129 8Th StLas Vegas, NV 89101

For Sale
$18,100,000

166-key hotel, value-add opportunity

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity encompasses a 166-key hotel portfolio in the heart of downtown Las Vegas, Nevada. The property includes four buildings on approximately 1.94 acres, featuring a 125-room operating boutique hotel with amenities such as Wi-Fi, express check-in/check-out, a fitness center, and a six-hole mini-golf course. Significant capital expenditures upgraded rooms in 2018/2019 and 2024. The portfolio also includes a closed 41-room annex building, an 11-unit apartment building requiring significant repairs, and an undeveloped lot. All parcels are situated within an Opportunity Zone, offering substantial tax advantages. The hotel benefits from a prime location with high visibility and frontage on N. 8th Street, between E. Ogden Avenue and Fremont Street, experiencing significant daily pedestrian traffic. The property's multiple buildings and diverse components present a compelling value-add opportunity for a qualified buyer. The combined lot size is 1.94 acres, with the main hotel buildings constructed in 1965 and renovated in 2019. The property is zoned T5-MS and has a total of 166 keys, offering significant potential for increased revenue and return on investment. The asking price for this unique portfolio is $18,100,000. The Assessor's Parcel Numbers (APN) are 139-34-612-009, 017, 018, 029, 030, 031, 032, 033, and 034.

Highlights

  • Downtown Las Vegas location.
  • Value-add opportunity: Purchase of six additional parcels possible.
  • Strong historical performance and recent improvements.
  • Located in an Opportunity Zone, offering tax advantages.
  • Strong Las Vegas tourism market.

Property Details for 129 8Th St

Property type
Other hospitality properties, Hotels
Year Built/Renovated
1965/2019
Buildings
4
Stories
2
Lot Size (sq. ft)
84,506 SF

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.168936760186
Longitude
-115.13649152163
129 8Th St, Las Vegas, Nevada

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129 8Th St
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