For Sale
$8,351,000

3978 Lake Mead Blvd Las Vegas, NV 89115

High-return gas station investment.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 4,500 square-foot Conoco gas station and convenience store in Las Vegas, Nevada. Built in 2024, the property boasts a prime location on a signalized, hard-corner intersection of E Lake Mead Blvd and N Lamar Blvd, experiencing over 64,400 vehicles daily. The property sits on a 2.01-acre lot and benefits from R-2 zoning. A 20-year absolute NNN lease with LV Petroleum, LLC, includes four 5-year renewal options, ensuring long-term stability. The lease features 3% annual rent bumps, protecting against inflation. The tenant, an experienced operator in Nevada and Arizona, also operates a full-service Rally's with a drive-thru on the site. This location enjoys excellent visibility and strong tenant synergy with nearby national retailers like Lowe's, McDonald's, Walgreens, and Circle K. The property's 5-mile trade area boasts a population exceeding 464,400, with an average household income of $69,138. The asking price is $8,351,000, representing a 6.75% cap rate and a price per square foot of $1,855.78. The property's current NOI is $563,724, with 100% occupancy. This is a management-free investment opportunity with significant upside potential. The APN is 140-19-610-011.

Highlights

  • Brand new, 20-year NNN lease with four 5-year options; well-known tenant with experience.
  • Fee simple ownership; absolute NNN lease; zero landlord responsibilities.
  • High-traffic location: signalized, hard-corner intersection with 64,000 vehicles per day; excellent visibility.
  • Strong retail corridor near the Las Vegas Strip; co-tenancy includes national retailers; includes a full-service Rally's.
  • Dense, affluent population within a 5-mile radius; strong demographics.

Property Details for 3978 Lake Mead Blvd

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,500 SF
Year Built
2024
Lot Size (sq. ft)
87,556 SF

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.196204
Longitude
-115.087543

FAQs

What type of property is this?
Retail property - High-return gas station investment.
Where is the retail property located?
The property is located at 3978 Lake Mead Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,351,000.
What are key features of this property?
This property features: Brand new, 20-year NNN lease with four 5-year options; well-known tenant with experience.; Fee simple ownership; absolute NNN lease; zero landlord responsibilities.; High-traffic location: signalized, hard-corner intersection with 64,000 vehicles per day; excellent visibility.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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3978 Lake Mead Blvd
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