Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV SUMMARY EXECUTIVE
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FOR SALE Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV SUMMARY EXECUTIVE Overview SALE PRICE $18,000,000 LOT SIZE 1.13 Acres ZONING H-1 Site Highlights H-1 zoning suitable for casino hotel development (Clark County permitting many uses under the existing zoning) • Las Vegas Strip frontage: 125’ • On the Strip directly across from the Luxor Hotel and Casino • 8 minutes from McCarran International Airport, fresh from a recent $2.4B expansion to increase the airport’s annual capacity by 11 million passengers • Close to I-15 and Russel Rd interchange • Close proximity to 72,000 seat Allegiant Stadium, home of the Raiders NFL football team • Located within Clark County and a part of Clark County’s Gaming Enterprise District Traffic Counts Las Vegas Blvd, S of site 59,600 VPD Tropicana Ave, N of site 89,600 VPD Year: 2019-2020 | Source: CoStar Contact FRANK VOLK 702.245.0909 | [email protected] SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV AERIAL SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV AREA HIGHLIGHTS Las Vegas Area Overview Over 42.5 million people visited Las Vegas in 2019 Center (Jan 2021), McCarran International Airport recently underwent a $2.4 billion Clark County is home to more than 2.3 million residents. The city of Las Vegas sits expansion to increase the airport’s annual capacity by 11 million passengers. at the heart of Clark County and is internationally renowned as the world capital of entertainment. Las Vegas’ gaming, dining, shopping, and business conventions The T-Mobile Arena is home to the NHL Vegas Golden Knights and hosts over 150 are major attractions for national and international visitors. Las Vegas has events annually, including hockey games, concerts, boxing, UFC matches, and approximately 149,422 hotel rooms. major award shows. The T-Mobile Arena is the highest grossing arena in the world. Las Vegas is on the tail end of significant long-term growth. The region has benefited from billions of dollars of public and private investment, large-scale The Allegiant Arena is a 72,000 seat stadium completed in August of 2020, is the infrastructure projects, new casino and venue developments, and record-breaking home of the NFL’s Raiders, and the UNLV Football team. The venue will also host visitation levels. In addition to the recently completed expansion of the Mandalay many other world class events and concerts throughout the year. Bay Convention Center and the planned expansion of the Las Vegas Convention Las Vegas Stats 2015 2016 2017 2018 2019 Visitor Volume 42.3 42.9 42.2 42.1 42.5 Gaming Revenue $11.1B $11.2B $11.5B $11.9B $12.03B Room Occupancy 87.7% 89.1% 88.6% 88.2% 88.9% Average Daily Room Rates $120.67 $125.96 $129.05 $128.85 $132.62 Convention Delegates 5,761,366 6,310,616 7,259,100 6,501,800 6,700,000 Total En/Deplaned Passengers 45.3 47.4 48.5 49.7 51.4 Room Inventory 149,612 149,339 147,268 149,158 149,422 Source: LVCVA SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV AREA HIGHLIGHTS Recent and Upcoming Projects: Las Vegas continues to benefit from public and private investment Genting’s Resorts World $4B Opening May 2021 Development LVCVA Expansion $2.3B Phase 1 January 2021 Allegiant Stadium $1.9B August 2020 Wynn Plaza Retail Expansion $80M Spring 2019 The Park MGM $700M April 2018 Aria Convention $150M Q1 2018 Center Expansion The Park Theatre $100M December 2016 T-Mobile Arena $375M April 2016 SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV AREA HIGHLIGHTS Site Allegiant Stadium • 72,000 seat capacity • Future host of world-class entertainment such as concerts and sporting events • Home of the NFL Raiders and UNLV Rebel Football • Expected to generate an economic benefit of $620M annually while creating 6,000 permanent jobs in Southern Nevada Las Vegas’ First NFL Team A Hot Spot for Sports On March 27, 2017, the NFL owners approved the Raiders’ relocation to Las Vegas. The Las Vegas metropolitan area is home to many sports. The area’s first The $1.9B stadium took three years to build and is located near the southern end of professional team into town are the NHL Vegas Golden Knights. The Las Vegas the Las Vegas Strip (across the I-15 freeway from Mandalay Bay). This new stadium Raiders will be playing their inaugural season in 2020. Las Vegas is also home to one will also host world-class events including college football games, big-name concerts, minor league sports team: The Las Vegas Aviators Minor League Baseball. Las Vegas major UFC fights, soccer matches, and political events. The Raiders will play in the Ballpark hosts this Triple-A professional baseball team in Summerlin. In addition, Las 65,000-seat domed stadium for the 2020 season. It is estimated that Las Vegas can Vegas also has the WNBA team- The Las Vegas Stars and the United Soccer League’s expect $100 million worth of media exposure a year from the Raiders. Las Vegas Lights FC. SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV AREA HIGHLIGHTS Other Area Highlights The Las Vegas Raiders NHL Expansion 20,000 Seats The relocation of the Oakland Raiders T-Mobile Arena hosts over 150 events per T-Mobile Arena, a multi-use indoor arena is anticipated to create a $600M+ year and is the current home of the on the Las Vegas Strip opened in April 2016 economic impact add 450,000+ incremental NHL Vegas Golden Knights visitors and host 45+ events annually Mandalay Bay Convention Center LVCC Expansion $1B public works project recently underwent a 350,000 square foot Las Vegas Convention Center is currently underway to modernize and expand expansion and is now one of the largest in undergoing a $2.5B, 800,000 square foot Las Vegas vehicular infrastructure North America expansion to absorb excess demand Henderson Silver Knights Las Vegas Ballpark Las Vegas Aces are a junior, professional ice hockey team hosts this Triple-A professional are a women’s professional basketball team based in Henderson, NV baseball team in Summerlin based in Las Vegas and part of the WNBA SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof. SRSRE.COM Iconic Opportunity on Las Vegas Strip 3889 Las Vegas Blvd S | Las Vegas, NV INFO ADDITIONAL The site does not sit in an FAA flight path and is outside airport and variance Development Specifications overlay district. H-1 MUD-1 – Limited Resort and Apartment District, Clark County The H-1 MUD-1 Limited Resort and Apartment District is established to provide Stadium District for the development of gaming enterprises, compatible commercial, and mixed commercial and residential uses, and to prohibit the development of incompatible The hotels proximate to the Stadium (and across the Strip from the site) are uses that are detrimental to gaming enterprises. planning to become event focused when Allegiant Stadium is live. Both the rooms and the parking (11,592 rooms and approximately 9,000 parking stalls) will be Unlike other major urban centers, Clark County does not have floor area geared towards patrons of the stadium. To facilitate flow to the stadium, Hacienda restrictions that establish a maximum number of buildable square feet. This Avenue will be shut down and become a pedestrian path to the stadium from site lends itself to a very dense mixed-use project capitalizing on the many uses these properties. This dynamic will create a tremendous amount of traffic and permitted under the existing zoning. visibility for the White Sands Site. SRS REAL ESTATE PARTNERS | 6623 Las Vegas Boulevard S, Suite 390 | Las Vegas, NV 89119 | 702.245.0909 This information contained herein was obtained from sources deemed to be reliable; however SRS Real Estate Partners makes no guarantees, warranties or representations as to the completeness or accuracy thereof.