1531 Las Vegas S Blvd Las Vegas, NV 89104

This exceptional investment opportunity presents a fee-simple interest in a 24,980-square-foot nightclub on the Las Vegas Strip. The property boasts a brand-new 15-year absolute NNN lease with 1.5% annual rent increases, ensuring consistent income growth and inflation hedging. The tenant recently completed over $5 million in renovations to the building, which was originally constructed in 1974 and fully renovated in 2022. The property sits on a substantial 2.63-acre lot with 254 parking spaces and enjoys exceptional visibility, benefiting from over 40 million annual visitors to the Las Vegas Strip. Its prime location offers easy access from major hotels and casinos, as well as Interstate 15, a major artery with 325,000 vehicles passing daily. The property's C-2 zoning allows for general commercial use. The current Net Operating Income (NOI) is $1,440,000, representing an 8% cap rate on the $18,000,000 asking price. The strong demographics of the 5-mile trade area, with over 506,800 residents and 457,800 employees, further enhance the investment's appeal. This is a truly unique opportunity to acquire a high-performing, low-maintenance asset in one of the world's most dynamic entertainment destinations. The property's parcel number is 162-03-210-090. The average household income within the 5-mile radius is $61,259.