Listing contacts

Lisamarie Wand  

EXP Commercial I Nevada

(775) 224-5300

Active

Asking price: $2,400,000
Added: 2022-05-27

Info

Address 673 Mall Ring Cir
City Henderson
State NV
Zip Code 89014
County Nevada
Total Lot Size 0.54 acres
Year Built 1997
Property type Conversion

Details

Pro-Forma Cap Rate 4.97 %
NOI $119,300
Number of units 1
Rentable 2,560 SF

Demographics

Median household income (5-mile radius) 67,202
Renters occupied (5-mile radius) 44 %
Num of competitors (5-mile radius) 63
Sq.Ft. per capita (1-mile radius) 18.51
5x5 unit average price $63
5x10 unit average price $92
10x10 unit average price $150

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Highlights

  • • Pad building outside Sunset Galleria Mall
  • • Fully remodeled in 2016 (new roof and HVAC)
  • • Above the AUV (Average Unit Volume) for Blaze Pizza
  • • Strong Franchisee (12 Blaze Pizza Locations)
  • • Built out patio and deck
  • • Three (3) five (5) year options to renew
  • • Four (4) years and four (4) months remaining on base term

Description

673 Mall Ring Circle is a single tenant NNN retail pad at The Galleria at Sunset shopping center in Henderson, Nevada, leased to Blaze Pizza. Henderson is a rapidly growing submarket with population increases year over year. This particular building was fully renovated in 2016 at the start of the Blaze Pizza lease term. Property features include and are not limited to; 24 Hour Access, Air Conditioning, Atrium, Balcony, Banking, Bus Line, Controlled Access, Commuter Rail, Courtyard, Dedicated Turn Lane, Food Court, Freeway Visibility, Hotel, Metro/Subway, Property Manager on Site, Pylon Sign, Restaurant, Signage, Signalized Intersection, Tenant Controlled HVAC, Waterfront, Kiosk/Cart Space, and a Skyway. With 4.5 years remaining on the initial term and options to renew, we believe this is a great opportunity with a great tenant. This particular franchisee has 11 other locations as well as an investment in other franchise brands. This Blaze Pizza is and has always been above the Average Unity Volume (AUV) for the chain.


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