Las Vegas Blvd Nightclub | Long Term NNN 1531 S Las Vegas Blvd

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, recently remodeled, freestanding, Peppermint Hippo investment property located along the world famous Las Vegas Strip. The tenant recently executed a brand new 15-year lease, with options to extend, demonstrating their commitment to the site. The lease will feature 1.50% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Additionally, the tenant currently has two sub-tenants in-place (Boston Pizza Vegas & AT&T Cell Tower) and has an offer to sublease the 2nd Floor space for a nightclub or comedy use with a separate entrance, this additional income for the tenant helps offset the master lease rent and provides for a lower occupancy cost (Contact Agent / See Page 7 for Details). Peppermint Hippo is a premier entertainment company with a strong presence across the United States. With 9 locations across the country, including in Las Vegas and Reno, Peppermint Hippo has established itself as a leader in the entertainment industry. This offering also represents a rare opportunity to acquire a large 2.63-acre parcel that is located within a dense, infill area with high barriers for new development. Lastly, the property was also recently remodeled in 2022 with tenant spending over $5M in improvements.