CAP Rate: 6.75%
Net Operating Income: $429,071
Year Built: 2019
This represents a 100% fee simple interest in a 50,479 +/- gross square foot building (plus outdoor display area) located in Elko, Nevada. This single-tenant property is leased to C-A-L Stores Companies, Inc.
This a brand new 10 year net lease with four, 5-year options. The rent increases every 5 years. The site is surrounded by over 700,000 SF of retail including Walmart Supercenter (generating $175 million in sales), Elko Junction Shopping Center, Home Depot, and adjacent Kohl’s Department Store.
Elko is the largest city in and county seat of Elko County, Nevada, United States. The population was 18,297 at the 2010 census The city straddles the Humboldt River.
Elko is the principal city of the Elko Micropolitan Statistical Area, a micropolitan area that covers Elko and Eureka counties. It is the largest city for over 130 miles (210 km) in all directions, making it, as its city motto states, “The Heart of Northeast Nevada”.