Available For Sale - Retail

7,228 SF | Show Pricing $

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LISTED BY

Christina Strickland
CBRE, 702-369-4864

Availability Details

Size
7,228 SF
Price/SF
Show Pricing $
Listing ID
SA415763
Notes
• Opportunity to Sell Del Taco Pad – Tropicana Centre consists of an inline strip center and a freestanding Del Taco pad on a separate parcel; a new owner can purchase and spin off the Del Taco pad individually to take advantage of ultra-aggressive cap rates on single tenant NNN fast food cap rates and lower their basis in the portfolio

• Below Market Rents – In-place rents at Tropicana Centre (excluding Del Taco) are just $1.71 PSF NNN, providing an opportunity for a new owner to substantially grow rents as leases expire

• Established Grocery and Pharmacy Destination – Shadow-anchored by Albertson’s (NAP) and CVS (NAP), Tropicana Centre has established itself as a dominant grocery and drug anchored center that caters to the surrounding trade area, creating a “daily-needs” draw to the property and providing a constant flow of customers to the inline shop tenants

• Central Location in an Infill Part of Las Vegas – Tropicana Avenue (43,000 CPD) and Jones Boulevard (35,000 CPD) are two of the major commercial thoroughfares that run throughout Las Vegas and provide immediate access to the Las Vegas strip, commercial districts, and residential communities that surround the property

• Del Taco has been operating at Tropicana Centre since the property was developed in 1997; their current lease term expires December 2021, which is anticipated to provide for a sizeable rental increase, assuming Del Taco exercises their option to renew
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Christina Strickland, CBRE