Downtowner Motel
125 Room Hotel | Las Vegas, NV 89101 | $13,665,000 ($109,320/Room) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $13,665,000
- Property Type
-
Hospitality
- Square Feet
- 50,731 SF
Listing Contacts
Cathy Jones
Verified Profile
Paul Miachika
Verified Profile
Karim Chatoor
Verified Profile
Blaze Katz
Verified Profile
- Property Info
Property Overview
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 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.
Link to access the OM: https://logiccre.com/1031_properties/the-downtowner/
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.
Link to access the OM: https://logiccre.com/1031_properties/the-downtowner/
Property Details
- Class
- C
- Year Built/Renovated
- 1965/2019
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 21,780 SF
- Units
- 125
Highlights
- PRIME DOWNTOWN LAS VEGAS LOCATION: The hotel is situated in the heart of downtown Las Vegas.
- UPSIDE POTENTIAL: The redevelopment of Downtown Las Vegas continues to gain momentum and will benefit this property long-term.
- STRONG HISTORICAL PERFORMANCE & RECENT IMPROVEMENTS: The hotel has consistent revenue growth over the past several years.
- PARKING LOT LEASE AGREEMENT & FUTURE DEVELOPMENT OPPORTUNITY: The parking lot is currently leased until May 31, 2024 providing a secure income stream.
- OPPORTUNITY ZONE: The hotel is located within a designated Opportunity Zone in Las Vegas offering exceptional tax advantages.
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