Auto Service - Gas-Conv
Circle K
5010 E Tropicana Ave, Las Vegas, NV 89122
Listing Price: $2,380,533
Investment Overview
The subject property is a single-tenant Corporate Guaranteed Circle K net leased asset positioned at the signalized, hard corner intersection of East Tropicana Avenue and South Nellis Boulevard in Las Vegas, Nevada. The intersection boasts traffic counts in excess of 32,000 vehicles per day and is approximately 6-miles east of the MGM Grand and the Las Vegas Strip, and approximately 4.6-miles from Harry Reid International Airport. Retail in the immediate area consists of two shopping centers with a mix of local and national tenants including El Pollo Loco, O’Reilly Auto Parts, 99 Cents Only, and Little Caesars among others. Other retailers at the intersection include 7-Eleven, AutoZone, Sonic Drive-In, Dollar Tree, and Napa Auto Parts. A short distance to the north is a Walmart Supercenter and to the east an Albertson’s anchored shopping center.
Further enhancing the area is a high concentration of residential, quick access to Interstate 515, and three casinos and hotels: Eastside Cannery, Sam’s Town, and Longhorn. Most notably the Nevada Department of Transportation (NDOT) began construction on a $26-million, 10-mile upgrade of Nellis Boulevard between Tropicana Avenue and Craig Road. The enhancements will rejuvenate a heavily traveled urban arterial averaging 34,340 vehicles per day. Work began on the project in the Fall of 2020 and is anticipated for completion by mid-2022. (source: www.dot.nv.gov)
Built in 1988, the property consists of an approximate 2,800-square foot retail building* situated on approximately 0.66 acres of land*. The lease is Absolute Triple Net (NNN) in nature with zero landlord repair and maintenance responsibilities whatsoever and contains six remaining renewal option periods structured as Four 5-year options, and Two 10-year options with fixed rental increases at each option period. Circle K is currently in their first 5-year renewal option with their next 5-year renewal option scheduled for a 10% rental increase.
Las Vegas is Nevada’s largest city and the world’s premier tourist destination. With its five-star resorts, world-class restaurants and shopping, unrivaled entertainment and a city that’s open 24/7, it’s truly one-of-a-kind. Taking entertainment to the next level, Las Vegas is home to the Formula 1 Las Vegas Grand Prix in November 2023, a truly unforgettable race through the heart of the city and this first-class destination. (source: www.travelnevada.com, www.f1lasvegasgp.com)
* Buyer to verify the accuracy of these figures during their Due Diligence Period
Investment Highlights
- Circle K Corporate Guarantee (Alimentation Couche-Tard), S&P Rating BBB
- Absolute Triple Net (NNN) Lease
- Scheduled 10% Rental Increase at next Renewal Option Period
- Approximately 6-miles East of the MGM Grand and Las Vegas Strip
- Less than 5-miles from Harry Reid International Airport
- Seasoned Location in a Dense Infill Area
- Average Household Income of $65,218 Within a Three-Mile Radius
Exclusively Listed By
Listing Price: $2,380,533
Investment Highlights
- Circle K Corporate Guarantee (Alimentation Couche-Tard), S&P Rating BBB
- Absolute Triple Net (NNN) Lease
- Scheduled 10% Rental Increase at next Renewal Option Period
- Approximately 6-miles East of the MGM Grand and Las Vegas Strip
- Less than 5-miles from Harry Reid International Airport
- Seasoned Location in a Dense Infill Area
- Average Household Income of $65,218 Within a Three-Mile Radius
Investment Overview
The subject property is a single-tenant Corporate Guaranteed Circle K net leased asset positioned at the signalized, hard corner intersection of East Tropicana Avenue and South Nellis Boulevard in Las Vegas, Nevada. The intersection boasts traffic counts in excess of 32,000 vehicles per day and is approximately 6-miles east of the MGM Grand and the Las Vegas Strip, and approximately 4.6-miles from Harry Reid International Airport. Retail in the immediate area consists of two shopping centers with a mix of local and national tenants including El Pollo Loco, O’Reilly Auto Parts, 99 Cents Only, and Little Caesars among others. Other retailers at the intersection include 7-Eleven, AutoZone, Sonic Drive-In, Dollar Tree, and Napa Auto Parts. A short distance to the north is a Walmart Supercenter and to the east an Albertson’s anchored shopping center. Further enhancing the area is a high concentration of residential, quick access to Interstate 515, and three casinos and hotels: Eastside Cannery, Sam’s Town, and Longhorn. Most notably the Nevada Department of Transportation (NDOT) began construction on a $26-million, 10-mile upgrade of Nellis Boulevard between Tropicana Avenue and Craig Road. The enhancements will rejuvenate a heavily traveled urban arterial averaging 34,340 vehicles per day. Work began on the project in the Fall of 2020 and is anticipated for completion by mid-2022. (source: www.dot.nv.gov) Built in 1988, the property consists of an approximate 2,800-square foot retail building* situated on approximately 0.66 acres of land*. The lease is Absolute Triple Net (NNN) in nature with zero landlord repair and maintenance responsibilities whatsoever and contains six remaining renewal option periods structured as Four 5-year options, and Two 10-year options with fixed rental increases at each option period. Circle K is currently in their first 5-year renewal option with their next 5-year renewal option scheduled for a 10% rental increase. Las Vegas is Nevada’s largest city and the world’s premier tourist destination. With its five-star resorts, world-class restaurants and shopping, unrivaled entertainment and a city that’s open 24/7, it’s truly one-of-a-kind. Taking entertainment to the next level, Las Vegas is home to the Formula 1 Las Vegas Grand Prix in November 2023, a truly unforgettable race through the heart of the city and this first-class destination. (source: www.travelnevada.com, www.f1lasvegasgp.com) * Buyer to verify the accuracy of these figures during their Due Diligence Period
Exclusively Listed By

