No state, corporate or personal income tax
No estate tax, no inventory tax, no unitary tax, no franchise tax
Moderate real estate costs
Low workman compensation rates
NEVADA STATE INCENTIVES
470 South Meadows Pkwy, Reno NV
RE/MAX Premier Properties is pleased to present a great opportunity to purchase 470 South Meadows Pkwy, Reno, NV, a freestanding single tenant retail building operating a Steak ‘n Shake and an improved PAD.
Steak ‘n Shake is a nationally recognized fast food chain. This location is truly ideal for a fast food tenant, with excellent freeway exposure. The building is in excellent condition, constructed in 2017. This offering provides an opportunity for the investor looking for an absolute triple-net (NNN) lease that requires no management responsibilities. Eight years remain on the original ten year lease term and four, five year options to renew. The tenant pays all expense and maintenance including roof and structure.
Investment Highlights – Offered at 6.28% CAP based on actual and Pro Forma NOI
Steak N Shake: NNN lease ($165,000 actual NOI) with absolutely no Landlord responsibility. Established Tenant with 8 Years remaining on existing Lease term. New construction building, built in 2017. Busy location with freeway visibility
PAD for lease: 17,395 SF improved and ready for a +/-1,500 SF stand alone (restaurant or retail). Ground lease rate $0.30 psf. (Additional $62,622 Pro Forma NOI)
Fred has helped me to find two spaces for my business. Both times he worked tireless on my behalf to find the perfect space and to negotiate the best deal. Fred is knowledgeable and dedicated to his clients. I would highly recommend him.
Ashly S – Board & Brush Owner
I had a client who was looking for a commercial agent in Reno, NV to sell their manufacturing facility. They asked me for help in finding a competent and experienced agent who could get the job done. I researched the commercial agents in the Reno area and found Fred Jayet. Due to the sensitive nature of the project, it took time for the sale process to start. Fred stayed on top of the commercial listing with continual follow up, meetings and calls with the client. Once he got the listing on the market he soon thereafter had it in escrow and then closed 45 days later. Because of Fred’s professional marketing, knowledge of the local market, pricing skills, and stellar performance, our mutual client only wanted a RE/MAX commercial agent for their next property to sell in another State. Their comment to me was “it was one of the best experiences they have ever had.” Not only did Fred Jayet exceed the client’s expectations, his performance highlighted the first class service and expertise of RE/MAX Commercial that resulted in continual business for our company.
Fred has been such a pleasure to work with on the sale of our commercial land and building in Reno. This was my first commercial transaction and Fred guided me through the entire process. His professionalism and knowledge is top-notch. He was ever so patient with me as we identified the appropriate time to put the building on the market and provided me with all the necessary information including all of our options. This enabled us to make the best decision in regards to the sale of our commercial property. The process was conducted seamlessly as Fred stayed on top of everything to ensure there were no delays through frequent communication and follow-up. I would highly recommend Mr. Jayet.
From April Garcia CFO of Reno A & E, LLC and Eberle Design, Inc. in Phoenix AZ.
Fred is an absolute go-getter. We had space that we had not been able to lease for long periods of time with other brokers. Fred will think outside the box, he will hustle and he has done an outstanding job keeping our buildings full.
From Chris Flocchini, President and CEO of Sierra Meat and Seafood.