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SRS Real Estate Partners Closes $39M Sale Of Gas Stations In Las Vegas And Phoenix
SOLD
$39,000,000
Nevada
See Similar DealsRetail
Sold 06/21/2024
SOLD
SRS Real Estate Partners Closes $39M Sale Of Gas Stations In Las Vegas And Phoenix
Retail
Sold 06/21/2024
Summary
Asset Type:Retail
Transaction Type:Sale
The Retail Portfolio, consisting of six gas station assets in Las Vegas and Phoenix, was sold for $39,000,000. The properties are leased back to LV Petroleum under 20-year triple-net leases, offering prime locations and favorable depreciation benefits.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $39,000,000
- Address: Las Vegas, NV & Phoenix, AZ
- Market: Las Vegas, NV & Phoenix, AZ
Matthew Mousavi, Patrick Luther, and Winston Guest from SRS Real Estate Partners were the brokers who facilitated the $39 million sale. SRS Capital Markets' team highlighted the attractive features of the properties, emphasizing their strategic locations and financial advantages.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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