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DOM: 313 Updated: 07.03.24 Posted: 07.03.24 Status: Active

Summary

Price $18,000,000
Built/Renov 1974/2022
Tenant Peppermint Hippo
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 24,980
Lease Start 09-01-2024
#Units 8
Price/SF $720.58
Expiration 08-31-2039
Tenant Type General Retail
NOI $1,440,000
R. Term 14.3
Ownership Fee Simple
Rent/SF $57.65
Increases 1.5%/1/yrs
Pop 5Mi 506,867
Lot/AC 2.63
Options 0/0yrs
AHHI 5Mi $61,259

Lease Highlights

  • Brand new 15-year lease with options TBD
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Peppermint Hippo is strategically located on Las Vegas Boulevard South, famously known as the Las Vegas Strip, with access to a substantial daily traffic count of 72,000 vehicles. The Strip attracted over 40 million visitors in 2023, and the property ranks in the 98th percentile nationwide among adult entertainment venues, with over 115,000 annual visitors (according to Placer.ai).Moreover, it...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Peppermint Hippo
  • Guarantor:Corporate
  • Company:Peppermint Hippo
  • # Units:8
  • Stock:Private

About Tenant

Peppermint Hippo is a premier entertainment company that offers an unparalleled experience for patrons, with state-of-the-art sound and lighting systems, luxurious VIP areas, and exceptional...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 16,130 180,485 523,702
2024 Total Population : 15,415 172,778 507,411
2024 Employed Civilian Pop : 7,417 79,804 231,459
2024 Total Businesses : 2,244 13,018 25,495
2024 Average Household Income : $ 79,062 $ 64,903 $ 67,950
2024 Total Consumer Spending : $ 528 M $ 4249 M $ 11776 M
2024 Median Age : 42 38 37
2024 Total Households : 7,531 73,024 193,469
2024 Pop Age 25+: Bachelor's Degree : 1,896 14,590 36,383
2024 Average Home Value : $ 560,184 $ 475,549 $ 408,243
*ESRI data is presented for informational purposes only

Listing Broker

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