5020 E Tropicana Ave

5020 E Tropicana Ave , Las Vegas, Nevada, 89122 | 16,603 sq.f | $ 3,900,000

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About This Restaurant

Investment Highlights

Heavy auto traffic On major bus route Corner Lot

Executive Summary

14 units out 17 have been leased out. New foam roof installed in 2022.This center gets a huge amount of traffic along a heavily traveled corridor in eastern Las Vegas. It features ample parking, multiple entrance points along Tropicana Avenue and Nellis Boulevard, and pylon signage that is visible to 27,260 average daily vehicles along Tropicana Avenue. Situated midway between I-515 and Boulder Highway, Tropicana Gardens is easily accessible to consumers. Immediately surrounding the center, 27,756 people live within a one-mile radius. However, given the convenience to major area thoroughfares, tenants can easily reach the 162,436 people living within a three-mile radius. This robust potential consumer base within a three-mile radius boasts an average household income of $70,304 and contributed to a consumer spending total of $1.7 billion. The center benefits from its position along the established Tropicana Avenue commercial corridor, which is home to numerous national retailers, including O?Reilly Auto Parts, Family Dollar, T-Mobile, Auto Zone, Sonic Drive-In, and Burger King, as well as supermarkets, banks, fitness facilities, and daily conveniences amenities.

Property Details

  • Sale Type    Investment NNN
  • Property Type    Retail
  • Property Subtype    Storefront Storefront General Retail Bar Storefront
  • Building Size    16,603
  • Building Class    C
  • Year Built    1988
  • Price    3,900,000
  • Price Per SF    235
  • Cap Rate    4
  • NOI    156,000
  • Percent Leased    93
  • Tenancy    Multiple
  • Building Height    1 Story
  • Building FAR    0.35
  • Land Acres    1.08 AC

Amenities

  • Pylon Sign
  • Restaurant
  • Signage
  • Signalized Intersection

Nearby Amenities & Transportation

Retail Rent-A-Center
Retail Albertsons
Retail Planet Fitness
Retail Panda Express
Retail Wingstop
Retail WW
Retail Bank of America
Retail Denny's
Retail Starbucks
Retail Cardenas

Property Taxes

Parcel Number 161-21-411-064 Improvements Assessment $131,726
Land Assessment $429,654 Total Assessment $561,380
Date Created: 2024-07-16 04:18:00 Last Updated: 2024-07-16 04:18:00
Address: 5020 E Tropicana Ave , Las Vegas, Nevada, 89122