Flamingo Courtyard
$500K Price Reduction | Retail | 7.27% CAP | 44,935 SqFt
Marketing description
CBC Premier exclusively presents Flamingo Courtyard for acquisition to qualified investors. This ±44,935 square-foot, 100% stabilized retail and professional office center, was constructed in 1985 with renovations in 2016. The asset features are resilient "internet-resistant" tenant mix anchored by institutional-grade medical and fitness users, including Proud Moments ABA and Movement Fitness. The property benefits from its diverse mix of tenants and close proximity to all major interstates, Harry Reid International Airport, and the fabulous Las Vegas Strip.With a diversified rent roll, 3.0% annual escalations, and a defensive basis significantly below current replacement costs, Flamingo Courtyard offers investors a rare combination of immediate, stabilized cash flow and long-term yield appreciation in one of the nation's most favorable tax jurisdictions.
This property is strategically situated in the Central East Las Vegas sub-market, serving as the link between the Las Vegas Strip and the residential suburban sprawl of Henderson. This location offers the best of both worlds: the massive daytime population of the urban core consisting of over ±190,000 residents within a 3-mile radius and the high-income commuter traffic flowing between the valley's two largest economic engines, while remaining less than 15 minutes from Harry Reid International Airport (LAS).
Please do not disturb tenants. Contact brokers to schedule a tour.
$50,000 CO-BROKER BONUS FOR QUALIFIED OFFERS SUBMITTED & ACCEPTED NO LATER THAN 5:00 PM, FRIDAY JUNE 5 IN ADDITION TO 2% CO-OP IN ADDITION TO 2.0% CO-OP COMMISSION
Investment highlights
- Stabilized Cash Flow with Immediate Upside – At 100% occupancy with a twenty-seven (27) month WALT, Flamingo Courtyard provides a diverse income stream from seven (7) tenants, ranging from recession-resistant medical and fitness anchors to local professional services.
- Significant Mark-to-Market Opportunity – Current rents sit significantly below the Central East Las Vegas submarket average. Investors are positioned to capture immediate yield appreciation by either renewing expiring leases or re-tenanting at market-leading rates, driving the NOI well beyond the current $599,406 baseline.
- Location, Location, Location – Situated along the heavily trafficked East Flamingo Road corridor (±41,000 VPD), the asset is less than a 15-minute drive from all major regional landmarks, transit hubs, and the world-class amenities of the Las Vegas Strip, placing it at the epicenter of Southern Nevada’s retail gravity. Favorable Tax Jurisdiction – Nevada remains one (1) of only nine (9) states with no state income tax, making this a premier destination for out-of-state 1031 Exchange capital seeking tax-efficient yield.
- Below Replacement Costs – With 2026 ground-up construction and land acquisition costs in Las Vegas currently exceeding $450/SF for similar high-identity assets, the subject property offers an investor an immediate 'Safety Margin' and a protected basis that is nearly impossible to replicate in the current inflationary environment.
- Capital Expenditure Savings – Current ownership recently completed significant property enhancements, including a full epoxy roof resealing on both buildings, mitigating immediate CAPEX requirements and preserving cash flow for the incoming owner.
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