1322 Fremont StLas Vegas, NV 89101

Property Details for 1322 Fremont St

Year built

1973

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 AC

Property size (Sq ft)

14,623 SF

Property type

Hospitality properties

Property subtype

Motels

APN

139-35-310-050

APU

13935310050

Description

This exceptional investment opportunity presents a ±21,086 square foot, three-story hospitality building located at 1322 Fremont Street in Las Vegas, Nevada. Currently vacant, this property offers 39 hotel rooms, a sizable restaurant, and a large game/entertainment area. The hotel rooms feature a mix of bed configurations, including bunk beds, double queens, and single kings. Amenities include a swimming pool, lounge area, a fully equipped kitchen, a theater room, coin-operated laundry facilities, and a secure parking lot. Situated on a 0.46-acre lot at the corner of Fremont Street and S. 14th Street, this property enjoys a prime location within walking distance of Downtown Las Vegas' vibrant dining and entertainment scene. Built in 1973, the property's location within an Opportunity Zone provides potential tax benefits for investors. The high daily pedestrian count on Fremont Street (approximately 9,650) and the ongoing revitalization of Downtown Las Vegas contribute to the significant upside potential for this property. This unique mixed-use offering allows for the revitalization and repositioning of both the hotel and restaurant to meet current market demands. The property's APN is 139-35-310-050. Nevada's income tax-free status further enhances the investment appeal. This is a value-add investment opportunity with substantial potential for revenue growth.

• CAP approach

  CAP return

  Valuation

  6%

  $3,919,271

  6.5%

  $3,617,789

  7%

  $3,359,375

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,884,838

  Geo Method

  $6,884,838

• Alternative Use

  Use

  Valuation

  Residential

  $3,949,574

  Hospitality

  $3,617,789

  Educational

  $3,009,958

  Medical

  $3,113,475

  Retail

  $4,682,156

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1647

Longitude

-115.131

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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