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325 E Flamingo Rd | Las Vegas, NV 89169

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325 E Flamingo Rd | Las Vegas, NV 89169 THE FORTUNE HOTEL EXPANSION PHASE TWO 40479 DECEMBER 21, 2019 THE FORTUNE HOTEL 325 East Flamingo Road EXPANSION MASTER PLAN Las Vegas, NV 89113 PROJECT # 2019185 325 E Flamingo Rd | Las Vegas, NV 89169 7 Anders Graciano 6064 South Durango Drive, Redevelopment Opportunity LIC#S.0179938.LLC Las Vegas, NV 89113 702.443.2881 702.383.3383 | naivegas.com Location, Location, Location [email protected] Offering Memorandum Terms and Conditions Non-Warranty This offering, including any related digital marketing, contains selected information Neither the seller or NAI Vegas, nor any of their respective directors, officers, Affiliates pertaining to the Property and does not purport to be a representation of the state or representatives make any representation or warranty, expressed or implied, as to the of the Property, to be all-inclusive, or to contain all or part of the information which accuracy or completeness of this Offering Memorandum or any of its contents, as to the interested parties may require to evaluate a purchase or lease of real property. financial performance of the property, or as to the condition of the Property, malfunctions or mechanical defects on the Property or to any improvements thereon, including but Financial Information not limited to the material, workmanship or mechanical components of the structures, foundations, roof, heating, plumbing, electrical or sewage system, drainage or moisture Any and all financial projections and information are provided for general reference conditions, air conditioning, or damage by the presence of pests, mold or other organisms, purposes only and have been gathered from sources deemed reliable. Certain environmental condition, soils conditions, the zoning of the Property, the suitability of the assumptions have been made relating to the general economy, market conditions, Property for Interested parties intended use or purpose, or for any other use or purpose. competition and other factors beyond the control of seller and NAI Vegas. Therefore, all projections, assumptions and other information provided and made herein are subject No Obligation to material variation. No legal commitment or obligation shall arise by reason of your receipt of this Memorandum Summary Documents or use of its contents; Interested Parties are to rely solely on its investigations and inspections of the Property in evaluating a possible purchase or lease of the real property. Additionally, all references to acreage, square feet, and other measurements are The seller expressly reserves the right, at its sole discretion, to reject any or all offers to approximations. Any demographics, geographic information systems(GIS), maps, purchase or lease the Property, and/or to terminate discussions with any entity at any photography, zoning, site plan, survey, engineering, architectural drawings, and time, with or without notice, which may arise as a result of review of this Memorandum. any other information are without assurance of their accuracy, time sensitivity, completeness, or status of approval. Documents presented may be preliminary, have Confidentiality no assurance of being “as built”, and may not reflect actual property boundaries or improvements. Additional information and an opportunity to inspect the Property can By receipt of this Memorandum, you agree that this Memorandum and its contents are be made available to qualified parties. In this Memorandum, certain documents are confidential in nature, that you will hold and treat such in the strictest confidence and described in summary form. These summaries do not purport to be complete nor that you will not disclose this Memorandum, or any of its contents, to any other entity necessarily accurate descriptions of the full documents referenced herein. Interested without the prior written authorization of the seller or NAI Vegas. If after reviewing this parties are expected to review and confirm all such summaries and other documents Memorandum, you have no further interest in purchasing or leasing the Property, please of whatever nature independently and not rely on the contents of this Memorandum in delete or return this Memorandum to NAI Vegas. any manner. Content 04 Property Highlights 05 Property Summary 06 Current Rooms & Amenities 13 Conceptual Plans 16 2020 Expansion Idea 24 Expansion Renderings 26 Maps 28 Demographics 30 Las Vegas Overview Offered By: Anders Graciano NAI Vegas | naivegas.com 3 Property Highlights • Location, location, location • Redevelopment Opportunity • Situated in the heart of Las Vegas • Previously approved plans for the site included expansion of the gaming enterprise district for a new resort hotel • Highly attractive non-gaming property 2-3 minutes from the Las Vegas Strip • Easy access to the Las Vegas Strip, McCarran International Airport, the Convention Center, T-Mobile Arena and the new Las Vegas Raiders Stadium • Independently Owned and Managed, unencumbered by management Offered By: Anders Graciano NAI Vegas | naivegas.com 4 Property Summary LIST PRICE $18,900,000 LEASE TO BUY 2-5 YEAR LEASE INVESTMENT OPPORTUNITY JOINT-VENTURE TOTAL SQFT ±127,167 LOT SIZE ±5.68 AC YEAR BUILT 1991 ZONING H-1 Acquisition and Investment Options • Option 1: The property can be purchased outright. • Option 2: To offset the current Covic financing challenges we offer the opportunity to lease to buy.The lease will be 2-5 years NNN, depending on when financing is available, after which the already in-place sales and purchase agreement will step into effect and the property change hands. Upon execution of the lease and purchase and sales agreement, an immediately non-refundable earnest money deposit in the amount of $500,000 is due. • Option 3: Joint-venture with the current owner to redevelop the hotel. The following drawings and renderings are conceptual only, not a predetermined goal for the final outcome. FOR MORE INFORMATION CLICK HERE OR TEXT 20551 TO 39200 Offered By: Anders Graciano NAI Vegas | naivegas.com 5 Current Property Matrix OWNERSHIP INTEREST Fee Simple FRANCHISE AFFILIATION None Offered free of any management MANAGEMENT CO encumbrance (independently managed) ADDRESS 325 E Flamingo Rd, Las Vegas, NV 89169 SITE SIZE ±5.68 Acres NUMBER OF ROOMS 150 Suites BUILDING AREA ±127,167 SF 3 (Three), 3-story buildings; BUILDING DESCRIPTION interior corridors YEAR BUILT 1991 PARKING SPACES ±85 Spaces FOOD & BEVERAGE Breakfast Lounge & Bar ±1,000 SF of Meeting Space MEETING FACILITIES in Main Building GUEST AMENITIES Outdoor Swimming Pool The property is zoned H-1 and is located in the AE-60 zone in the MUD-1 Overlay District. MUD-1 allows for the most intense urban form, designed to allow highly concentrated and intense development with high-rise buildings with heights exceeding 200 feet or more and ZONING densities exceeding 50 dwelling units per acre. The site was from 2015-2018 approved for a Special Use Permit for a structure with the maximum height of 261 feet. Newer studies have indicated a structure higher than 261 feet can be approved subject to a hearing and Special Use Permit approval. Offered By: Anders Graciano NAI Vegas | naivegas.com 6 Current Room Types STANDARD QUEEN 72 Rooms STANDARD KING 53 Rooms JACUZZI SUITE 9 Rooms PET QUEEN 7 Rooms EXECUTIVE SUITE 4 Rooms ADA ACCESSIBLE 3 Rooms PARLOR SUITE 2 Rooms TOTAL 150 Rooms • The standard King, Queen, Pet Queen and ADA room all offer TV, phone, refrigerator, free wifi and bathroom with a bathtub • The Jacuzzi Suite offers, in addition to above, a separate room with a sofa and TV, bar area with microwave & 2 bar stools and a jacuzzi and shower in the bathroom • The Executive Suite offers, in addition to above minus the jacuzzi, a small meeting table Offered By: Anders Graciano NAI Vegas | naivegas.com 7 Offered By: Anders Graciano NAI Vegas | naivegas.com 8 Current Amenities Business Center The Business Center provides access to phone service, complimentary printing services, express mail, fax, and photo coping service. The entire hotel offers free WiFi. Meeting Room The hotel offers access to 2 versatile on site meeting rooms. The lower level meeting room seats 50, and the upper level meeting room seats 90. Boardroom The hotel also offers access to a 10 seat boardroom on the upper level. Food & Beverage Complimentary hot breakfast is provided to guests each morning. Within walking distance of the hotel include Dunkin’ Donuts, Ferraro’s Italian Restaurant, Capriotti’s Sandwich Shop, Hofbrauhaus, and much more. Outdoor Pool The courtyard feature an outdoor pool with lounging chairs for guests. The hotel offers FREE parking and FREE Airport Shuttle Offered By: Anders Graciano NAI Vegas | naivegas.com 9 Offered By: Anders Graciano NAI Vegas | naivegas.com 10 Offered By: Anders Graciano NAI Vegas | naivegas.com 11 Offered By: Anders Graciano NAI Vegas | naivegas.com 12 Conceptual Plans 2015 - 2018 • The ±5.68 acres, with only the current structure built on around half that, offers a prime redevelopment opportunity with previous plans for site development approved by Clark County Department of Comprehensive Planning and Land Use Planning • The approved plans for the site included expansion of the gaming enterprise district for a new resort hotel which includes: • 794 Rooms • 261 feet total building height (26 stories) • ±100,462 SF gaming area • ±48,130 SF public space (restaurants, retail sales, spa area, and other accessory use) • ±29,117 SF convention center facilities • ±36,479 SF back-of-house area • All previously approved plans and special-use permit are subject to re-submitted and re-approval as they expired in June 2018 NOTE: The renderings are conceptual only, they are meant for creative brainstorming and not a predetermined goal for the final outcome Offered By: Anders Graciano NAI Vegas | naivegas.com 13 2015 - 2018 Conceptual Plans Offered By: Anders Graciano NAI Vegas | naivegas.com 14 2015 - 2018 Conceptual Plans Offered By: Anders Graciano NAI Vegas | naivegas.com 15 2020 Expansion Idea THE FORTUNE HOTEL EXPANSION PHASE TWO The 2020 re-development idea is done in 2 phases: Phase 1 The existing structure is kept intact, and the hotel stays open for business.
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