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Shops at Cheyenne Fountains 7460 W Cheyenne Ave 3,500 SF 100% Leased Retail Building Las Vegas, NV 89129 $3,341,070 CAD ($954.59 CAD/SF) 6% Cap Rate



Investment Highlights
- Outparcel Pad to Daily Needs Community Center – Shops at Cheyenne Fountains sits as a corner outparcel pad to the ±55,225 SF community center
- Licensing rules make this Rapid Cash location highly irreplaceable
- Near Upside Potential and Strong Income Growth
- Established Tenant History & Stability
- Optimal Pad Location – Cheyenne Fountains is situated on W. Cheyenne Avenue on the signalized corner of N. Buffalo Drive
Executive Summary
* Outparcel Pad to Daily Needs Community Center – Shops at Cheyenne Fountains sits as a corner outparcel pad to the ±55,225 SF community center Cheyenne Fountains, providing daily needs and services with tenants such as Chevron, Capriotti’s, State Farm Insurance, Las Pupasas Market, Nifty after Fifty Wellness, All State, Santos Barbershop and others
* Zoning Restrictions & Licensing Rules - Rapid Cash – Las Vegas zoning and licensing rules effectively freeze many check-cashing / payday loan locations in place. Once an operation closes or moves, reestablishing it elsewhere is often impossible. Check-cashing and payday loan businesses are regulated as Non-Depository Lenders under City licensing rules and are not allowed “by right” in most commercial zoning districts.
* Established Tenant History & Stability – Both tenants at the property operate under NNN leases, with Rapid Cash Payday Loans having operated from the site since January of 2007, demonstrating its loyalty to the property and recently extended their lease for an additional 5-years underscoring the opportunity’s stability and long-term investment appeal
* Optimal Pad Location – Cheyenne Fountains is situated on W. Cheyenne Avenue on the signalized corner of N. Buffalo Drive putting the site along the daily commute of over 60,000 drivers and making it easily accessible to the surrounding 3-mile daytime population of over 140,300
* Near Upside Potential and Strong Income Growth – Upon stabilization through pre-negotiated rent increases or rolling rents to market, the NOI is projected to increase by more than ±11% by Year 5 and over ±32% during the anticipated 10-year hold period
* Zoning Restrictions & Licensing Rules - Rapid Cash – Las Vegas zoning and licensing rules effectively freeze many check-cashing / payday loan locations in place. Once an operation closes or moves, reestablishing it elsewhere is often impossible. Check-cashing and payday loan businesses are regulated as Non-Depository Lenders under City licensing rules and are not allowed “by right” in most commercial zoning districts.
* Established Tenant History & Stability – Both tenants at the property operate under NNN leases, with Rapid Cash Payday Loans having operated from the site since January of 2007, demonstrating its loyalty to the property and recently extended their lease for an additional 5-years underscoring the opportunity’s stability and long-term investment appeal
* Optimal Pad Location – Cheyenne Fountains is situated on W. Cheyenne Avenue on the signalized corner of N. Buffalo Drive putting the site along the daily commute of over 60,000 drivers and making it easily accessible to the surrounding 3-mile daytime population of over 140,300
* Near Upside Potential and Strong Income Growth – Upon stabilization through pre-negotiated rent increases or rolling rents to market, the NOI is projected to increase by more than ±11% by Year 5 and over ±32% during the anticipated 10-year hold period
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
3,500 SF
Building Class
C
Year Built/Renovated
1997/2021
Price
$3,341,070 CAD
Price Per SF
$954.59 CAD
Cap Rate
6%
NOI
$200,452 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
0.39 AC
Zoning
C-1
Parking
25 Spaces
Frontage
88’ on Cheyenne
Amenities
- Bus Line
- Pylon Sign
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 138-10-413-007 | Improvements Assessment | $212,130 CAD |
| Land Assessment | $150,556 CAD | Total Assessment | $362,686 CAD |
Property Taxes
Parcel Number
138-10-413-007
Land Assessment
$150,556 CAD
Improvements Assessment
$212,130 CAD
Total Assessment
$362,686 CAD
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Shops at Cheyenne Fountains | 7460 W Cheyenne Ave
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