8870 Durango Dr Las Vegas, NV 89113-5214

Property Details for 8870 Durango Dr

Lot size

1.78 lot acres

Property type

Commercial land

APN

176-16-401-025

APU

17616401025

Description

This exceptional investment opportunity presents a fee-simple ownership (land and building) of a brand-new, 4,093 square-foot convenience store and gas station in Las Vegas, Nevada. The property boasts a 20-year absolute NNN lease, commencing March 1, 2023, and expiring March 1, 2043, with four 5-year renewal options. The lease includes a 10% rental increase every five years, providing significant long-term growth and inflation protection. The property generates a strong net operating income (NOI) of $180,000, resulting in a 5.00% cap rate. Situated on a one-acre lot with 18 parking spaces, the property is located at a signalized, hard-corner intersection on a heavily traveled corridor, benefiting from high visibility and accessibility. The strategic location within the Mountains Edge Marketplace (a 76,000 square-foot lifestyle center) and proximity to multiple apartment complexes ensures a robust customer base. The property's zoning is (C-1) Local Business, and it features a well-known and established tenant with a strong national presence. The 5-mile trade area boasts strong demographics, including a high average household income exceeding six figures. This is a truly exceptional, management-free investment opportunity in a state with no state income tax. The property's APN is 176-16-401-025. The asking price is $3,600,000, translating to $879.55 per square foot. This is a rare chance to acquire a high-performing, low-maintenance asset with significant long-term growth potential.