6580 S. Rainbow Blvd., Las Vegas, NV 89118
Recently Sold —
SIZE +/- 9,760 SF
CAP RATE 6.10%
LOGIC Commercial Real Estate is pleased to exclusively offer for sale Rainbow Commons, a new construction 100% leased multi-tenant retail center located in Las Vegas, NV. The property consists of one building totaling +/- 9,760 SF situated at the signalized intersection of S. Rainbow Blvd. and W. Sunset Rd. with combined traffic counts in excess of +/- 70,000 CPD. Additionally, the asset is located immediately north of the CC 215 Beltway with +/- 193,000 CPD, providing regional access while servicing a desirable Southwest trade area consisting of +/- 339,225 residents with an average household income of +/- $82,484 within a 5-mile radius.
Built in 2020, the asset is 100% NNN leased to Potbelly Sandwich Shop, Menchie’s, Dragon Tiger Noodle, Greek Chicken, and Floyd’s 99 Barbershop. The property benefits from an 80 foot pylon sign along the freeway as well as co-tenancy with 7-Eleven, In-N-Out Burger and a +/- 25,396 SF medical office building. Nearby retailers and points of interest include Walmart, Sam’s Club, Best Buy, Home Depot, Michaels, ULTA Beauty, the Greater Las Vegas Association of Realtors, Boyd Gaming corporate offices and the 15-acre UFC Performance Institute.
TROPHY LOCATION | NEW CONSTRUCTION
- S. Rainbow Blvd. & W. Sunset Rd.: +/- 70K cars per day.
- CC 215 Beltway: +/- 193K cars per day.
- Class A building built in 2020 with 100% occupancy in August 2020.
- Control of the Rainbow Commons 80’ billboard sign featuring the property’s tenancy.
STRONG BLUE CHIP OPERATORS | LONG TERM LEASES
- All tenants (Potbelly Sandwich Shop, Menchie’s, Dragon Tiger Noodle, Greek Chicken, and Floyd’s 99 Barbershop) have successfully operated 10 or more retail or restaurant stores. All tenants have personal or corporate guarantees with strong financials.
HIGH QUALITY TRADE AREA | HIGH DAYTIME EMPLOYMENT
- The asset services +/- 349,573 residents with an average household income of +/- $83,731 and a daytime population of +/- 389,401 residents within a 5-mile radius.
BLUE CHIP ADJACENCIES
- In-N-Out Burger, 7-Eleven and +/- 26K of Medical Office are in Rainbow Commons.
- Located within 1-mile is Walmart and Home Depot (Arroyo Market Square) as well as UFC Performance Institute Campus, Boyd Gaming Headquarters and Car Dealerships, such as Porsche and Land Rover.
NO STATE INCOME TAX
- Nevada, as a state has no income tax. Consult your accountant for more details.
Rainbow Commons – Building B
This Offering Memorandum contains select information pertaining to the business and affairs of 6580 S. Rainbow Blvd., Las Vegas, NV 89118. This Memorandum was prepared based on information supplied by Seller and Broker. It contains selected information about the Property and the real estate market, but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein (or in any other Confidential Information) are for general reference only. The projections are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents.
The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Logic Commercial Real Estate (LCRE). The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Seller, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. While the information contained in the Memorandum and any other Confidential Information is believed to be reliable, neither Broker nor Seller guarantees its accuracy or completeness. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Confidential Information. Although additional confidential information which may include engineering, environmental or other reports may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers, environmental and other experts.
By acknowledging your receipt of this Offering Memorandum from LCRE, you agree:
- 1) The Offering Memorandum and its contents are confidential;
- 2) You will hold it and treat it in the strictest of confidence; and
- 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Seller and LCRE expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and/or until a written agreement for the purchase and sale of the Property has been fully executed and delivered. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against the Seller or LCRE or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date of this Offering Memorandum. LCRE has a policy of proactive broker cooperation with the investment brokerage community. If applicable, a cooperating broker fee of the sales price shall be paid at closing to the cooperating broker that procures and represents the buyer that acquires this property. If applicable, cooperation does not include brokers that represent themselves as Principals or broker’s whose member of his immediate family is participating in the purchase of the property. No broker will be recognized on a prospect that has previously contacted or been contacted by the Seller or the Seller’s representatives.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A LCRE AGENT FOR MORE DETAILS.