The Downtowner

121 N. 8th Street Las Vegas, NV 89101, 129 N. 8th Street Las Vegas, NV 89101, 110 N. 7th Street Las Vegas, NV 89101

— For Sale —

Offering Price $13,665,000

Price Per Unit $109,320

Cap Rate 7.50%

Total Rooms 125

Property Information

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 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 Second Building which is adjacent to the Main Building and is located at 121 N. 8th Street, and lastly a +/- 0.15 AC parking lot to the west of the Main Building located at 110 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 renovate the Fairway rooms located in the Main Building in 2018/2019 thereby enhancing the quality of service being offered to its guests and setting them apart from other boutique hotels in the vicinity.

The prime location of this well-positioned limited-service hotel, and the scarcity of similar assets makes this an attractive acquisition opportunity for qualified personnel who would like to play an active part in the revitalization of Downtown Las Vegas that would resonate with Tony Hsieh’s vision for Downtown Las Vegas.

Contact

Brokerage

Cathy Jones,
CPA, SIOR, CCIM

Executive Vice President
Las Vegas
License B.0056010.CORP
C 702.595.8765
More Info
Brokerage

Paul Miachika

Executive Vice President
Las Vegas
License S.0184612
C 602.814.0661
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Brokerage

Karim Chatoor

Associate
Las Vegas
License BS.0146002
C 248.525.1423
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Brokerage

Blaze Katz

Associate
Las Vegas
License S.0195070
C 702.690.0407
More Info