New Offering For Class A Commercial Property In Las Vegas With 3 Major Anchor Tenants

First National Realty Partners has a new investment offering in one of America’s hottest real estate markets. The Tropicana Centre is a 600,000 square foot shopping center in Las Vegas, NV, with three top-tier anchor tenants. 

The property offers three times the typical stability of a given site due to its three high-performing, essential needs anchors, which are all well-established in this single center. 

The Tropicana Centre is a top-quality institutional commercial investment that offers investors a great mix of tenants, including three anchor locations that are leased to nationally recognized store chains: Walmart, Sam’s Club, and a Sprouts Farmers Market. Most similar offerings are home to only one anchor tenant. 

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Investment Highlights

The Tropicana Centre was built in 1991 and is only 4 miles away from the world-famous Las Vegas Strip. It’s conveniently located on a highly trafficked signaled intersection that is used by an estimated 71,000 cars per day. There are nearly 500,000 Nevada residents who live within 5 miles of the property and the area’s population is expected to increase by nearly 13% in the next five years. 

In addition to these strong fundamentals, the average income for the area is nearly $75,000 annually. Walmart and Sam’s Club have both been tenants since 1991 and have options to extend their current leases into 2052 and 2048, respectively. Overall, the Tropicana Centre is 95.5% occupied and, in addition tothe three anchors, features nationally recognized tenants, including Big 5 Sporting Goods, Ace Hardware, Dollar Tree, and McDonalds. 

• Minimum investment: $50,000
• Projected annual average return: 13-14%
• Projected hold period: 3 years
• Projected equity multiple: 1.44x
• Projected annual cash distribution: 6-6.5%

There is also nearly 26,000 square feet of retail space available along with sufficient land for a value-add spin-off development on the premises. All of this makes the Tropicana Centre worth a long look from investors who want class-A commercial space with solid tenants and NOI upside. 

About the Project Sponsor

First National Realty Partners is one of America’s largest sponsors of institutional quality commercial real estate offerings. This New Jersey-based firm was founded in 2015 and features its own platform that allows investors to pledge directly and without middlemen. Its mission is to provide investors with the chance to buy into carefully vetted, profitable institutional-quality commercial real estate investments with nationally recognized tenants. 

Visit First National Realty Partners for more information.