CAP Rate: 3.50%
Net Operating Income: $250,000
Lot Size: 70,000 SF
This subject offering is an extremely rare Las Vegas net leased offering. This is the opportunity to purchase the 100% fee simple interest in a long term absolute NNN Chick-fil-A ground lease. The lease structure is a 15 year initial term with 10% increases every 5 years with eight 5 year renewal options and 10% increases at each option. The lease is a pure NNN and requires zero landlord responsibilities. Chick-fil-A is the second largest quick service chicken restaurant in the country. The asset is irreplaceable real estate in Las Vegas and just off of the Las Vegas Freeway.
The City of Las Vegas and often known simply as Vegas, is the 28th-most populated city in the United States, the most populated city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas Valley metropolitan area and is the largest city within the greater Mojave Desert. Las Vegas is an internationally renowned major resort city known primarily for its gambling, shopping, fine dining, entertainment, and nightlife. It is the leading financial, commercial, and cultural center for Nevada.