Press Release (ePRNews.com) - Las Vegas, NV - Sep 30, 2016 - Chad Minor with Solid Investments, a nationally-recognized boutique real estate firm specializing in buyer representation of Triple Net (NNN) investment property sales, announced that the company has completed the sale of a single-tenant Taco Bell property located at 3260 N. Durango Dr. Las Vegas, NV. The sale price was $2,428,000.
Chad Minor represented the buyer, a private investor based in Reno, NV that was acquiring the property to complete a 1031 like-kind exchange. Scott Ruble, of Marcus & Millichap, represented the seller, a local developer.
Mr. Minor recognized this was a great opportunity for an investor to acquire a quality long-term tenant in rare/irreplaceable location, with zero Landlord obligations, a long term leases and periodic rent increases. Chad Minor adds, “In order to complete the like-kind transaction in compliance with the IRS Code Section 1031 rules we had to diligently work with the seller to mutually come to terms for the betterment of the deal.”
The property is visible to 21,000 cars per day from N. Durango Dr. The property is ideally situated within the densely populated Las Vegas MSA, with over 350,900 residents and 133,940 households within a five mile radius. Tenants in the area include Albertson’s, AutoZone, Target, Ace Hardware, Walgreen’s, McDonald’s, Walmart, Marshalls, Ross, Smith’s and more. Cimarron-Memorial High School (2,960+ students) is a five minute drive away.