1060 E Flamingo Rd - Medical FOR SALE


Las Vegas, NV 89119
$715,000 USD
702-273-7377
1060 E Flamingo Rd, Las Vegas, NV for Sale
$715,000 USD
Medical - FOR SALE
1/11
null | 7.55% Cap Rate

1060 E Flamingo Rd
Las Vegas, NV 89119


HIGHLIGHTS

  • Single-medical office on a 0.38-acre lot w/premium frontage on high traffic road with over 55k vehicles per day
  • Passive investment with a 7.55% cap rate via NNN lease arrangement with successful pet hospital business
  • Recession-resistant property in the thriving pet healthcare industry
  • Rarely relocated tenant type due to patient retention and investment in location
  • Outstanding visibility and accessibility with impressive traffic counts
  • Suited for investors seeking stability and long-term leases

OVERVIEW

WOW! 7.55% High Cap Rate, low cost CRE investment •  OWN THE BLDG, LEASE THE LAND, & BECOME A LESSOR TO SUCCESSFUL PET HOSPITAL LESSEE • SERIOUS INQUIRIES ONLY • Pet Medic Lease - Lease Commencement: Jan 12, 2024 • Lease Expiration: Nov 20, 2029 • Two 5-yr options to renew remaining (Expiration with options: Nov. 20, 2039) • $5k/mo base w/ 3% annual increases • Guarantee in place • 4+ locations • Pet Medic pays all bldg operating expenses. PLUS Pet Medic also pays: ***Ground Lease - Lease Commencement: July 1, 2002 • Lease Expiration: June 30, 2046 (Expiration with options: June 30, 2066) • Four 5-yr options to renew remaining • $3,991.88/mo w/ 3% annual increases • Guarantee in place • Owner simply collects $5k/mo, Pet Medic tenant handles everything else. ***GROUND RENT TAX DEDUCTIBLE*** (consult your tax advisor)

FOR SALE DETAILS

PRICE

$715,000 USD

PRICE/SF

$144 USD /SF

CAP RATE

7.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Paradise Pet Hospital

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Freestanding, Veterinarian/Kennel

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

CG, Clark County

APN/PARCEL ID

162-15-805-007

ASK ABOUT THIS PROPERTY

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702-273-7377

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702-273-7377

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