Commercial property

New offer for a Class A commercial property in Las Vegas with 3 main anchor tenants

First national real estate partners has a new investment offering in one of America’s fastest growing real estate markets. The Tropicana Center is a 600,000 square foot shopping center in Las Vegas, NV with three premier anchor tenants.

The property offers three times the typical stability of a given site thanks to its three high-performance essential needs anchorages, all well established in this unique center.

The Tropicana Center is a premium institutional retail investment that offers investors an excellent tenant mix, including three flagship locations leased to nationally recognized retail chains: walmart, Sam’s Club, and one Cabbage growers market. Most similar offerings house a single primary tenant.

Access the offer documents

Investment Highlights

The Tropicana Center was built in 1991 and is only 4 miles from the famous Las Vegas Strip. It is conveniently located on a busy signalized intersection which is used by approximately 71,000 cars per day. Nearly 500,000 Nevada residents live within 5 miles of the property, and the area’s population is expected to grow nearly 13% over the next five years.

In addition to these solid fundamentals, the region’s average income is close to $75,000 per year. Walmart and Sam’s Club have both been tenants since 1991 and have the option to extend their current leases to 2052 and 2048, respectively. Overall, the Tropicana Center is 95.5% occupied and, in addition to the three pillars, has nationally recognized tenants including The 5 great sporting goods, ace material, dollar tree, and McDonald’s.

  • Minimum investment: $50,000
  • Projected average annual return: 13-14%
  • Expected holding period: 3 years
  • Projected equity multiple: 1.44x
  • Projected annual cash distribution: 6-6.5%

There is also nearly 26,000 square feet of commercial space available as well as sufficient land for value-added spin-off development on the premises. All of this makes the Tropicana Center worth a long look from investors who want Class A retail space with strong tenants and a rising NOI.

About the project sponsor

First national real estate partners is one of the largest US sponsors of institutional-grade commercial real estate offerings. This New Jersey-based company was founded in 2015 and has its own platform that allows investors to engage directly and without intermediaries. Its mission is to provide investors with the opportunity to purchase carefully selected and profitable institutional quality commercial real estate investments with nationally recognized tenants.

Visit First National Realty Partners for more information.