4930 e bonanza road • las vegas • nv 89110 market ... · marcus & millichap, as exclusive...
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DISCOVERY GARDENS CHILDCARE4930 E BONANZA ROAD • LAS VEGAS • NV 89110
MARKET POSITIONING& PRICING ANALYSIS
PRESENTED BY:
RAY GERMAINFirst Vice President InvestmentsTel: (702) 215-7153 Fax: (702) [email protected]: NV S.0168487
Tel: (702) 215-7122 Fax: (702) [email protected]: NV S.0174645
MICHELLE MAGDALUYOAssociate
NON-ENDORSEMENT AND DISCLAIMER NOTICE
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marketing package. The presence of any corporation's logo or name is not intended to indicate or imply a�liation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its a�liates or subsidiaries, or any agent, product,
service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
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Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN
APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &
Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
Marcus & Millichap, as exclusive listing agent, is pleased to present an investor the opportunity to acquire the land and improvements
located at 4930 East Bonanza Road in Las Vegas, Nevada. The subject o�ering
entails a ±9,086 square-foot commercial building that is fully-leased to
Discovery Gardens Childcare, with 9.5 years remaining on a 10-year lease term.
The subject property is located adjacent to two major commercial centers, in
the heart of the East Valley’s primary commercial district, and just a few
hundred yards west of Nellis Boulevard – the submarket’s primary commercial
thoroughfare. The property also bene�ts from high residential density with
approximately 220,000 residents within a three mile radius.
Discovery Gardens Childcare is based out of Portland, Oregon. The company
has recently expanded with two additional locations in the Las Vegas market.
The lease is personally guaranteed by the owner of the business, who
currently operates a total of �ve locations. All expenses are the responsibility
of the tenant minimizing management responsibilities of the Landlord. With
approximately 9.5 years remaining and 2% annual rental increases, this
opportunity o�ers an investor a steady return for many years to come.
INVESTMENT OFFERING
PROPERTY SUMMARY
THE OFFERINGDISCOVERY GARDENS CHILDCARE4930 EAST BONANZA ROADLAS VEGAS • NV 89110
$1,482,0008.50%$126,000$163.11
PROPERTYDESCRIPTION
YEAR BUILT/RENOVATEDGROSS LEASABLE AREA
LOT SIZEZONING
TYPE OF OWNERSHIP
19969,086 SQUARE FEET0.70 ACRESC-1FEE SIMPLE
PROPERTYADDRESS
SUGGESTED LIST PRICECAPITALIZATION RATE
NOIPRICE/SF
LEASE SUMMARYPROPERTY SUBTYPE
RENT INCREASESGUARANTOR
LEASE TYPELEASE COMMENCEMENT
LEASE EXPIRATIONLEASE TERM
TERM REMAINING ON LEASERENEWAL OPTIONS
LANDLORD RESPONSIBILITYRIGHT OF FIRST REFUSAL/OFFER
NET LEASED CHILD CARE2.0% ANNUALPERSONAL GUARANTEEABSOLUTE NET4/1/20183/31/2028109.52, FIVE YEAR OPTIONSNONEYES
PROPERTY SUMMARY
YEAR MONTHLY RENT RENT/SFCurrent
YEAR ANNUAL RENT MONTHLY RENT RENT/SF CAP RATE
RENT SCHEDULEOPERATING INFOMATION
NET OPERATING INCOME $126,000
$13.87
$1.16
9,086 SF
INCOME
ANNUAL RENT/SF
MONTHLY RENT/SF
GROSS LEASEABLE AREA
$126,000 $10,500 $13.87 8.50%4/1/2019 - 3/31/2020 $128,520 $10,710 $14.14 8.67%
4/1/2020 - 3/31/2021 $131,090 $10,924 $14.43 8.85%4/1/2021 - 3/31/2022 $133,712 $11,143 $14.72 9.02%4/1/2022 - 3/31/2023 $136,386 $11,366 $15.01 9.20%4/1/2023 - 3/31/2024 $139,114 $11,593 $15.31 9.39%4/1/2024 - 3/31/2025 $141,896 $11,825 $15.62 9.57%4/1/2025 - 3/31/2026 $144,734 $12,061 $15.93 9.77%
4/1/2026 - 3/31/2027 $147,629 $12,302 $16.25 9.96%
10.16%4/1/2027 - 3/31/2028 $150,582 $12,549 $16.57
INVESTMENT HIGHLIGHTS
ExperiencedOperator with Five Locations
Approximately 220,000 Residents within a ThreeMile Radius
CombinedTra�c Counts of 74,900 VPD on Bonanza and Nellis
Long TermTriple-Net Leasewith 9.5 YearsRemaining
Two-PercentAnnual Rental
Increases
BONANZA ROAD - 28,900 VPD
Subject Property
DEMOGRAPHICS
POPULATION
AVERAGE INCOME
HOUSEHOLDS
EMPLOYMENT
231,26626,545 454,556
$50,548$53,105$51,896
68,2897,384 149,541
146,89719,872 395,290
$
1 mile 3 mile 5 mile
1 mile 3 mile 5 mile
1 mile 3 mile 5 mile
1 mile 3 mile 5 mile
AREA OVERVIEW
HIGHLIGHTS ECONOMICS
• Surrounded by numerous notable retailers and restaurants Including: Kmart, Carl’s Jr., Jack in the Box, Arby’s and 7-Eleven.
• $51,896 Average Household Income within a 1-mile radius.
• Astounding 8.2% projected population growth
between 2018-2023
• Longstanding historical childcare facility since
the 1980’s.
Las Vegas is most widely known around the globe as “The Entertainment Capital of the World.” Tourism and entertainment are the most signi�cant drivers of the local economy. The 2.3 million-square-foot Las Vegas Convention Center draws more than six million attendees annually. Inexpensive cost of living and strong employment growth has motivated residents in nearby states to travel in droves to establish residency in Las Vegas. The population is anticipated to expand by more than 253,000 residents over the next �ve years with help of new developments and re-developments coming online such as Resorts World, Las Vegas Ballpark, Raider’s Stadium, Wynn Paradise Park, Madison Square Garden Sphere, and The Drew Las Vegas.
EXCLUSIVELY OFFERED BY:
RAY GERMAINFirst Vice President InvestmentsTel: (702) 215-7153 Fax: (702) [email protected]: NV S.0168487
Tel: (702) 215-7122 Fax: (702) [email protected]: NV S.0174645
MICHELLE MAGDALUYOAssociate