New To Market: STNL Terrible Herbst Chevron | 20-YR NNN Ground Lease

FOR SALE

STNL TERRIBLE HERBST CHEVRON

2222 Fremont St., Las Vegas, NV 89101

Offering Price

$2.94M

Cap Rate

4.75 %

Size

+/- 4,490 SF

+/- 1.0 AC

PROPERTY OVERVIEW

LOGIC Commercial Real Estate is pleased to exclusively offer for sale a new construction STNL Terrible Herbst Chevron located near the high-growth Fremont East District of Las Vegas, NV. This brand new corporate guaranteed Terrible Herbst Chevron gas station is comprised of 8 gas pumps and a +/- 4,490 SF convenience store building with attached car wash. This asset is located at the signalized southwest corner of Eastern Ave. and Fremont St., and is strategically positioned near Charleston Blvd., three major commute thoroughfares with combined traffic counts in excess of +/-75,150 CPD.

INVESTMENT HIGHLIGHTS

20-YEAR NNN GROUND LEASE:

Absolute NNN ground lease
New 20-year base term with four 5-year options
Strong operator with corporate guarantee

NEW CONSTRUCTION | ESSENTIAL RETAILER:

Under construction: Q4 2020 completion
Auto/Gas services are deemed essential businesses per NV state guidelines

STRATEGICALLY LOCATED:

The asset is positioned along 3 major commute thoroughfares boasting +/- 75,150 CPD
Services the Fremont East District – a multi-block entertainment area and the world famous Fremont Street Experience
Gateway to Downtown Las Vegas:
- +/- 149,422 hotel rooms
- Government and Legal district
- Symphony Park
- Experiencing strong residential growth

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MALAN | MARCELLO | MARGULIS
RETAIL & INVESTMENT ADVISORS

Malan | Marcello | Margulis Retail & Investment Advisors have experience specializing in development site selection, land acquisition, tenant representation, lender and special servicer representation along with investment sales. Contact us if you would like a broker’s price opinion of your property or assistance with underwriting your acquisition.