Imagine Schools

6610 Grand Montecito Pkwy. - Las Vegas NV 89149

LTV (Loan to Value)	65.00%	Current NOI	$480,000.00
Interest Rate	4.250%	Capital Rate	7.740%
Fixed Term	10 Years	Land Area	+/- 3.86 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$4,030,000.00	Property Type	Public/Government
Payment	$21,832.05	Property Lease	Education
Bulding Size	0 SF	Remaining Terms	5 Years

Location Description

On behalf of the owner, NNN Lenders is offering for sale the fee simple interest in the real property located at 6610 Grand Montecito Pkwy in Las Vegas, Nevada. The property includes a school building totaling approximately 36,161 square feet with classrooms, lunchroom, offices and library; plus, an outdoor activity yard, parking lot and driveways situated on approximately 3.86 acres of land. The property is leased to Schoolhouse Finance, LLC, a wholly-owned subsidiary of Imagine Schools, Inc. In 2014 Imagine Schools educated 36,000 students with 3,500 teachers, and operated 67 campuses in 11 states and the District of Columbia. Nevada is one of the fastest-growing states for public-funded charter school openings. The Montecito campus is considered one of the top charter school campuses in northwest Las Vegas.

Highlights

Remaining Term – The original lease term was 10 years, and there are five full years of lease term remaining.…

Property Description

Las Vegas is the most populous city in the state of Nevada, the county seat of Clark County, and the city proper of the Las Vegas Valley. Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, fine dining and nightlife and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its mega casino–hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 31st-most populous city in the United States, with a population at the 2010 census of 583,736. The 2010 population of the Las Vegas metropolitan area was 1,951,269. The city is one of the top three leading destinations in the United States for conventions, business and meetings. Today, Las Vegas is one of the top tourist destinations in the world. The city is home to several museums including the Neon Museum, The Mob Museum, the Las Vegas Natural History Museum, the DISCOVERY Children's Museum, the Nevada State Museum and the Old Las Vegas Mormon State Historic Park. The city is home to an extensive Downtown Arts District which hosts numerous galleries and events. The Las Vegas Academy of International Studies, Performing and Visual Arts is a Grammy award-winning magnet school located in downtown Las Vegas. The Smith Center for the Performing Arts is situated downtown in Symphony Park. The world-class performing arts center hosts Broadway shows and other major touring attractions, as well as orchestral, opera, ballet, choir, jazz, and dance performances.