CAP Rate: 6.50%
Net Operating Income: $364,977
Year Built: 2019
This represents a 100% fee simple interest in a 40,553 +/- gross square foot building located in Elko, Nevada. This single-tenant property is leased to Kohl’s Corporation (NYSE:KSS).
This a brand new 15 year NNN lease with six, 5-year options. The rent increases every 5 Years. The property benefits from heavy traffic counts along I‐80 at Mountain City Hwy with 60,000 VPD. The site is surrounded by many major retailers including Sears, Walmart, McDonald’s Harbor Freight Tools, Party City, Ashley Furniture, Wendy’s, and many others.
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”.
It is home to Great Basin College, as well as to the National Weather Service Weather Forecast Office serving most of northern and central Nevada.