1060 Flamingo RdLas Vegas, NV 89119

Property Details for 1060 Flamingo Rd

Year built

2009

Construction

FRAME

Lot size

0.38 AC

Property size (Sq ft)

4,980 SF

Property type

Specialty properties

Property subtype

Other specialty properties

APN

162-15-805-007

APU

16215805007

Description

This exceptional investment opportunity presents a single-story, 4,890 square foot medical office building located at 1060 E Flamingo Rd, Las Vegas, NV 89119. The property, built in 2009 and renovated in 2016, sits on a 0.38-acre lot with premium frontage on a high-traffic road boasting over 55,000 vehicles daily. Currently 100% occupied by a thriving pet hospital under a Net Lease (NNN) agreement commencing January 1, 2024, and expiring November 30, 2029, this Class B building offers a strong 7.55% cap rate with a net operating income (NOI) of $60,000. The property features Commercial General zoning, allowing for diverse future uses. The ground lease is in place, and the ownership is leasehold. This recession-resistant investment in the pet healthcare industry provides exceptional visibility and accessibility, making it an ideal opportunity for investors seeking stability and long-term lease security. The single-tenant occupancy minimizes management complexities, and the tenant's established presence ensures consistent rental income. The property's APN is 162-15-805-007.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1151

Longitude

-115.141

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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