4230 E. Craig Road, North Las Vegas, NV 89030Sun Commercial Real Estate, Inc. • 6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148
702 | 968 | 7300 Ph • 702 | 968 | 7301 Fax • www.SunCommercialRE.com
Second Generation Gaming TavernAvailable For Sale and For Lease
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 2 CoNtaCts
Dylan HeroyAssociate
702-968-7332 o702-580-4301 c
[email protected] Lic # S.0185856
Roy Fritz, CCIMSenior Vice President
702-968-7322 o702-482-9675 c
[email protected] Lic # S.0169670.LLC
CONFIDENTIALITY & DISCLOSURESUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.
The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.
During Mr. Fritz’s multi-decade career, he has nearly a Billion dollars’ worth of successfully closed sales and leasing experience across the retail, office, industrial, hospitality, and land markets through the Investment Services Group and Fritz Investment Team’s at Sun Commercial Real Estate.
• Certified Commercial Investment Member (CCIM) • Southern Nevada CCIM - Board of Directors (2020-2021)• Member of the International Council of Shopping Centers (ICSC)• Commercial Real Estate Owner and Investor - Retail & Industrial
Mr. Fritz attended Augusta College in Rock Island, Illinois, earning a Bachelor of Arts degree in Finance with additional concentrations in Accounting and Economics. Mr. Fritz has also completed the Certified Commercial Investment Member (CCIM) designation which is the Global Standard for Professional Achievement in commercial real estate. To learn more about this designation please visit www.ccim.com. He previously held his series 6 and series 7 Securities licenses and actively trades futures and options contracts which provides him a unique perspective into the markets. He currently holds real estate licenses in Nevada and California and his Business Broker license in Nevada.
Dylan Heroy joined Sun Commercial Real Estate in 2018 as an Associate on the Investment Services Group where he was responsible for prospecting buyers/tenants for listings, marketing, preparing presentations, and conducting market research.
In 2019, Mr. Heroy joined the Fritz Investment Team where he is responsible for deal support, digital marketing, opportunity generation and data analysis. He strives to utilize his background in finance to bring his clients an increased level of analytical perspective on every deal.
Prior to joining Sun Commercial Real Estate, Mr. Heroy owned and operated a franchise of a national retail chain which allowed him to gain a unique perspective of what is important to tenants and building owners on a day-to-day basis.
After graduating from UNLV, he spent time as a Private Equity Analyst Intern. During this time he assisted in the firm’s structuring of proposed investment deals by creating and modeling distribution waterfalls for real estate and development projects ranging from $10mm-$500mm.
Mr. Heroy earned a Bachelor of Science in Business Administration Finance from the University of Nevada, Las Vegas (UNLV).
WWW.FRITZINVESTMENTTEAM.COM
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 3
FOR SALE
• Be the Las Vegas Raiders Gaming Tavern for all the locals prior to start of the 2020 inaugural Las Vegas Raiders season• Fully built-out restaurant that includes virtually all kitchen equipment including large walk-in keg cooler and freezer• All furniture, and fixtures in bar area ready-made for gaming• Unique oversized rear lot can be utilized for large outdoor events (Raiders tailgate, etc.)• Daily Traffic counts exceeding 58,000 on the corner of Craig Road & Lamb Boulevard• Adjacent to high volume Rebel Gas station• Slot route contract and gaming machines are available with separate contract • Brand new Wendy’s under construction across the street
Building Size:
Asking Sale Price: Asking Lease Rate:
Price Per SF: Estimated CAMs:
2004 / 2017
±0.79 Acres
Year Built / Renovated:
Site Size:
±4,424 SF
$1,699,500 $9,000/Month (NNN)
$394 $0.40/SF
Parking: 13.63/1,000 (60 parking spaces)
Term: 5 Year +
Zoning: M-2
dEaL summary
DEAL TERMS
THE DEAL - Nevada Style Gaming Tavern inclusive of Restricted Gaming License (15 machines) and Full Liquor License
FOR LEASE
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 4 ProPErty Photos
E. CRAIG ROAD | ±34,000 CPD N. LAMB B
OULEVARD
| ±2
4,200
CPD
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 5 ProPErty Photos
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 6
Pool Table
ATM
Jukebox
ArcadeMach.
Register
Point of Supervision
Liquor
Office #1
Storage
Kitchen
Womens Restroom Mens Restroom
91'-31516"
Trash Enclosure
Bar Taps, Storage.
Bar Taps, Storage.
Bar Taps, Storage.
Beer Cooler
TableN
on-Gam
ing
Can Wash
Service Yard
5'-9"
14'-71116"14'-6 9
16"
5'-8 916"
Tequila's Taco Cantina4230 East Craig Road North Las Vegas, NV 89081
Prepared: 08/23/17
= 1 Ft Scale
Universal Sq. Ft. 5,269Retail Sq. Ft. 2,805Purpose of Submission:
Revision to show Gaming Sq. Ft.
57'-838"
CigaretteMach.
TableN
on-Gam
ing
Gaming Sq. Ft. 476
20'-61316"
ArcadeMach.
ArcadeMach.
Restaurant / Dining
TableN
on-Gam
ingTable
Non-G
aming
TableNon-Gaming
Table
Non-Gaming
TableNon-Gaming
Table
Non-Gaming
Table
Non-Gaming
Table
Non-Gaming
Table
Non-Gaming
Table
Non-Gaming
Table
Non-Gaming
TableN
on-Gam
ingTable
Non-G
aming
TableNon-Gaming
FLoor PLaN
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 7
Nellis Family Housing
Eagle Trace Apartments
Craig Road Villas
Cliffs at DoverBeazer Homes
±8,400 CPD
±8,400 CPD
Nellis Hospital (50 Beds)
Nellis Suites
Super 8
Nellis Gardens Apartments
Sunset Mobilehome Community
±34,000 CPD±34,000 CPD
N. L
AM
B BO
ULEV
ARD
N. LAS VEGAS BOULEVARD
E. CRAIG ROAD
Estates at Westernaire/Terravita Apts
N. N
ELLI
S BO
ULEV
ARD
N
NELLIS AIR FORCE BASE• 14,000 Employees• 3,187 On Base Population• $314.3M Total Annual Payroll• ±1.65 Miles from Subject Property
±54,2
00 C
PD
±54,2
00 C
PD
±24,
200
CPD
±24,
200
CPD
surrouNdiNg aEriaL maP
SUBJECT PROPERTY
Under Construction
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 8
3 Mile
2 Mile
1 MILE
4230 E. Craig Road
arEa dEmograPhiCs
PPOOPPUULLAATTIIOONN11 MMiillee 22 MMiilleess 33 MMiilleess
22001199 PPooppuullaattiioonn 17,393 49,654 103,650
2024 Population 18,667 54,149 113,009
HHOOUUSSEEHHOOLLDD11 MMiillee 22 MMiilleess 33 MMiilleess
2010 Households 4,729 12,931 26,066
2019 Households 5,117 15,210 30,166
2024 Households 5,471 16,576 32,877
2019 Average HH Size 3.39 3.16 3.36
IINNCCOOMMEE 2200119911 MMiillee 22 MMiilleess 33 MMiilleess
<$15,000 12.6% 14.4% 13.4%
$15,000 - $24,999 12.0% 12.5% 10.9%
$25,000 - $34,999 14.4% 14.5% 12.7%
$35,000 - $49,999 16.5% 16.9% 16.6%
$50,000 - $74,999 20.5% 19.6% 19.6%
$75,000 - $99,999 11.9% 10.6% 12.1%
$100,000 - $149,999 9.4% 8.6% 11.0%
$150,000 - $199,999 2.2% 1.8% 2.4%
$200,000+ 0.6% 1.1% 1.3%
22001199 MMeeddiiaann HHHH IInnccoommee $43,804 $41,349 $45,775
22001199 AAvveerraaggee HHoouusseehhoolldd IInnccoommee $54,847 $53,609 $58,337
RRAACCEE AANNDD EETTHHNNIICCIITTYY 2200119911 MMiillee 22 MMiilleess 33 MMiilleess
White 31.5% 35.8% 37.3%
Black 25.7% 25.0% 21.7%
American Indian 0.9% 1.0% 0.9%
Asian - Number 4.3% 4.4% 4.9%
Pacific Islander 0.7% 0.9% 0.8%
Some Other Race 31.5% 27.0% 28.2%
Two or More Races 5.3% 6.1% 6.2%
Hispanic Origin (Any Race) 54.7% 47.8% 51.4%
*Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 9 Las VEgas VaLLEy oVErViEw
$15.7 Billion in New Capital Investment is Driving Growth
1. Resorts World Las Vegas - $4.0 Billion 2. The Drew (Former Fontainebleau) - $3.1 Billion
• $4 billion Strip resort project with a heavy Asian theme began construction in 2017. • Resorts World, developed by the Genting Group, is being built at the former site of the Stardust and Echelon. • Genting, which bought the site from Boyd in 2013 for $350 million, will be using the partially constructed Echelon structures for this property. • With a projected opening set for 2020, the initial phase will have 3,100 rooms, a 100,000-square-foot casino, shops and restaurants spread across its 88-acre site.
• The Drew is comprised of three hotels inclusive of 24 restaurants and 95,000 square feet of gaming. • The $3 billion hotel will have ±3,800 rooms and 500,000 square feet of convention and meeting space. • This project is expected to create approximately 11,000 jobs in Nevada, comprised of 3,500 construction jobs and 7,000 permanent jobs. • Project to begin in 2020 with 2022 Q2 completion date.
1
3
24
5
6
7
8
910
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 10 Las VEgas VaLLEy oVErViEw (CoN’t)
5. Union Village - $1.2 Billion
4. Convention Center Expansion - $1.4 Billion
6. Switch - $1 Billion
• Union Village will be the first Integrated Health Village in the world, and is listed as the largest healthcare building project in the United States. • The $1.2 billion dollar, 155-acre planned development not only covers healthcare, but retail, entertainment, and senior living as well. • Approximately 355,000 square feet have been completed, totaling $300 million in work, with another 476,000 square feet to be under construction soon.
• Las Vegas Convention Center will be renovated and expanded into a $1.4 billion Las Vegas Global Business District. • Planned in four phases, new facilities will replace the 26-acre Riviera Hotel site, adding ±1.4 million square-feet of exhibit and meeting space. • Phase Two of the project is projected to be completed in 2020.• Expected to draw an additional 600,000 visitors a year, drive $2.1 billion in economic activity during construction and have an annual economic impact of $810 million when finished.
• Switch is a globally recognized leader in future-proof data center design, superscale cloud, unparalleled telecom gateways and energy sustainability. • Its Southern Nevada expansion includes a $1 billion data storage site on 200 acres near its two existing data storage facilities at South Jones Boulevard and the 215 Beltway. • Idea to link 50 million people within 14 milliseconds of data hosted at each of the company’s data hubs via a superloop of fiber optic cable connecting its Reno and Las Vegas supernaps sites, with a planned facilities in LA and SF.
3. Las Vegas Stadium - $1.9 Billion
• The Oakland Raiders will move to Las Vegas for the 2020 NFL season. • The groundbreaking ceremony took place in November 2017 for a new $1.9 billion stadium just west of the Strip. • The venue’s horse-shoe shape, designed by Manica Architecture, would accommodate 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use commercial facilities. • The design shows a retractable natural turf field. • This venue would also allow Las Vegas to host the annual Super Bowl.
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 11 Las VEgas VaLLEy oVErViEw (CoN’t)7. Project Neon - $1 Billion
9. Palms Renovation - $690 Million
8. Extreme Sports Park - $800 Million
10. Park MGM (Former Monte Carlo) - $650 Million
• Project Neon is the largest public works project in Nevada history. • $1 billion effort to redesign and widen Interstate 15 from the U.S. Highway 95 interchange to Sahara Avenue by July 2019. • Currently this road is the busiest stretch of highway in Nevada with 300,000 vehicles daily. Traffic through the corridor is expected to double by 2035.
• Station Casinos enhanced nearly every feature of the resort, completing $690 million in improvements. • Remodel included redesigned/renovated hotel rooms, 60 new hotel rooms, 29,000 square foot nightclub, new 73,000 square foot pool club, several celebrity chef restaurants, new spa, meeting/convention space, new covered parking spaces, refresh of the Pearl Theater, renovated casino floor, and a new front desk registration area to name a few. •Completed April 2019.
• Josh Kearney’s $800M extreme sports park called The Edge received county approval in 2017. • 130-acre at the SEC of Las Vegas Boulevard and Sunset Road, adjacent to Town Square Las Vegas, a 1.2M SF class A open air shopping, dining, office and entertainment center.• The Park is expected to have surfing/wake boarding/rock climbing/mountain biking/indoor skydiving/bungee jumping/zip lines and a 15-story, 640 room hotel with a casino, convention space, restaurants and two rooftop pools. • Project will take approximately 2.5 years to complete.
• A transformation occurring in Las Vegas is the conversion of the Monte Carlo into two hotels: a 2,700-room luxury resort Park MGM and a 292-room hotel NoMad Las Vegas. • This $650 million makeover was completed at the end of 2018. • The new resort will feature two hotels, redesigned rooms, an Italian market Eataly with cafes, walk-up counters and dine-in restaurants. • The properties will have amenities such as dining and casinos as well as a 5,300-seat theater at the Park MGM.
The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness.
GAMING TAVERN FOR LEASE 4230 E. Craig road,
North Las VEgas, NV 89030
PagE 12
Three Years in a row!
Susan Cotton, Principal/Managing Director | 702-968-7305 | [email protected] | www.sunpm.net6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148
OUR STORYSun Property Management, LLC was formed in 2010 as a boutique commercial property management company with offices in Las Vegas and coming soon in Arizona. The owners of Sun Property Management brought a record of proven success in all aspects of commercial real estate. The addition of Susan Cotton to the ownership team brought the final piece of the puzzle in forming a successful property management company. Since its inception, the company has grown both in size and depth of services. Our commercial property management experience is national in scope and locally applied.
OUR VISIONSun Property Management is recognized as the most valued and respected Property Management company providing our clients with unsurpassed levels of service and advice. We are in the business of helping our clients maximize the value of their real estate assets.
MANAGEMENT PROCESS
» Review & Assess Client’s Objectives» Technical Review of the Property» Monthly Financial Reporting» Management Services Including: • Emergency Response • Lease Enforcement • Tenant Retention Efforts • Rent Collections • Annual Budgeting • Annual Reconciliation
COMMERCIALREAL ESTATE MANAGEMENT
PROTECT YOUR ASSETS WITH ACCOMPLISHED PROFESSIONALS
“Sun Commercial Real Estate and Sun Property Management have been great compliments to our valuation, property management and disposition strategy. They are a highly competent firm and I would recommend them to any institution seeing professional commercial real estate services.”
~Lynne Sullivan, Vice President/Special Assets, City National Bank
Largest Third Party Commercial Property
Managers2016 2017 2018
PROPERTY MANAGEMENT SERVICES AVAILABLE
Exclusively Listed by: Roy Fritz, CCIMSenior Vice President
NV Lic # S.0169670.LLC
Dylan HeroyAssociate
NV Lic # S.0185856