This Ross store in Vegas is a great 1031 exchange candidate, and you could even see some upside potential should the tenant leave in three years when the lease is up. The traffic count is exceptional and the cost per foot is below replacement cost. The risk profile of this deal is on the low side because the rent to sales rations is sub 5%, which tells you this store is printing money for ROSS. The only issue I see is that there is another ROSS stores a little more than a mile away. I would employ AI to discover the store sales at the other location before I would buy this deal regardless of if you want ROSS to stay or go, so that you can lease this to another tenant at higher rents. I am not sure what fair rent would be in the area but the low cost per foot tells me there may be upside in the rents.https://visitlasvegas.com
I would grade this deal a B+ and would offer a 6.5% cap due to the risk of one of the ROSS units closing in the area. https://www.rossstores.com
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