129 8Th StLas Vegas, NV 89101

Property Details for 129 8Th St

Year built

1963

Construction

FRAME

Lot size

0.50 AC

Property size (Sq ft)

27,638 SF

Property type

Motels

APN

139-34-612-017

APU

13934612017

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,407,564

  6.5%

  $6,837,752

  7%

  $6,349,341

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,012,592

  Geo Method

  $13,012,592

• Alternative Use

  Use

  Valuation

  Residential

  $7,464,838

  Hospitality

  $6,837,752

  Educational

  $5,688,929

  Medical

  $5,884,580

  Retail

  $8,849,445

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1688

Longitude

-115.137

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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