Price Reduced

Retail•Free Standing•For Sale

Las Vegas - Two Story Office with Gaming Sports Bar

7272 South El Capitan Way, Las Vegas, Nevada 89148

Sale Price $3,650,000 ($414.02 /SqFt)
Sale Type Investment
Sale Condition Sale Leaseback
Tenant Yes
Bldg Type Multi-Tenant
Class A
Status Existing
Year Built 2006
Stories 2
Cap Rate 5.50%
Gross Bldg 8,816 SqFt
Total Avail 8,816 SqFt
RBA 8,816 SqFt
Land Area .95 Acres
Market Las Vegas
OFFERING OVERVIEW Net Lease Realty Partners is excited to present this opportunity to acquire a two-story office building with gaming sports bar/restaurant in a Sale-Leaseback with a 15-year lease term for the entire building. With overall 8,816 square feet, the two-story building is located in a high-traffic, densely populated area of southwest Las Vegas and contains the corporate headquarters for Encore Commercial Real Estate which occupies 1,079 square feet of office space on the first floor and the entire 3,252 square-foot office on the second floor for a total of 4,331 square feet. Aces Bar & Grill operates the 4,485 square-foot sports bar/restaurant on the first floor which includes a full liquor license and 15 built-in gaming machines along with a separate full-service dining area. The tenant, Encore Commercial Real Estate, is a reputable regional real estate development company which has developed over 24 real estate projects with 8 new projects currently under development and manages over $1 billion in real estate assets. Aces Bar & Grill is operated by an established tavern operator that currently operates popular taverns in Mesquite and Southern Nevada. The privilege gaming license granted by Nevada Gaming Control Board for this location restricts other tavern and gaming operators from surrounding area giving Aces exclusive access to market demographic.
  • NEW 15-YEAR LEASE TERM AT COE
  • SALE-LEASEBACK
  • ABSOLUTE TRIPLE-NET (NNN) INVESTMENT
  • 2% RENT INCREASE PER YEAR
  • EXCLUSIVE NEVADA GAMING LOCATION
  • LEASE GUARANTEE BY TENANT /PERSONALLY BY GAMING LICENSEE RANDEL ALEMAN
  • HIGH-VISIBILITY/TRAFFIC SITE

3 Spaces

Other
4,485 SqFt
1st Floor
1
FIRST FLOOR: •4,485 SF Bar/Restaurant- Aces •Monthly Rent: $12,000.00 •Liquor License/Exclusive Gaming License •15 Built-In Gaming Machines •Excellent Parking •Indoor & Outdoor Seating
Office
1,079 SqFt
1st Floor Office
1
FIRST FLOOR: •1,079 SF Office- Encore Real Estate SECOND FLOOR: •3,252 SF Office- Encore Real Estate •Monthly Rent: $5,500.00 (total 4,331 SF Encore Real Estate)
Office
3,252 SqFt
2nd Floor Office
2
FIRST FLOOR: •1,079 SF Office- Encore Real Estate SECOND FLOOR: •3,252 SF Office- Encore Real Estate •Monthly Rent: $5,500.00 (total 4,331 SF Encore Real Estate)
12/30/2019 12:00:00 AM 2/25/2020 1:49:00 AM
Paul Bonanno
Broker
Net Lease Realty Partners
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