10150 S. Rainbow Blvd., Las Vegas, NV 89178
Size +/- 5,100 SF
CAP Rate 5.91%
The Vincent Advisory Group of LOGIC Commercial Real Estate is pleased to present the opportunity to acquire Village Pub & Poker – Mountain’s Edge, a single-tenant, triple-net leased investment opportunity in Las Vegas, Nevada. The property is located in the desirable Southwest Las Vegas submarket on the signalized hard corner of S. Rainbow Blvd. and Mountains Edge Pkwy., nestled within the 3,500-acre Mountain’s Edge master-planned community, one of the nation’s best-selling master-planned communities.
The offering features a new 10-year lease term with attractive 2.0% annual increases, minimal landlord responsibilities, and a five-store corporate guaranty. The tavern is operated by Gary Ellis, a long-time Las Vegan with over 50 years of gaming experience, and established tavern operator with 17+ properties. His operating brands include the Village Pub & Poker tavern chain, Yorky’s tavern, Casino Valle Verde, the Ellis Island Casino, Hotel & Brewery, and the Mt. Charleston Lodge.
The offering features a brand new +/-5,100 square foot free-standing tavern with a full-service kitchen, restaurant and full bar with a highly-coveted Nevada gaming license allowing for 15 video poker machines. The building is situated within a popular southwest residential area with strong demographics featuring over 213,569 people within 5-miles and household incomes of $109,233 within a 3-mile radius. The Village Pub & Poker- Mountain’s Edge opportunity provides investors with a long-term, stabilized cash flowing asset featuring a dominant gaming operator and ease of management.
Single-Tenant NNN Investment Opportunity:
Village Pub & Poker provides investors with an easy-to-manage, singletenant, triple-net tavern investment featuring a new 10-year lease term, 2.0% annual increases, five-store corporate guaranty and minimal landlord responsibilities.
The property is currently under construction and is expected to be delivered to the tenant in December of 2020. The building will be delivered in grey shell condition and the tenant will be investing significant capital into improvements further demonstrating their commitment to the site.
Dominant Gaming Operator:
The Village Pub & Poker is owned and operated by Gary Ellis, a longtime Las Vegan whose family has over 50 years of gaming experience. Mr. Ellis owns 17+ gaming properties including 14 taverns and three hotel/casinos including the Ellis Island Casino, Hotel & Brewery. The first Village Pub & Poker was established in 1968 and Mr. Ellis continues to grow the brand throughout the valley.
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:
Village Pub is located in the desirable west Las Vegas submarket nestled within the Mountain’s Edge master-planned community, one of the nation’s best-selling master-planned communities featuring over +/-3,500 acres. The site is situated on the signalized hard corner of S. Rainbow Blvd. & Mountains Edge Pkwy., and is just minutes away from the newly developed +/-250,000 SF Albertson’s anchored Mountain’s Edge Marketplace. The retail center features a wide variety of national tenants including Chase Bank, Ross, Starbucks, Planet Fitness, Aveda Salon, Crumbl Cookies, T-Mobile, and more.