3978 Lake Mead Blvd Las Vegas, NV 89115
- Retail properties
- 4,500 SF
- 2.01 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3978 Lake Mead Blvd
- Year built
- 2024
- Lot size
- 2.01 lot acres
- Property size
- 4,500 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 4,500 square-foot Conoco gas station and convenience store in Las Vegas, Nevada. Built in 2024, the property boasts a prime location on a signalized, hard-corner intersection of E Lake Mead Blvd and N Lamar Blvd, experiencing over 64,400 vehicles daily. The property sits on a 2.01-acre lot and benefits from R-2 zoning. A 20-year absolute NNN lease with LV Petroleum, LLC, includes four 5-year renewal options, ensuring long-term stability. The lease features 3% annual rent bumps, protecting against inflation. The tenant, an experienced operator in Nevada and Arizona, also operates a full-service Rally's with a drive-thru on the site. This location enjoys excellent visibility and strong tenant synergy with nearby national retailers like Lowe's, McDonald's, Walgreens, and Circle K. The property's 5-mile trade area boasts a population exceeding 464,400, with an average household income of $69,138. The asking price is $8,351,000, representing a 6.75% cap rate and a price per square foot of $1,855.78. The property's current NOI is $563,724, with 100% occupancy. This is a management-free investment opportunity with significant upside potential. The APN is 140-19-610-011.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.088
- Latitude
- 36.1962
