For Sale
$3,200,000

Nec Las Vegas Blvd. & Carey Ave North Las Vegas, NV 89030

High-traffic, NNN-leased gas station

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a brand-new, 4,719 square foot Chevron and Terrible Herbst gas station and convenience store, built in 2024, situated on a 1.2-acre lot in North Las Vegas, Nevada. The property boasts a prime location at the signalized intersection of Las Vegas Boulevard and Carey Avenue, benefiting from exceptional visibility and high traffic counts exceeding 33,600 vehicles per day. The property is further enhanced by its proximity to the I-15 Freeway (approximately 206,000 VPD), providing easy access for commuters. This single-tenant property features eight gas pumps and a car wash, operating under a 20-year absolute NNN ground lease with a strong corporate guarantee from Terrible Herbst, Inc., a major operator with approximately 176 locations. The lease includes ten percent rent increases every five years, with options for renewal. The property's strong financial performance is reflected in its $160,000 net operating income (NOI) and a 5.00% cap rate. The asking price is $3,200,000. The property is zoned General Commercial (C-2) and serves a dense trade area with approximately 495,326 residents within a five-mile radius, boasting an average annual household income of $66,046. This presents a compelling investment opportunity with significant long-term growth potential in a rapidly expanding market. The property's location near North Las Vegas City Hall and Municipal Courts, along with nearby co-tenants such as Smith's, La Bonita, and other major retailers, further solidifies its value and attractiveness.

Highlights

  • Absolute NNN ground lease with a new 20-year term plus six 5-year options; 10% rent increases every five years.
  • Brand new construction, completing August 2024, featuring eight gas pumps and a car wash; strong corporate guarantee from Terrible Herbst, Inc.
  • Excellent visibility and high traffic counts: less than two miles from I-15 Freeway (±206,000 VPD), signalized intersection with ±33,600 VPD, near US-95 Interchange, Downtown Las Vegas, and the Strip.
  • Densely populated trade area: ±495,326 residents within a 5-mile radius, average household income ±$66,046; North Las Vegas growing rapidly.

Property Details for 0 Nec Las Vegas Blvd. & Carey Ave

Property type
Retail properties, Retail space
Square Feet
4,719 SF
Class
A
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
52,272 SF
Units
1

Location Insight

City
North Las Vegas
County
Clark
State
Nevada
Latitude
36.2031952
Longitude
-115.1182823

FAQs

What type of property is this?
Retail property - High-traffic, NNN-leased gas station
Where is the retail property located?
The property is located at Nec Las Vegas Blvd. & Carey Ave North Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Absolute NNN ground lease with a new 20-year term plus six 5-year options; 10% rent increases every five years.; Brand new construction, completing August 2024, featuring eight gas pumps and a car wash; strong corporate guarantee from Terrible Herbst, Inc.; Excellent visibility and high traffic counts: less than two miles from I-15 Freeway (±206,000 VPD), signalized intersection with ±33,600 VPD, near US-95 Interchange, Downtown Las Vegas, and the Strip.
How can I contact the broker?
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0 Nec Las Vegas Blvd. & Carey Ave
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