STNL Costa Vida
15-Year Absolute NNN Lease
Marketing description
Colliers is pleased to exclusively offer for sale a new construction single-tenant net-leased Costa Vida located in Las Vegas, NV. The property consists of a ±2,900 SF freestanding building with double drive-thru and benefits from a 15-Year Absolute NNN Lease with a corporate guaranty.
This newly constructed Costa Vida Fresh Mexican Grill is well positioned at a high traffic signalized intersection along E. Flamingo Rd. and University Center Dr., with traffic counts exceeding ±69,900 VPD. Situated just minutes from the Las Vegas Strip, Harry Reid International Airport, and the University of Nevada Las Vegas (UNLV), this high profile site benefits from strong traffic, excellent visibility, and seamless access to major transportation corridors.
Surrounded by dense residential and commercial developments, the trade area boasts a population of ±413,005 residents within a 5-mile radius, with household incomes averaging $77,593. The property is positioned within a high-demand corridor featuring national retailers, dining establishments, and entertainment venues. With close proximity to Hughes Center’s 1.5MM SF of Class A office space, MSG Sphere, Formula 1 Headquarters, Las Vegas Convention Center, Vegas Loop transportation, and multiple hospitality assets, the site enjoys a dynamic mix of local consumers, professionals, and tourists – providing unparalleled access to a thriving customer base in one of the fastest-growing markets in the country.
Investment highlights
15-Year Absolute NNN Lease | Corporate Guaranty
• Absolute NNN Lease with zero landlord responsibilities
• 10% rental increases every 5 years, including options
• CV Holdings, LC – Corporate Guaranty
High Traffic Intersection with Excellent Visibility
• Located at the signalized intersection of E. Flamingo Rd. and University Center Dr., with traffic counts exceeding ±69,900 VPD
• ±290 feet of frontage on E. Flamingo Rd. with easy access into the site
• 2-Miles from the Las Vegas Strip Corridor and Interstate-15, which boasts an additional ±288,160 VPD
Thriving Retail Hub | Major Nearby Demand Drivers
• Less than 1-mile from the Hughes Center – a 68-acre mixed use master planned complex, consisting of ±1.5M square feet of class A office space
• Located within 2-miles of the MSG Sphere, Formula 1 Headquarters, Las Vegas Convention Center, Harry Reid International Airport and multiple hospitality destinations
• Located across from the University of Nevada Las Vegas (UNLV) with 32,911 students and ±11,000 housing units within 1-mile of campus
Dense Trade Area with Strong Daytime Population
• Strong daytime population with ±727,012 consumers and an estimated ±510,213 employees within a 5-mile radius
• Services a growing population of ±413,005 residents within a 5-mile radius, with household incomes averaging $77,593
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