Paradise Pet Hospital | 1060 E Flamingo Rd
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Paradise Pet Hospital 1060 E Flamingo Rd
4,980 SF Office Building Las Vegas, NV 89119 $1,016,730 CAD ($204 CAD/SF) 7.55% Cap Rate
Investment Highlights
- Single-medical office on a 0.38-acre lot w/premium frontage on high traffic road with over 55k vehicles per day
- Recession-resistant property in the thriving pet healthcare industry
- Outstanding visibility and accessibility with impressive traffic counts
- Passive investment with a 7.55% cap rate via NNN lease arrangement with successful pet hospital business
- Rarely relocated tenant type due to patient retention and investment in location
- Suited for investors seeking stability and long-term leases
Executive Summary
WOW! 7.55% High Cap Rate, low cost CRE investment • OWN THE BLDG, LEASE THE LAND, & BECOME A LESSOR TO SUCCESSFUL PET HOSPITAL LESSEE • SERIOUS INQUIRIES ONLY • Pet Medic Lease - Lease Commencement: Jan 12, 2024 • Lease Expiration: Nov 20, 2029 • Two 5-yr options to renew remaining (Expiration with options: Nov. 20, 2039) • $5k/mo base w/ 3% annual increases • Guarantee in place • 4+ locations • Pet Medic pays all bldg operating expenses. PLUS Pet Medic also pays: ***Ground Lease - Lease Commencement: July 1, 2002 • Lease Expiration: June 30, 2046 (Expiration with options: June 30, 2066) • Four 5-yr options to renew remaining • $3,991.88/mo w/ 3% annual increases • Guarantee in place • Owner simply collects $5k/mo, Pet Medic tenant handles everything else. ***GROUND RENT TAX DEDUCTIBLE*** (consult your tax advisor)
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Building Size
4,980 SF
Building Class
B
Year Built
2002
Price
$1,016,730 CAD
Price Per SF
$204 CAD
Cap Rate
7.55%
NOI
$76,763 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,980 SF
Building FAR
0.12
Lot Size
0.96 AC
Zoning
CG, Clark County - Accommodates traditional commercial uses & allows for transitions over time to a mix of retail, commercial, & mixed-use developments.
Parking
25 Spaces (5.02 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Paradise Pet Hospital
- Professional, Scientific, and Technical Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Paradise Pet Hospital | Professional, Scientific, and Technical Services | 99,999 SF | $9.99 | Lorem Ipsum | - |
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Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 162-15-805-007 | Improvements Assessment | $311,799 CAD |
| Land Assessment | $186,655 CAD | Total Assessment | $498,454 CAD |
PROPERTY TAXES
Parcel Number
162-15-805-007
Land Assessment
$186,655 CAD
Improvements Assessment
$311,799 CAD
Total Assessment
$498,454 CAD
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Paradise Pet Hospital | 1060 E Flamingo Rd
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