1540 W. Sunset Rd., Henderson, NV 89014

— Recently Sold • Represented Seller —

List Price$4.9MM

Size: +/- 10,797 SF

CAP RATE: 6.9%

Property Information

On behalf of Sunstone Bonita, LLC, LOGIC Commercial Real Estate is pleased to present the opportunity to acquire Galleria Marketplace, a triple net-leased, five-tenant retail investment opportunity in Henderson, Nevada (the “Property”). The Property is 100% occupied and anchored by PT’s Gold tavern featuring a corporate guaranty by its parent company, Golden Entertainment (NASDAQ: GDEN), which makes up nearly 50% of the center’s total revenue. Golden Entertainment is a publicly-traded gaming company with +/-8,000 employees, 10 casinos, 66 taverns and more than 1,000 route locations. In addition to PT’s Gold, Galleria Marketplace features an internet resistant tenant mix including Jackson Hewitt Tax Service, Las Pupusas Restaurant, Hollywood Smokes & Vape, and Las Vegas Barber Shop.

The Property totals +/-10,797 SF and is situated on +/-1.18 AC at the signalized hard corner of W. Sunset Rd. and Whitney Ranch Dr. The center is located just west of the N. Stephanie St./Sunset Rd. intersection which is the retail mecca of the valley including countless national retailers such as Walmart, Lowes, Home Depot, Costco, Target, Best Buy, Macy’s, Kohl’s, CVS and many more. Additionally, just down the street is the 80-AC, 448-room Sunset Station Hotel & Casino and the +/-1.1MM SF Galleria at Sunset Mall, each of which drive significant traffic to the area. The site features strong demographics including average household income of more than $79,000 with a population of 325,000 within a 5-mile radius.

Galleria Marketplace provides investors with a stabilized, cash flowing investment opportunity featuring a strong anchor tenant, ease of management, and staggered lease expirations.

Investment Highlights:

  • 100% OCCUPIED NNN RETAIL INVESTMENT: Galleria Marketplace presents investors with an easy-to-manage, 100% leased 5-tenant retail investment opportunity featuring triple-net leases with staggered expirations.
  • ANCHORED BY PT’S GOLD W/ CORPORATE GUARANTY: The Property is anchored by PT’s Gold tavern (which accounts for nearly 50% of the center’s revenue) that features a corporate guaranty by its parent company, Golden Entertainment Inc. (NASDAQ: GDEN), which has +/-8,000 employees, 10 casinos, 66 taverns and more than 1,000 route locations.
  • INTERNET RESISTANT TENANT ROSTER: In addition to PT’s Gold, the center features diverse internet & recession resistant tenants including Jackson Hewitt Tax Service, Las Pupusas Restaurant, Hollywood Smokes & Vape, and Las Vegas Barber Shop.
  • PROXIMITY TO US-95 ON HARD CORNER: The property is located on the signalized hard corner of W. Sunset Rd. and Whitney Ranch Dr. with a prominent monument sign promoting excellent visibility and exposure to passing traffic (combined traffic counts of +/-38,000 CPD). The center benefits from dual ingress/egress on both W. Sunset Rd. and Whitney Ranch Dr. and is also located just minutes from the US-95 Freeway.
  • SUPERIOR LOCATION IN RETAIL EPICENTER: Galleria Marketplace is located just off the intersection of W. Sunset Rd. and N. Stephanie St., which is the epicenter for national retailers in Henderson. The area features the 80- acre, 448-room Sunset Station Hotel & Casino, the +/-1.1MM SF Galleria at Sunset Mall and countless national retailers including Walmart, Lowes, Home Depot, Costco, Target, Best Buy, Macy’s, Kohl’s, CVS and many more.
  • STRONG DEMOGRAPHICS: The property has healthy demographics featuring an average household income of more than $79,000 with a population of 325,000 within a 5-mile radius.
  • $1 BILLION OF HENDERSON DEVELOPMENT PROJECTS: The site is located in the City of Henderson which is undergoing a resurgence of development including the $25MM Golden Knights Hockey facility on Water St., the $40MM AHL hockey arena, the $600MM 64-acre Google Data Center, the +/-650,000 SF Amazon Distribution Center, +/-130-acre Union Village mixed-use development, the $75MM Raiders practice facility and the +/-2,200-acre Cadence master planned community with over +/-13,250 planned residences.

Contact

Brokerage

Gino Vincent, CCIM

Senior Vice President
Las Vegas
License BS.0000138.LLC
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O 702.954.4113
C 702.340.9490
More Info
Brokerage

Kelli Naziri

Team Strategist
Las Vegas
License S.192972
O 702.954.4103
More Info