1531 S BLVD Las Vegas NV 89104

SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, recently remodeled, freestanding, Peppermint Hippo investment property located along the world famous Las Vegas Strip. The tenant recently executed a brand new 15-year lease, with options to extend, demonstrating their commitment to the site. The lease will feature 1.50% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Additionally, the tenant currently has two sub-tenants in-place (Boston Pizza Vegas & AT&T Cell Tower) and has an offer to sublease the 2nd Floor space for a nightclub or comedy use with a separate entrance, this additional income for the tenant helps offset the master lease rent and provides for a lower occupancy cost (Contact Agent / See Page 7 for Details). Peppermint Hippo is a premier entertainment company with a strong presence across the United States. With 9 locations across the country, including in Las Vegas and Reno, Peppermint Hippo has established itself as a leader in the entertainment industry. This offering also represents a rare opportunity to acquire a large 2.63-acre parcel that is located within a dense, infill area with high barriers for new development. Lastly, the property was also recently remodeled in 2022 with tenant spending over $5M in improvements.

The Peppermint Hippo is ideally positioned along the world-famous Las Vegas Strip, a landmark destination known for its popular hotels and casinos. The strip received over 40 million visitors in 2023, amassing $8.90+ billion in revenue. The site also ranks in the 98th percentile nationwide among adult entertainment venues with over 115k annual visitors (per Placer.ai) and receives a significant amount of crossover exposure and foot traffic from nearby hotels and casinos. The property is easily accessible from all major hotels along the strip, including the Venetian and Caesars Palace, which receive over 9 million visits annually (per Placer.ai), and are less than 3-miles from the site. The asset has excellent visibility and significant signage at the signalized, hard corner intersection of E. Wyoming Avenue and S. Las Vegas Boulevard with a combined 103,200 vehicles passing daily. The property is located less than 1-mile from off ramps of Interstate 15, a major highway in the Western United States receiving 325,000 vehicles passing daily. The 5-mile trade area is supported by a population of over 506,800 residents and 457,800 employees with an average household income $61,259.

• Brand New 15-Year Lease | Annual Rental Increases

• Absolute NNN | Fee Simple Ownership | Recent Remodel ($5M+) | Zero Landlord Responsibilities | Large Parcel - Intrinsic Value

• Excellent Visibility Along Las Vegas Strip | 40M+ Visitors In 2023 |Accessible From Hotels & Casinos | Interstate 15 (325,000 VPD)

• Strong Demographics in 5-Mile Trade Area