5230 Blue Diamond Rd Las Vegas, NV 89139

Property Details for 5230 Blue Diamond Rd

Lot size

3.17 lot acres

Property type

Industrial land

APN

176-13-801-047

APU

17613801047

Description

This exceptional investment opportunity presents a newly constructed, 5,187 square foot Circle K convenience store situated on a 1.14-acre lot in Las Vegas, Nevada. The property boasts a 20.1-year absolute NNN ground lease, commencing March 9, 2023, and expiring March 31, 2043, with a substantial remaining term of 18.4 years. Located at 5230 Blue Diamond Rd (SR 160), this high-traffic location sees over 55,900 vehicles per day. The property features a 5,000+ square foot convenience store and 16 fuel pumps. The lease includes a 5% rent increase every five years, providing consistent growth and minimizing landlord responsibilities. This investment offers a 4.20% cap rate with a net operating income (NOI) of $190,000 and an asking price of $4,523,000 ($871.99/sq ft). The property benefits from its location in the affluent Summerlin/Southern Highlands area, with an average household income of $117,837, and is shadow anchored by Albertsons and Target. Circle K, a subsidiary of Couche-Tard (ATD.TO), operates over 15,000 stores globally, providing financial strength and stability. This is an ideal investment for those seeking long-term, passive income with built-in rent escalations and minimal landlord duties. The property's prime location and strong tenant make it a compelling investment opportunity in a rapidly growing market.