129 N 8th St - Hospitality FOR SALE


Las Vegas, NV 89101
$18,100,000 USD
702-595-8765
129 N 8th St, Las Vegas, NV for Sale
$18,100,000 USD
Hospitality - FOR SALE
1/13
null | Request Cap Rate

129 N 8th St
Las Vegas, NV 89101


HIGHLIGHTS

  • PRIME DOWNTOWN LAS VEGAS LOCATION: The hotel is situated in the heart of downtown Las Vegas.
  • VALUE-ADD OPPORTUNITY: Qualified Buyers have the opportunity to purchase six (6) additional parcels in conjunction with The Downtowner.
  • STRONG HISTORICAL PERFORMANCE & RECENT IMPROVEMENTS: The hotel has consistent revenue growth over the past several years.
  • OPPORTUNITY ZONE: The hotel is located within a designated Opportunity Zone in Las Vegas offering exceptional tax advantages.
  • FAVORABLE MARKET CONDITIONS: The city has consistently seen strong tourism numbers.

OVERVIEW

The Downtowner Boutique Hotel The Downtowner Boutique Hotel, featuring 125 limited-service hotel rooms on ±0.82 AC, is located in an Opportunity Zone in the heart of downtown Las Vegas. The Property is situated on the southwest corner of E. Ogden Avenue and N. 8th Street with ample frontage across both streets. The Downtowner Boutique Hotel consists of 2 buildings, the Main Building and the Wylde, and an interior event area along with a ±0.15 AC rectangular parking lot which can accommodate up to 19 parking spots. The Main Building is located at 129 N. 8th Street followed by the Wylde which is adjacent to the main building and is located at 121 N. 8th Street, and lastly a ±0.15 parking lot to the west of the Main Building located at 100 N 7th. Street. In addition, the hotel features include Wi-Fi in all rooms, express check-in/check-out, a fitness center and a 6-hole mini golf course in the courtyard. There were also significant capital expenditures by ownership to upgrade the Fairway rooms located in the Main Building in 2018/2019 and the Wylde rooms in 2024. The Annex Parcels This additional offering to The Downtowner Boutique Hotel is comprised of (i) a closed, 41-room, 2-story Annex Building situated on ±0.16 acres located at 110 N. 8th St. and the parking lot situated on ±0.48 acres located at 108 N. 8th St., formerly operating as part of The Downtowner, (ii) a closed, 11-unit, 2-story apartment building with a pool situated on ±0.16 acres located at 120 N. 8th St. and the parking lot situated on ±0.16 acres located at 124 N. 8th St., and (iii) an undeveloped corner lot situated on ±0.16 acres located at the northeast corner of N. 8th St. and Fremont St. with an address of 800 Fremont St. All Properties are situated within an Opportunity Zone on ±1.12 acres with frontage on N. 8th St. between E. Ogden Ave (±3,350 CPD) and Fremont St. (±13,100 CPD). Total Rooms: 166 Operating Hotel Rooms: 125 Non-Operating Hotel Rooms: 41* Non-Operating Apartments: 11* *Requires Significant Repairs Link to access the OM: https://logiccre.com/1031_properties/the-downtowner-annex-parcels/

FOR SALE DETAILS

PRICE

$18,100,000 USD

PRICE/SF

$357 USD /SF

# OF ROOMS

166

PRICE/ROOM

$109,036 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downtowner Boutique Hotel & Annex Parcels

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1965

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

C2

APN/PARCEL ID

139-34-612-009,139-34-612-017,139-34-612-018,139-34-612-029,139-34-612-030,139-34-612-031,139-34-612-032,139-34-612-033,139-34-612-034

ASK ABOUT THIS PROPERTY

Cathy JonesLogic Commercial Real EstateMore Info
702-595-8765

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Cathy JonesLogic Commercial Real EstateMore Info
702-595-8765

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.