LAS VEGAS, NV, February , 2020 –
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Enterprise Rent-A-Car, a 1,797-square foot net-leased property located less than two miles West of Las Vegas Strip. At 5.37%, this is the lowest recorded cap rate for a short-term leased Enterprise Rent-A-Car nationwide.
Dustin R. Alvino, First Vice President of Investments at Marcus & Millichap’s Las Vegas office, represented the seller as well as procuring the buyer. The asset sold for $1,020,000 to a California based investor through the 1031 exchange. This is the second time Dustin has sold the property in the last five years.
For more information regarding the sale of Enterprise Rent-A-Car in Las Vegas or if you have any other questions relating to net-leased investments, please do not hesitate to reach out to Dustin R. Alvino.
Dustin R. Alvino | (702) 215-7120