MOTEL ON THE WORLD FAMOUS LAS VEGAS BLVD FOR SALE!!!

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Services for Real Estate Pros

MOTEL ON THE WORLD FAMOUS LAS VEGAS BLVD!!!

FOR SALE!!

Parcel Numbers: 162-03-112-017, 005, 162-03-116-009, 001-005


VERY GREAT BUY & HOLD INVESTMENT PROPERTY

FOR FUTURE MEGA CASINO DEVELOPMENT!!

PROPERTY FEATURES

  • Located on the World Famous Las Vegas Strip.

  • Existing Cash Flow from 116 Unit Motel

  • Frontage on Las Vegas Blvd, Casino Center, and Utah

  • Special Provisions / Incentives for Future Developments

  • Minutes from Billion Dollar Developments on LV Blvd.

  • 5 Assembled Parcels Totaling 1.28 Acres

  • Alleyways have been Vacated by the City of Las Vegas

  • Boutique Motel Recently Renovated.

  • Located in the City of Las Vegas Redevelopment Area

  • Close Proximity to Future Downtown Projects

GENERAL PROPERTY INFORMATION

Asking Price

$11,200,00

Land SF

55,756.80 Sq Ft

Land Acres

1.28

Building SF

34,182

Bldg SF/$ Per

App. $200

# of Buildings

4

# of Units

116

# of Stories

3

Year Built

1962

Property Use

Any

Building Class

-

Zoning

C2 (Mixed Use, Downtown Redevelopment District)

Parcel Number

162-03-210-053, 054, 055, 056 & 063

Parking Description

-

Broadband

N/A Or Unknown

Gaming

N/A Or Unknown

Gas

Yes

Water

Yes

Electric

Yes

This property consists of 5 parcels totaling 1.28Acres w/ approx. 115 +/- ft of frontage on Las Vegas Blvd, 310 +/- ft of frontage on Casino Center, and 160 +/- ft on Utah. While this property provides a great redevelopment opportunity for the future buyer, The Tod Motor Motel is currently operating on the site providing income from its 116 units. The motel has been recently renovated and there is also an opportunity to sell the individual units as long term leases (model units are available to view at the site). The alleyways running through the property have been vacated by the City of Las Vegas adding additional acreage and security for the property (additional acreage not included in acreage total). This prime piece of property is located in the City of Las Vegas, Downtown Redevelopment Area, more specifically falling into the boundaries of the Downtown Overlay District, Live/Work Overlay District, and the Las Vegas Blvd. Scenic Byway Overlay District, which would enable future developments on the property to potentially benefit from redevelopment incentives such as visual improvement facade enhancement rebates, tax increment financing rebate incentives, and expedited project approval. Special provisions for this area also include exemptions for height restrictions, required building setbacks, standard parking requirements, maximum lot coverage, residential adjacency, and landscaping requirements.

 

FOR VIEWING & MORE INFO

CALL 949-209-9224 Epifanio Pinca


 

Comments (0)

Anonymous
Anonymous

Hey there, depite all the issues with the capital markets and especially with hotel loans, flagged or unflagged, we still have 3 banks that are active in this sector.  Let me know if you need any help with financing.  Thanks. 

commercial loan training

Jul 11, 2008 02:46 PM
#1