FOR SALE 3229 N PECOS ROAD | LAS VEGAS, NEVADA - *This is a not the subject property just a similar picture of what a typical rendering of a store.
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FOR SALE
15-YEAR GROUND LEASE
3229 N PECOS ROAD | LAS VEGAS, NEVADA
*This is a not the subject property just a similar picture of what a typical rendering of a store.
TABLE OF CONTENTS
investment summary................................................... 4
property photos............................................................ 6
area overview................................................................. 8
tenant profile & lease................................................. 10
confidentiality agreement....................................... 12
MARKETING PACKAGE PREPARED BY:
This Offering Memorandum contains select information pertaining to the business and affairs of 3220 North Pecos Road, Las
Vegas, NV. It has been prepared by Avison Young. This Offering Memorandum may not be all-inclusive or contain all of the
information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and
furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose
or made available to any other person without the written consent of Seller or Avison Young. The material is based in part upon DAVID MALING
information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor Principal
PROPERTY DESCRIPTION
their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness
or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto.
+1 213 618 3825
Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material david.maling@avisonyoung.com
contained herein and conduct their own due diligence. Lic. 01139115
By acknowledging your receipt of this Offering Memorandum from Avison Young, you agree:
1. The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents
in any fashion or manner detrimental to the interest of the Seller.
Owner and Avison Young expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers
CHRIS MALING
to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making Principal
an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully +1 213 618 3824
executed and delivered.
chris.maling@avisonyoung.com
If you wish not to pursue negotiations leading to the acquisition of 3220 North Pecos Road, Las Vegas, NV or in the future you Lic. 00823957
discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information LOCAL BROKER OF RECORD (NEVADA):
provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase
Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against RICHARD OROSEL
Seller or Avison Young or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or Vice President
agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
+1 702 637 7289
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that richard.orosel@avisonyoung.com
there has been no change in the state of affairs of the Property since the date this Offering Memorandum.
Lic. S.0183602
555 S. Flower Street, Suite 3200 | Los Angeles, CA 90071
Local Demographics & Traffic Counts
*Disclaimer: All photos in Offering Memorandum are of similar Circle K models. Subject propertyHarbor Frwy/
to be delivered in Transit Wayare&bound
2021. Photos W 1st Street SW - ±296,615 VPD
to copyright. Walk Score - Very Walkable (82)
SITE PLAN OF ACTUAL STORE TO BE BUILT
3229 N PECOS ROAD | LAS VEGAS, NEVADA
15 - Y E A R
GROUND LEASE
INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS
• Brand New 15-Year Ground Lease
OFFERING PRICE $3,550,000
• New Construction with 2021 Completion Date
• Signalized Corner Location w/ Ample Street Visibility and Multiple Ingress/Egress
CAP RATE 4.9%
• Located in Las Vegas, the 28th Most Populated City in the United States and the Most
Populated City in the State of Nevada
LEASE STRUCTURE NNN
•
CIRCLE K - CHEYENNE AVE. & PECO
Nearby Neighborhood Shopping Centers & National Credit Retailers: Wendy’s, Autozone,
LEASE START DATE August 1, 2021
LANDSCAPE
Dollar General, 99 Cents Only Stores, Domino’s Pizza, Jack PLAN
in the Box, Walgreens, and More!
• Absolute NNN lease with Zero Landlord Expense SHEET
• Seller will credit the buyer from the close of escrow until rent commencement the monthly
LEASE EXPIRATION DATE July 31, 2036
rent per the lease. Therefore, extending the lease period more than 15 years. La
SHEET
PROPERTY ADDRESS 3220 North Pecos Road
Las Vegas, Nevada 89115
DETAILS
PARCEL NUMBER 140-07-406-001
PROPERTY TYPE Circle K Ground Lease
BUILDING AREA ±5,187 SF Convenienve Store &
±4,464 SF Fueling Canopy
LAND AREA ±1.68 AC
ZONING R-E
YEAR BUILT Coming 2021
TENANT OVERVIEW
LEASE ABSTRACT
Address 3220 North Pecos Road, Las Vegas, NV 89115
Building Size ±5,187 SF Convenience Store &
±4,464 SF Fueling Canopy
Lease Commencement August 1, 2021
Lease Expiration July 31, 2036
Lease Term 15 Year Ground Lease
Couche-Tard is the leader in the Canadian con-
Base Rent (2021) $14,583.33/Month or $175,000/Year venience store industry. In the United States, it
is the largest independent convenience store
Increases 5.0% Every 5 Years operator in terms of the number of compa-
ny-operated stores. In Europe, Couche-Tard is a
Options to Extend Nine (9) Options for 5 Years Each
leader in convenience store and road transpor-
Tenant Pays Taxes, Insurance, Maintenance & Utilities tation fuel retail in the Scandinavian countries
(Norway, Sweden and Denmark), in the Baltic
Lease Type NNN countries (Estonia, Latvia and Lithuania), as
well as in Ireland, and has an important pres- Circle K’s success in the convenience retailing indus-
Guarantor Circle K Stores, Inc. a Texas Corporation ence in Poland. try spans more than 60 years. Our roots trace back to
1951 when Fred Hervey purchased three Kay’s Food
As of July 19, 2020, Couche-Tard’s network Stores in El Paso, Texas. Little did anyone know that
*Based on the structure of the lease, there is zero landlord expense including roof, wall and structure.
comprised 9,274 convenience stores through- these stores would serve as the beginning of Circle K.
*Circle K has First Right of Refusal to purchase the property.
*Seller turned over the property to Circle K and the have confirmed delivery in writing. out North America, including 8,088 stores with
road transportation fuel dispensing. Its North During the next few decades, Circle K grew its re-
*Building Permits are scheduled to be pulled January 15, 2021
American network consists of 18 business tail network through a series of acquisitions, which
*Construction is scheduled to commence February 1, 2021
units, including 14 in the United States cover- were incorporated into the Circle K brand. By 1975,
*Certificate of Occupancy is scheduled for June 30, 2021
ing 47 states and 4 in Canada covering all 10 there were 1,000 Circle K stores across the U.S. The
provinces. Approximately 109,000 people are company’s growth continued and by 1984, sales had
employed throughout its network and at its reached $1 billion.
service offices in North America.
In 2003, Circle K was acquired by Alimentation
Couche-Tard is a Canadian company which Couche-Tard, which developed the chain into a glob-
shares are listed on the Toronto Stock Ex- al brand represented in over 20 countries.
change (TSX: ATD.A) (TSX: ATD.B).and at its
service offices in North America.
N PECOS ROAD ±17,00 9 VPD
5
6
SUBJECT PROPERTY
NEARBY AMENITIES
9
1 2 1
Lucky Club Hotel &
9
Dollar General, Siam
7 Casino Garden, Gas 4 Less
10
E CHEYE NNE AVENU E ±34,99 6 VPD 7-Eleven, Dottys #111,
8 2 Real Donuts, Inc, NAPA 10 Jack in the Box
3 Auto Parks
11
Family Dollar,
V PD
1 Mariana’s 99 Cents Only Stores,
8 ,00 3
Supermarket, Taco
11
O’Reilly Auto Parts,
4 ±1 Bell, Panda Express, Citi Trends, Domino’s
Subway, Teriyaki Boy Pizza
12
Healthy Grill
N
RD Lincoln Elementary
7-Eleven, Roberto’s
E VA 4
School
12 Taco Shop, Pizza Hut,
L 13 Sofia’s Pizza
B OU
College of Southern
G AS 5 Nevada North Las 13
Walgreens,
S VE Vegas
McDonald’s
14 LA Chruch’s Chicken,
Cheyenne Sports
6 14 Chamango Mexican
Complex
Snacks
7 AutoZone Auto Parts 15 U-Haul, 7-Eleven
La Bonita
15 Supermarkets, Little
8 Wendy’s 16
Caesars Pizza, Dollar
General
16
LAS VEGAS, NEVADA
5-MILE DEMOGRAPHICS
is the 28th-most populated city in the United States, the most populated city in the state of Nevada, 483,287 $53,959
and the county seat of Clark County. The city anchors the Las Vegas Valley metropolitan area and is POPULATION AVERAGE HOUSEHOLD INCOME
the largest city within the greater Mojave Desert.[7] Las Vegas is an internationally renowned major
resort city, known primarily for its gambling, shopping, fine dining, entertainment, and nightlife. The
Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada.
8.20% 135,612
POPULATION GROWTH 2020-2025 HOUSEHOLDS
The city bills itself as The Entertainment Capital of the World, and is famous for its mega casino-hotels
and associated activities. It is a top three destination in the United States for business conventions and
a global leader in the hospitality industry, claiming more AAA Five Diamond hotels than any other
city in the world.[8][9][10] Today, Las Vegas annually ranks as one of the world’s most visited tourist 3.63% 58.11% 48.57% 51.43%
destinations.[11][12] The city’s tolerance for numerous forms of adult entertainment earned it the title UNEMPLOYED EMPLOYED OWNER RENTER
of “Sin City”,[13] and has made Las Vegas a popular setting for literature, films, television programs, and EMPLOYMENT OCCUPIED HOUSING UNITS
music videos.
© Wikipedia
SUBJECT PROPERTY
MARKETING PACKAGE PREPARED BY:
CHRIS MALING
Principal
License No. 00823957
213.618.3824
chris.maling@avisonyoung.com
DAVID MALING
Principal
License No: 01139115
213.618.3825
david.maling@avisonyoung.com
LOCAL BROKER OF RECORD (NEVADA):
RICHARD OROSEL
Vice President
License No: S.0183602
702.637.7289
richard.orosel@avisonyoung.com
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