Rally's NNN Property For Sale — Las Vegas, NV
6408 W Cheyenne Ave, Las Vegas, NV 89108
This is an opportunity to acquire a fee simple interest in an absolute NNN, drive-thru equipped Rally's property in North Las Vegas, Nevada. The tenant recently signed a new 15-year lease, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term, providing 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 in an income tax-free state. Founded in 1985, Rally's operates 878 Checkers and Rally’s restaurants in 28 states as of 2022. The property is located near the signalized, hard-corner intersection of Cheyenne Ave. and Torrey Pines Drive, which serves over 52,000 vehicles per da…
- Address: 6408 W Cheyenne Ave, Las Vegas, NV 89108
- Asking price $1.91M
- 5.25% cap rate
- NOI $100,000
- 15 years remaining
- NNN lease
- Building size: 612 SF
- Lot size: 0.44 acres
- Rent increases: 10% every 5 years
- Guarantor: Corporate
Location
This Rally's property is at 6408 W Cheyenne Ave in Las Vegas, Nevada.
Asset type: Retail