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Frontage on Las Vegas Blvd. Opportunity Zone Gateway

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Frontage on Las Vegas Blvd. Opportunity Zone Gateway FRONTAGE ON LAS VEGAS BLVD. S. LAS VEGAS BLVD. OPPORTUNITY ZONE Las Vegas, NV 89104 GATEWAY DISTRICT $125MM City of Las Vegas Improvement Project S. Las Vegas Blvd. // 36,000 CPD 2 2 1 0 S. LAS VEGAS BLVD. Las Vegas, NV 89104 Contents 1 Executive Summary 5 Aerials & Plans 12 Market Overview Investment Team LOGIC Commercial Real Estate GINO VINCENT, CCIM KELLI NAZIRI 3900 W. Hualapai Way, Ste. 200 Senior Vice President Team Strategist Las Vegas, NV 89147 702.954.4113 702.954.4103 702.888.3500 [email protected] [email protected] www.logicCRE.com BS.0000138.LLC S.192972 S. LAS VEGAS BLVD. Las Vegas, NV 89104 01 Executive Summary Property Overview Property Details Investment Highlights $125MM City of Las Vegas Improvement Project S. Las Vegas Blvd. // 36,000 CPD 36,000 // Blvd. Vegas Las S. EXECUTIVE SUMMARY EXECUTIVE S. LAS VEGAS BLVD. Las Vegas, NV 89104 Property Overview Offering Snapshot The Vincent Advisory Group of LOGIC Commercial Real Estate is pleased to present the opportunity to acquire +/-0.53 acres located between the Sahara Las Vegas and The Strat on the northern end of the famous Las Vegas Strip. The property presents a prime redevelopment or owner/user opportunity to benefit from the recent developments on $5,950,000 +/- 3,606 SF the North Strip including the $140MM Strat renovation, $100MM Sahara renovation, the Offering Price Building Size LVCVA’s $987.1MM expansion and the $4.3B Resorts World opening in 2021. Additionally, the property sits just south of the 80-foot Las Vegas Blvd. Gateway Arches at the entrance to the Arts District into Downtown Las Vegas. The property features frontage and direct access to Las Vegas Blvd., which is currently undergoing a $125MM construction project including widening of the street, improving infrastructure and beautification of the landscaping. The property is also situated in the +/- 0.53 AC C-2 Opportunity Zone offering attractive tax incentives to developers. Land Size Zoning The information herein was obtained from sources deemed reliable; however Logic Commercial Real 2 Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. EXECUTIVE SUMMARY EXECUTIVE Property Details Opportunity Zone The Opportunity Zone program provides tax incentives for investments Address Year Built located in specifically targeted communities in Nevada through Opportunity Funds. The tax incentives reduce taxes on realized capital 2210 S. Las Vegas Blvd. 1969 gains that are quickly reinvested into these designated Opportunity Zones Las Vegas, NV 89104 by providing the following benefits: 1. The deferral of capital gains tax: Capital gains rolled into an Opportunity fund will be temporarily deferred. The deferred gain Jurisdiction Land Size would be recognized on the earlier of December 31, 2026, or the date City of Las Vegas +/-0.53 Acres on which the investment will be sold. 2. Capital gains taxes reduced: A step-up basis for capital gains is used for the Fund. The basis is increased by 10% if the investment is held for at least 5 years and increased again by an additional 5% if held for Parcel Number Parking Spaces: at least 7 years. 162-04-813-075 38 Spaces 3. Exclusion of capital gains tax on appreciation if held for at least 10 years: After 10 years, there will be no capital gains tax on profits from investment if sold from an Opportunity Fund. Building Size Zoning Please consult your tax advisor for further information. +/-3,606 SF C-2 (General Commercial District) • First Floor: +/- 2.946 SF • Mezzanine: +/- 660 SF The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. 3 EXECUTIVE SUMMARY EXECUTIVE Investment Highlights Owner/User Or Redevelopment Opportunity Las Vegas Blvd. Frontage & Visibility The property features +/-0.53 acres zoned General Commercial The property features 150 feet of frontage on Las Vegas Blvd. with a offering a prime owner/user or redevelopment opportunity on large pylon sign creating significant visibility and exposure to passing Las Vegas Blvd. walking traffic and over 35,000 cars per day. Path Of Growth On North Strip The property is situated between the Sahara Las Vegas and Opportunity Zone Location The Strat on the north end of the famous Las Vegas Strip. The property is situated within a qualified Opportunity Zone providing Surrounding projects include the $140MM Strat renovation, attractive tax incentives for investors. $100MM Sahara renovation, LVCVA’s $987.1MM expansion and the $4.3B Resorts World opening in 2021. Walking Distance To Convention Center Strong Demographics The property is situated within a densely populated The site is situated less than +/-1-mile from the LVCVA’s area with a population of +/-507,000 within a 5-mile expansion onto the Strip, giving it direct access to radius. Additionally, the site is positioned to benefit from over 6.6MM (2019) attendees annually. the 42MM+ (2019) annual visitors to Las Vegas. The information herein was obtained from sources deemed reliable; however Logic Commercial Real 4 Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. S. LAS VEGAS BLVD. Las Vegas, NV 89104 05 Aerials & Plans Demographics Aerials Site Plan MAPS, AERIALS, & PLANS AERIALS, MAPS, Key Facts: 5-Mile Radius Full Demographic Report Population 1-mile 3-mile 5-mile 507,958 649,630 2020 Population 13,733 178,786 507,958 Total Population Daytime Population 2025 Population 14,686 190,919 539,659 Annual Growth 2010 - 2020 1.04% 0.60% 0.67% Annual Growth 2020 - 2025 1.35% 1.32% 1.22% 26,589 478,720 # of Businesses Total Employees Income 1-mile 3-mile 5-mile 2020 Average Household Income $82,130 $51,618 $53,108 2025 Average Household Income $83,435 $55,208 $57,116 0.7% $194,763 2020 Per Capita Income $38,529 $20,353 $19,102 2025 Per Capita Income $39,166 $21,861 $20,533 2010-2019 Population Growth Median Home Value Households 1-mile 3-mile 5-mile 2020 Total Households 6,442 69,469 181,410 2025 Total Households 6,887 74,611 192,840 Housing 1-mile 3-mile 5-mile Key Spending Facts: 5-Mile Radius 2020 Total Housing Units 10,418 90,496 225,489 2020 Owner Occupied Housing Units 2,307 17,690 65,565 2020 Renter Occupied Housing Units 4,136 51,778 115,845 2020 Vacant Housing Units 3,976 21,027 44,079 $2,000 $1,880.17 2025 Total Housing Units 11,256 97,260 240,266 $1,500 $1,335.37 $1,358.46 2025 Owner Occupied Housing Units 2,475 18,859 69,752 $1,000 2025 Renter Occupied Housing Units 4,412 55,752 123,089 $547.60 2025 Vacant Housing Units 4,369 22,649 47,426 $500 $393.35 $0 Travel Transportation Apparel Entertainment Furniture Spending facts are average annual dollars per household The information herein was obtained from sources deemed reliable; however Logic Commercial Real 6 Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. MAPS, AERIALS, & PLANS AERIALS, MAPS, S. Decatur Blvd. // 54,000 CPD 54,000 // Decatur Blvd. S. Neighborhood Centers Golf Courses Hospitals Casinos S. Valley View Blvd. // 21,800 CPD // Blvd. View Valley S. Nearby Retail VALLEY HOSPITAL MEDICAL CENTER DOWNTOWN LAS VEGAS W. Charleston Blvd. // 39,500 CPD S. Rancho Rd. // 21,800 CPD // Rancho Rd. S. UNLV SCHOOL OF MEDICINE Gateway District W. Oakey Blvd. // 10,600 CPD CPD 28,600 // MarylandS. Pkwy. Sahara Pavilion North CPD 9,700 ArvilleS. St. // Sahara West The Plazas Sahara Rancho Crossings S. Las Vegas Blvd. // 36,000 CPD SUBJECT W. Sahara Ave. // 57,500 CPD E. Sahara Ave. // 70,500 CPD Paradise Rd. // 28,100 CPD 28,100 Paradise Rd. // Sahara Pavilion South S. Valley View Blvd. // 28,700 CPD 28,700 // Blvd. View Valley S. S. Decatur Blvd. // 45,000 CPD 45,000 // Decatur Blvd. S. I-15 Freeway // 326,000 CPD THE LAS VEGAS LAS VEGAS COUNTRY CLUB STRIP Desert Crossing W. Desert Inn Rd. // 45,000 CPD E. Desert Inn Rd. // 45,000 CPD The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. 7 MAPS, AERIALS, & PLANS AERIALS, MAPS, 3-D Aerial I-15 Freeway // 326,000 CPD S. Sammy Davis Dr. // 35,000 CPD S. Industrial Rd. // 15,400 CPD Gateway District S. Las Vegas Blvd. // 36,000 CPD Paradise Rd. // 12,500 CPD SUBJECT E. Sahara Ave. // 70,500 CPD The information herein was obtained from sources deemed reliable; however Logic Commercial Real 8 Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. MAPS, AERIALS, & PLANS AERIALS, MAPS, 3-D Aerial Gateway I-15 Freeway //326,000 CPD District S. Industrial Rd. // 15,400 CPD S. Las Vegas Blvd.SUBJECT // 36,000 CPD Paradise Rd. // 12,500 CPD CPD 12,500 // Rd. Paradise E. Sahara Ave. // 70,500 CPD The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. 9 MAPS, AERIALS, & PLANS AERIALS, MAPS, Site Plan SUBJECT Pylon S. Las Vegas Blvd. // 36,000 CPD W. Cleveland Ave. The information herein was obtained from sources deemed reliable; however Logic Commercial Real 10 Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. MAPS, AERIALS, & PLANS AERIALS, MAPS, Floor Plan First Floor COLD STORAGE KITCHEN STORAGE TO MEZZANINE DINING PASS THROUGH WOMEN’S RESTROOM MEN’S Entrance RESTROOM DINING Mezzanine OFFICE OFFICE STORAGE ATTIC TO FIRST FLOOR STORAGE * Not to scale.
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