3891 Flamingo RdLas Vegas, NV 89103

Property Details for 3891 Flamingo Rd

Year built

2019

Construction

FRAME

Lot size

0.58 AC

Property size (Sq ft)

4,143 SF

Property type

Turn key restaurants

APN

162-19-512-021

APU

16219512021

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving Wahoo's Fish Tacos restaurant and 24/7 sports bar, located at 3891 West Flamingo Road in Las Vegas, Nevada. The 4,205 square foot, single-tenant property operates under an absolute triple-net (NNN) lease, eliminating all landlord responsibilities. The lease, initiated in 2019, boasts a 20-year initial term with three 5-year renewal options, providing significant long-term stability. The experienced franchisee, a successful Nevada operator with multiple Wahoo's locations, ensures consistent performance. This vibrant establishment features 15 video poker machines, enhancing its appeal and revenue streams. Strategically positioned near the intersection of West Flamingo Road and South Valley View Boulevard, the property benefits from exceptional visibility along a major thoroughfare with approximately 91,500 vehicles per day. Its proximity to the Las Vegas Strip, and major hotels and casinos including the Gold Coast, The Palms, and Rio, guarantees high foot traffic and a robust customer base. The property is zoned H-1 Limited Resort and Apartment/Entertainment Mixed Use, Clark County, and its location is further enhanced by neighboring nationally recognized tenants such as Walgreens, Chick-fil-A, Del Taco, and Denny's. The asking price is $6,195,000, representing a 5.00% cap rate. This is a rare opportunity to acquire a high-performing, passively managed investment in a prime Las Vegas location. The property's APN is 162-19-512-021.

• CAP approach

  CAP return

  Valuation

  6%

  $1,323,070

  6.5%

  $1,221,296

  7%

  $1,134,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,091,726

  Geo Method

  $2,091,726

• Alternative Use

  Use

  Valuation

  Residential

  $1,030,209

  Hospitality

  $943,666

  Educational

  $785,119

  Medical

  $812,120

  Retail

  $1,221,296

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.115

Longitude

-115.192

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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