OFFERING MEMORANDUM
OFFERING MEMORANDUM TABLE OF CONTENTS Investment Highlights 3 Property Summary 4 Property Information 5 Property Photos 6-10 SITE Tenant Overview 11-12 Location Overview 13 Area Profile 14 2
INVESTMENT HIGHLIGHTS STABLE INCOME EASE OF MANAGEMENT: Minimal Management Responsobilities Attractive Rental Increases Monument Signage on N. Durango Dr. Long term tenants in place PROPERTY OVERVIEW: This offering includes a 19,844 square foot class A Multi Tenant Net Leased Retail Investment (Oso Blanca Pavilions) with 100% occupancy located in Northwest Las Vegas. This property is perfectly positioned on the Northwest corner of North Durango Dr. and Oso Blanca Rd. right of the US 95 Durango Interchange. Newly constructed in 2017 with majority of the Tenants committed to long term leases. Tenants include: Goodyear, SMI Imaging, Capriotti s Sandwich Shop, Marco s Pizza, Frozen Flog, Cricket Wireless and Burgerim. This net leased investment is perfect for an investor looking for a stable income property with minimal management responsibilities. EXCELLENT RETAIL LOCATION STRONG DEMOGRAPHICS: Irreplaceable Street Visibility on N. Durango Dr. Main Retail Corridor for Northwest Las Vegas HIghly Desired Retail Location In close proximity adjacent to National Credit Tenants and Centennial Hills Hospital Positioned just West of the US-95/Durango Interchange PERFECT 1031 EXCHANGE PROPERTY: Pride of Ownership Strong Northwest Las Vegas Retail Location Rare Opportunity to Own a Class A Multi-Tenant Retail Center Brand New 2017 Construction 3
PROPERTY SUMMARY Property Summary Property Name Property Address Oso Blanca Pavillions 7540 Oso Blanca Rd Las Vegas, NV 89149 Occupany 100% Number of Tenants 8 Building Size Land Area 19,844 SF 4.43 Acres Parcel Number 125-17-314-004 Construction Year 2017 Lease Type Market Zoning NNN Northwest Las Vegas T-C 4
PROPERTY INFORMATION ADDRESS 7540 Oso Blanca Rd. Las Vegas, NV 89149 MARKET / SUBMARKET Northwest Las Vegas PRICE $7,900,000 CURRENT NOI $513,774 CAP RATE 6.5% PARCEL 125-17-314-004 BUILDING AREA 19,844 SF LAND AREA 4.43 Acres VISIBILITY AND FRONTAGE Excellent visibility YEAR BUILT/RENOVATED Built in 2017 5
PHOTOS 6
PROPERTY AERIAL 7
PROPERTY AERIAL 8
PROPERTY AERIAL 9
SITE PLAN 10
TENANT OVERVIEW The Goodyear Tire & Rubber Company, headquartered in Akron, Ohio, is one of the world s leading tire companies, with operations in most regions of the world and one of the most recognized brand names in the world. Together with its US and international subsidiaries, Goodyear develops, manufactures, markets and distributes tires for most applications. It also manufactures and markets rubberrelated chemicals for various applications. Goodyear is one of the world s largest operators of commercial truck service and tire retreading centers. In addition, it operates approximately 1,100 tire and auto service center outlets where it offers its products for retail sale and provides automotive repair and other services. Goodyear manufactures its products in 48 facilities in 21 countries and has marketing operations in almost every country around the world. We employ approximately 66,000 fulltime and temporary associates worldwide. SimonMed Imaging is one of the largest outpatient medical imaging providers and largest physician radiology practices in the United States. We specialize in using the newest diagnostic imaging technologies and bringing them to the community in an affordable and accessible way. Our logo See Tomorrow Today recognizes that new technology can help provide a more accurate diagnosis but needs to be readily available and affordable. In our physician practice we stress the importance of subspecialty work in order to use this technology in combination with clinical experience to provide the best care. We maintain an active continuing medical education program for our medical communities so that they can share in this goal. Is an American prepaid wireless service provider in the United States. Cricket Wireless is a wholly owned subsidiary of AT&T Inc. that offers mobile voice, text, and data. Cricket Wireless was founded in 1999 by Leap Wireless International, Inc. A full service nail salon offering Acrylic, Gel, Pedicure, Waxing, Facial & Lash Extension. 11
TENANT OVERVIEW Capriotti s is a Las Vegas-based fast casual restaurant chain located in the United States. The restaurant chain was founded in Wilmington, Delaware in 1976. Capriotti s has 106 companyowned and franchise locations in 16 states, including the District of Columbia. The Frozen Frog offers Dole Whip, Gourmet Popcorn & Shave ice with over 60 fl avors to choose from. The Frozen Frog is a locally owned company founded in August 2012. Marco s Pizza is a restaurant chain and interstate franchise based in Toledo, Ohio, that specializes in Italian-American cuisine. As of mid-2017, there are more than 800 franchised Marco s Pizza locations in 34 states and Puerto Rico as well as the Bahamas, and India. Most recently, it was announced that Marco s Pizza has doubled its size and expects to open its 1000th store by the end of 2018. Burgerim an international fast casual franchise with a shiny new concept. Bursting with fl avor, our gourmet burgers apply a unique approach to kicking all of your cravings in one meal. Choose from an uno, duo, trio, or 16 pack of our gourmet 2.8 oz. patties and customize each one. With a variety of buns, signature sauces. 12
LOCATION OVERVIEW POPULATION 1-MILE 3-MILE 5-MILE Estimated Population (2016) 10,879 96,782 221,458 Projected Population (2021) 12,341 106,454 242,907 Historical Annual Growth 2010-2015 1,695 3.1% 15,332 3.1% 19,554 1.6% Projected Annual Growth 2015-2020 1,462 2.7% 9,675 2.0% 21,449 1.5% HOUSEHOLDS 1-MILE 3-MILE 5-MILE LOCATION OVERVIEW: This Multi-Tenant Retail Building is located in Northwest Las Vegas and is perfectly positioned on the signalized hard corner of N. Durango Drive and Oso Blanca Road right off the US 95 Durango Interchange. This retail center also enjoys easy access to the I-215 Freeway, Downtown Las Vegas and The Strip. The Northwest sub market has the Las Vegas Valley s second lowest retail vacancy rate currently at 7.4 percent. Notable retail Tenants in the immediate area include: Smith s, Home Goods, Kohl s, PetSmart, TJ Maxx, Dollar Tree, Wells Fargo Bank, Offi ce Depot, Bank of America and many more. This Northwest area of town has quickly become a vibrant commercial destination with a strong retail demand generator. Estimated Households (2016) 4,145 36,349 84,697 Projected Households (2021) 4,539 38,610 89,817 Historical Annual Change 2000-2016 3,341 25.9% 25,024 13.8% 46,229 7.5% Projected Annual Growth 2016-2021 394 1.9% 2,261 1.2% 5,121 1.2% INCOME 1-MILE 3-MILE 5-MILE Avg. Household Income 2016 $80,161 $86,804 $82,691 Median Household Income 2016 $71,851 $76,799 $71,912 DAYTIME DEMOS 1-MILE 3-MILE 5-MILE Total # of Businesses 2016 327 1,826 4,244 Total # of Employees 2016 3,116 15,214 34,512 Employee Pop per Business 9.5 to 1 8.3 to 1 8.1 to 1 Residential Pop per Business 33.3 to 1 53.0 to 1 52.2 to 1 13
AREA PROFILE Las Vegas is the most populous city in the U.S. state of Nevada and the county seat of Clark County. Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, and fine dining and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its consolidated casino hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 31st-most populous city in the United States, with a population at the 2014 census of 583,756. The 2014 population of the Las Vegas metropolitan area was 2,027,868. Today, Las Vegas is one of the top tourist destinations in the world. Established in 1905, Las Vegas was incorporated as a city in 1911. Las Vegas often refers to the city plus some areas beyond the city limits, especially the resort areas on and near the Las Vegas Strip, and sometimes the entire Las Vegas Valley. The 4.2 mi (6.8 km) stretch of South Las Vegas Boulevard known as the Strip is mainly in the unincorporated communities of Paradise, Winchester, and Enterprise. Las Vegas is situated within Clark County in an arid basin on the desert floor, surrounded by dry mountains. The Spring Mountains lie to the west. Within the city there are many lawns, trees, and other greenery. The city enjoys abundant sunshine year round: it has an average of about 300 sunny days per year. The primary drivers of the Las Vegas economy are tourism, gaming and conventions, which in turn feed the retail and restaurant Industries. In the second quarter of 2012, something new was on the horizon for Downtown Las Vegas. Tony Hsieh, CEO of Zappos, purchased the former City Hall building, thus turning that property into Zappos corporate headquarters in Downtown Las Vegas. Since then Mr. Hsieh has put in a lot of money and effort revitalizing Downtown Las Vegas which is known as the Downtown Project. This recent project has transformed Downtown, bringing new restaurants, retail, tech buildings, annual, monthly and weekly events and a large park made out of shipping containers (Container Park) which has an outdoor hangout space that offers shopping, restaurants and a small outdoor concert venue. The Downtown project has changed Downtown Las Vegas and has increased the number of local and out of town visitors to the many events, restaurants and retail shops this area has to offer. 14