VA Outpatient Clinic - Las Vegas

3968 N Rancho Dr Las Vegas , NV 89130-3412

VA Outpatient Clinic - Las Vegas - Healthcare for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a single tenant, freestanding outpatient clinic for the Department of Veteran Affairs (VA) located in Las Vegas, Nevada. The Asset is subject to a modified gross lease, leased to the United States of America, and features nearly 13 years of primary term remaining. Strategically positioned close to the intersection of North Rancho Drive and State Route 573, this outpatient clinic is the VA’s fourth in greater Las Vegas and covers the northwest portion of the MSA. As a build-to-suit for the VA, the Property serves over 300,000 veterans living in the state of Nevada seeking assistance for non-threatening medical conditions. This offering presents an outstanding opportunity to acquire an investment grade tenant on a long term lease with a high probability of continued occupancy at this site.

Investment Highlights


  • Build-to-suit construction in 2011 for the Department of Veterans Affairs, a U.S. Government agency specializing in assisting veterans return to civilian life
  • Long lease term remaining with nearly 13 years on the primary term remaining
  • Large 8.57 acre parcel on a signalized intersection; Rancho Drive (U.S. Route 95) provides direct access to downtown Las Vegas as well as “The Strip”
  • Immense growth projected in Las Vegas, especially surrounding the Subject Property, over the next five years; population anticipated to outpace the national average by 75%
  • Investment grade (Moody’s: ‘AAA/Stable’) tenant in the United States of America
  • Strategic location for the fourth VA Outpatient Clinic in Las Vegas, covering the northwest portion of the MSA
  • Accessible from northwest Las Vegas via North Rancho Drive, State Route 573 and the Bruce Woodbury Beltway; North Rancho Drive and State Route 573 converge just 0.6 miles north of the Asset
  • Just 5 and 8 miles from downtown Las Vegas and “The Strip”, respectively, allowing the Property to benefit from Las Vegas’s largest economic driver


FOR INFORMATION, CONTACT:

Megan Hatala

JLL Brokerage, INC.

+1 702 360 4907

megan.hatala@am.jll.com

General
Property Type Healthcare
Property Subtype Medical Office
Tenure Type Sale / Purchase
Property Address 3968 N Rancho Dr, Las Vegas, NV 89130-3412
Land In Acres 8.57
Building Size 35,187  ft2
Financial
Price Confidential
Cap Rate Confidential
Current NOI $1,688,699.00
Lease
Tenant's Name United States Department of Veterans Affairs
Credit Rating (S&P) AA+
Credit Rating (Moody's) Aaa
Lease Type Modified Gross
Annual Rent $1,801,711.00
Lease Expiration Date 08/19/2031
Remaining Term 12.3Yrs