Trop Plaza
EOS Fitness Anchored Multi-Tenant Retail Center
Marketing description
Colliers is pleased to exclusively offer for sale Trop Plaza, a ±74,809 SF EOS Fitness anchored retail center located in Las Vegas, Nevada. Trop Plaza features national tenants including EOS Fitness, Denny’s, Starbucks, and Walgreens (NAP), and is strategically positioned along W. Tropicana Avenue, one of the Las Vegas’ most heavily trafficked east/west thoroughfares, in close proximity to the Las Vegas Strip and Stadium District.
Situated at the signalized intersection of W. Tropicana Avenue and S. Decatur Boulevard, Trop Plaza benefits from exceptional visibility, dual-street frontage and extremely strong traffic counts (±84,000 VPD), along with quick access to the I-15 Freeway (±177,000 VPD), I-11 Freeway (±229,000 VPD) and the CC 215 Beltway (±119,000 VPD) and the Las Vegas Strip. With an internet resistant and service-oriented mix of national and regional tenants, Trop Plaza boasts a 78-Month WALT and staggered lease expirations, providing durable in-place income alongside value-add potential through vacancy lease-up and mark-to-market rents.
The center is adjacent to The Orleans Hotel & Casino (1,886 Rooms) and Tahiti Resort (174 Suites) and surrounded by a dense and growing trade area, with approximately ±385,753 residents within a 5-mile radius and average household incomes exceeding $93,137. The immediate area features a robust daytime population of over ±660,343 consumers, further driving daytime traffic and retail demand.
Investment highlights
STABILIZED RETAIL INVESTMENT WITH UPSIDE
• EOS & Starbucks anchored retail center delivered at 94% occupancy
• 78-Month WALT and Staggered Lease Expirations
• Immediate Upside Through Vacancy Lease-Up
• Attractive Mark-to-Market Potential Supported by Strong Corridor Fundamentals and Sustained Tenant Demand
STRATEGICALLY LOCATED | HIGH-TRAFFIC CORRIDOR
• Located at the signalized intersection of Tropicana Ave. and Decatur Blvd. (±84,000 VPD)
• Excellent visibility with dual street frontage and multiple points of ingress/egress
• Less than 1-mile from the Las Vegas Resort Corridor and Allegiant Stadium (72,000 seats)
• Quick access to all major freeways
STRONG TENANT SYNERGY | ESTABLISHED RETAIL NODE
• EOS Fitness anchored retail center featuring Starbucks, Subway, Denny’s, Papa John’s, Wingstop, and more!
• Shadow-anchored by Walgreens (NAP), enhancing daily traffic and consumer draw
• Nearby co-tenants include The Home Depot, Albertsons, Smith’s, International Marketplace, CareNow Urgent Care, McDonald’s, Taco Bell, and Black Bear Diner
DENSE INFILL DEMOGRAPHICS + EXCELLENT DEMAND DRIVERS
• Robust daytime population of over ±660,343 consumers within a 5-mile radius
• Nearby Demand Drivers:
• The Orleans Hotel & Casino (1,886 Rooms)
• Tahiti Resort (174 Suites)
• Otonomus Hotel (303 Rooms)
• WorldMark Tropicana (208 Suites)
• The Palms Casino Resort (766 rooms)
• Spring Valley Hospital (366 beds)
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