locations with sizable multifamily construction pipelines may capture a notable share of household formation, underpinning retail tailwinds. As of May 2024, Southwest Las Vegas led the market with over 2,800 rentals underway. Northwest and South Las Vegas also each had at least 1,500 units under construction.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,000 SF
Building Class
C
Year Built
2024
Price
$3,750,000
Price Per SF
$750
Cap Rate
6%
NOI
$225,000
Tenancy
Single
Building Height
1 Story
Zoning
C-1 - C-1 (Master Plan Community Neighborhood Commercial)
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Crossroads Lounge | NNN | Gaming Machines | 7960 N Decatur Blvd
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