8450 Westcliff Dr., Las Vegas, NV 89145

— Recently Sold • Represented Seller —

List Price$2.62MM

Size +/- 4,200 SF

Cap Rate 5.75%

Property Information

Property Overview

The Vincent Advisory Group of LOGIC Commercial Real Estate is pleased to present the opportunity to acquire Jackpot Joanie’s tavern on Westcliff Dr., a single-tenant, triple-net leased investment opportunity in Las Vegas, Nevada. The property is located in the desirable West Las Vegas submarket near the signalized intersection of Westcliff Dr. and N. Durango Dr., on the cusp of Summerlin. The tavern is owned and operated by Ron Winchell with over 20 years of gaming experience and 23 locations including 18 taverns, 4 casinos and the Kentucky Downs horse racetrack. The offering features a new 15-year lease term with attractive annual increases and minimal landlord responsibilities.

The +/-4,200 square foot tavern was recently renovated and features a highly-coveted restricted gaming license for 15 gaming machines. The property is situated within a densely populated submarket surrounded by rooftops with a population of 459,419 and significant annual household income of +/-$85,972 within a 5-mile radius.

The Jackpot Joanie’s tavern opportunity provides investors with a long-term, stabilized cash flowing asset featuring a dominant gaming operator and ease of management.

Investment Highlights

  • Single-Tenant NNN Investment Opportunity
    Jackpot Joanie’s provides investors with an easy-to-manage, single-tenant, triple-net tavern investment featuring a new 15-year lease term and annual increases.
  • Established Regional Gaming Operator
    The tavern is operated by local entrepreneur Ron Winchell who owns 23 gaming properties under various brands including 18 taverns, 4 casinos and the Kentucky Downs horse racetrack. Jackpot Joanie’s is his latest tavern brand with over 15 locations and growing.
  • Newly Renovated Jackpot Joanie’s purchased the existing tavern business in 2019 and invested significant capital into renovating the building in 2020, further demonstrating their commitment to the site. 
  • Privileged Gaming License
    The property features a highly desirable Nevada restricted gaming license for 15 gaming machines, which is in high demand throughout the Las Vegas valley. These licenses must meet specific location requirements restricting new tavern sites and controlling competition.
  • Superior Location & Accessibility
    Jackpot Joanie’s is located in the desirable west Las Vegas submarket on the cusp of Summerlin, just off the interchange of Summerlin Pkwy. and N. Durango Dr. The building is adjacent to a Terrible’s c-store & gas station and situated just off the signalized intersection of Westcliff Dr. and N. Durango Dr.
  • Strong Demographics
    The property is situated within a densely populated submarket with a population of 459,419 and significant annual household income of +/-$85,972 within a 5-mile radius.

Contact

Brokerage

Gino Vincent, CCIM

Senior Vice President
Las Vegas
License BS.0000138.LLC
linkedin-square
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