3891 Flamingo RdLas Vegas, NV 89103

  • Retail properties
  • 4,143 SF
For Sale
$6,195,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
3891 Flamingo Rd, Las Vegas, Nevada

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$16,367
$274,125
$350,008
$624,133
-
$783,214
$1,000,023
$1,783,237

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