3978 Lake Mead BlvdLas Vegas, NV 89115

Property Details for 3978 Lake Mead Blvd

Year built

2024

Lot size

2.01 AC

Property size (Sq ft)

4,500 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1962

Longitude

-115.088

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