loader
Join Free
DOM: 222 Updated: 04.29.24 Posted: 06.21.23 Status: Sold 01.29.24

Summary

Price $5,470,000 $5,903,000
Built/Renov 2006/2022
Tenant Primrose Schools
Cap Rate 7.55% 7.00%
Lease Type NN+
Guarantor Franchisee
Size/SF 12,634
Lease Start 07-08-2022
#Units 2
Price/SF $432.96 $467.23
Expiration 09-30-2042
Tenant Type Daycare/Education
NOI $413,198
R. Term 17.4
Ownership Fee Simple
Rent/SF $32.71
Increases 2.0%/1/yrs
Pop 5Mi 301,920
Lot/AC 2.50
Options 3/5yrs/2%
AHHI 5Mi $119,799

Lease Highlights

  • Primrose Schools recently signed a brand new 20 year lease with 3 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for structure
  • Personal guarantee by Ideakann LLC.

Location Description

The site is strategically located off Silverado Ranch Blvd., a major thoroughfare averaging over 44,000 vehicles per day. The asset also benefits from excellent visibility via significant street frontage and has multiple points of ingress/egress. Furthermore, the asset is ideally situated across the street from John R Hummel Elementary School (636 students), providing parents with an easy...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Primrose Schools
  • Guarantor:Franchisee
  • Company:Ideakann, LLC
  • # Units:2
  • Stock:Private

About Tenant

Primrose Schools is a national system of accredited early childhood education centers. Primrose offers full private childhood education and care for children ages 6 weeks to 6 years and...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 21,433 151,328 319,675
2023 Total Population : 20,235 143,258 306,014
2023 Employed Civilian Pop : 11,183 75,274 158,321
2023 Total Businesses : 340 3,426 9,590
2023 Average Household Income : $ 98,076 $ 108,609 $ 118,304
2023 Total Consumer Spending : $ 698 M $ 5349 M $ 12076 M
2023 Median Age : 37 37 38
2023 Total Households : 8,204 56,984 118,543
2023 Pop Age 25+: Bachelor's Degree : 3,462 24,379 56,353
2023 Average Home Value : $ 410,912 $ 452,703 $ 478,802
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Pyle Avenue Giles St 2021 4,800 0.57 mi
Gilespie Street E Cactus Ave 2021 1,400 0.71 mi
E Gomer Rd Giles St 2017 30,000 0.72 mi
Bermuda Rd E Serene Ave 2017 16,000 0.77 mi
South Las Vegas Boulevard E Frias Ave 2021 11,800 0.79 mi
East Cactus Avenue Unpaved 2021 13,600 0.92 mi
W Silverado Ranch Blvd Las Vegas Blvd S 2004 9,350 0.97 mi
Bermuda Rd E Arbor Hills Ave 2004 11,300 0.97 mi
Las Vegas Blvd S E Richmar Ave 2017 21,000 1.01 mi
West Silverado Ranch Boulevard Parvin St 2021 48,500 1.03 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity