±8.6 ACRES LAND M Ha R 3883 W FLAMINGO ROAD LAS VEGAS, NV 89103
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Tropicana Ave. Valley V i ew Blvd City Center Harmon Ave. Valley V i ew Blvd SITE Flamingo Rd. V ALLEY VIEW B VIEW ALLEY L VD S 3883 WFLAMINGO ROAD IT LAS VEGAS, NV89103 E WEST FLAMINGO ±8.6 ACRES LAND THE COSMOPOLITAN CITY CENTER BELLAGIO THE LUXOR MANDALAY BAY EXCALIBUR RIO VD VALLEY VIEW BL SITE WEST FLAMINGO Y WA SH AL FLU ROY ACRES GOLD COAST ±8.6 LAND 3883 W FLAMINGO ROAD • LAS VEGAS, NV 89103 THE COSMOPOLITAN CITY CENTER BELLAGIO THE LUXOR MANDALAY BAY EXCALIBUR RIO VD VALLEY VIEW BL SITE WEST FLAMINGO Y WA SH AL FLU ROY GOLD COAST Executive Summary THE OFFERING CAI Investments is pleased to present the opportunity to purchase approximately 8.6 acres of land in the heart of the Las Vegas Resort Corridor. The property is located on W. Flamingo Road directly east of the Palms Hotel Casino. The site’s location just west of Interstate 15 gives the property remarkable panoramic views of the world-famous Las Vegas Strip. The site lends itself to a number of potential uses including the development of hotel, casino, retail and/or multifamily. Las Vegas is once again among the leading expanding economies in America with record economic activity expected for the next few years. In 2014, Las Vegas set visitation records with over 40 million tourists coming to the city. The subject prop- erty is a tremendous opportunity to capitalize on the resurgence of the Las Vegas economy and participate in its future. INVESTMENT SUMMARY Address 3883 W Flamingo Road, Las Vegas, NV 89103 Land Acreage 8.6 Zoning H-1 Flamingo Frontage 610’ Price 25 MILLION The property is subject to billboard leases as outlined PALMS STRATOSHPERE ENCORE PALAZZO WYNN THE LINQ BELLAGIO VENETIAN CAESARS TI MIRAGE RIO WEST FLAMINGO GOLD COAST VALLEY VIEW BL SITE VD INVESTMENT HIGHLIGHTS PRIME LOCATION IN THE LAS VEGAS RESORT CORRIDOR The subject property is located just west of Interstate 15 and has unobstructed views of the Las Vegas Strip. The property is surrounded by hotel casinos properties that are frequented by both tourists and locals because of its location off of the “Strip”. This off-Strip location lends itself to a number of uses in addition to hotel casino including retail, timeshare and multifamily. THE PROPERTY IS LOCATED ON W. FLAMINGO ROAD DIRECTLY EAST OF CONVENIENT ACCESS THE PALMS HOTEL CASINO. The property has excellent and convenient access due to its location on W. Flamingo Road which is THE SITE’S LOCATION JUST a major east west arterial in Las Vegas. The property is also located just west of the Flamingo exit for WEST OF INTERSTATE 15 Interstate-15 which is one of the busiest interchanges in the state of Nevada. GIVES THE PROPERTY REMARKABLE PANORAMIC ESCALATING LAND PRICES AND DEVELOPMENT DEMAND VIEWS OF THE WORLD FAMOUS LAS VEGAS STRIP. The Las Vegas market experienced a 90% decline in land values from the peak of the market in 2008. While the market is improving, the subject property can be purchased at a discount to peak market values. With continued growth in Las Vegas and the improvement of the overall economy it is expected that land values will continue to rise over the next 24 to 36 months. Site Overview 3883 W FLAMINGO ROAD LAS VEGAS, NV 89103 LOCATION The subject property is an 8.60 acre site with 610’ of frontage on W. Flamingo Road in the Las Vegas resort corridor. The site is located at the southwest VALLEY VIEW BL SITE corner of West Flamingo Road and Valley View Avenue. The Gold Coast Hotel WEST FLAMINGO VD Casino is located across the street to the north, the Palm Hotel Casino is located adjacent to the west, a parking lot utilized by the Palms is located to the south, and vacant land is located to the east. FLOOD ZONE 610’ OF FRONTAG E ON WEST FLAMINGO ROAD Zone: “X” Flood Map: 320003C2552F Flood Map Date: November 16, 2011 REAL ESTATE TAXES PROPERTY ADDRESS PARCEL NUMBER 2014 ASSESSMENT 2014 TAXES 3883 W Flamingo Road 162-19-502-002 $1,615,600 $89,302 Site Overview THERE ARE CURRENTLY 3 (THREE) BILLBOARDS LOCATED ON THE SUBJECT PROPERTY. THE BILLBOARDS ARE LEASED AND OPERATED BY CLEAR CHANNEL COMMUNICATIONS. SUMMARY PALMS TERMS OF THE LEASES ARE BELOW: Billboard # Lease Income (annually) Expiration Extension 919 $33,799.92 October 31, 2016 2 years #919 920 $33,799.92 October 31, 2016 2 years 921 $18,000.00 October 31, 2016 2 years #921 #920 VALLEY VIEW BL VD WEST FLAMINGO GOLD COAST Site Overview na Ave. a c Tropi SITE ingo Rd. m THERE ARE CURRENTLY 3 (THREE) BILLBOARDS LOCATED ON a Fl Valley View Blvd THE SUBJECT PROPERTY. THE BILLBOARDS ARE LEASED AND Valley View Blvd OPERATED BY CLEAR CHANNEL COMMUNICATIONS. SUMMARY PALMS TERMS OF THE LEASES ARE BELOW: e. v on A m r Billboard # Lease Income (annually) Expiration Extension Ha 919 $33,799.92 October 31, 2016 2 years #919 920 $33,799.92 October 31, 2016 2 years 921 $18,000.00 October 31, 2016 2 years #920 #921 Planned offramp VALLEY VIEW BL direct from City Center corridor will VD WEST FLAMINGO GOLD COAST offer strip traffic an alternate route to the property City Center Parcel Overview . K . K P C P O C A O This map is for assessment use only and does NOT represent a survey. E A O ASSESSOR'S PARCELS - CLARK CO., NV. E S This map is for assessment use only and does NOT represent a survey. M ASSESSOR'S PARCELS - CLARK CO., NV. O S B M T21B TS2R16S1RE61E 19 19 N 2 NNE24NE 4 162-1196-52-19-5 126 125 124 123 122 Michele W. Shafe - Assessor 126 124 123 122 No liability is assumed for the accuracy of the data deliniated herein. Michele W. Shafe - Assessor 125 8 4 8 48 4 8 4 No liability is assumed for the accuracy of the data deliniated herein. ROAD PARCEL NUMBER 6 5432 1 Information on roads and other non-assessed parcels may be obtained PARPCAERLCBEOLUNDBOUNDARYARY CONDCOMNDINOIUMMINUNIUMIT UNI00T 1 ROAD PARCEL NUMBER 6 5432 1 001 141 5 1 5 1 Information on roads and other non-assessed parcels may be obtained D 137 138 139 140 7 8 9 10 11 12 SUB BOUNDARY PARCEL NUMER 141 5 1 5 1 D AIR SPACE PCL 139 140 S from the Road Document Listing in the Assessor's Office. SUB BOUNDARY 001 PARCEL NUMER 137 138 7 8 9 10 11 12 N AIR SPACE PCL S 001 from the Road Document Listing in the Assessor's Office. PM/LD BOUNDARY 18 17 16 15 14 13 N ACREAGE E 1.00 E PM/LD BOUNDARY RIGHT OF WAY PCL ACREAGE 160 18 17 16 15 14 13 6 2 E 1.00 2 6 E 164 163 162 161 T ROAD EASEMENT RIGHT OF WAY PCL 19160 20 21 22 23 24 6 2 6 2 G 164 163 162 161 T This map is compiled from official records, including surveys and deeds, ROAD EASEMENT PARCEL SUB/SEQ NUMBER 19 20 21 22 23 24 G SUB-SURFACE PCL E O MATCH / LEADER LINE 202 This map is compiled from official records, including surveys and deeds, SUB-SURFACE PCL PARCEL SUB/SEQ NUMBER 30 29 28 27 26 25 7 3 E O MATCH / LEADER LINE 179 3 7 L 202 but only contains the information required for assessment. See the 175 176 177 178 30 29 28 27 26 25 N HISTORIC LOT LINE PB 24-45 PLAT RECORDING NUMBER 179 7 3 7 3 but only contains the information required for assessment. See the L 176 177 178 7 175 1 31 32 33 34 35 36 7 N PLAT RECORDING NUMBER 3 HISTORIC LOT LINE PB 24-45 P 8 3 1 1 1 . recorded documents for more detailed legal information. 5 9 . 7 . 1 31 32 33 34 35 36 7 8 8 HISTORIC SUB BOUNDARY . 3 8 P 4 8 8 3 1 BLOCK NUMBER 8 4 1 2 9 . A 1 4 8 recorded documents for more detailed legal information. 4 24 5 . 9 . 191 190 189 4 193 192 . 85 8 8 HISTORIC SUB BOUNDARY . 21 2 2 8 4 2 7 3 8 1 BLOCK NUMBER 5 8 4 2 9 . 48 5 2 USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL A 1 4 8 4 24 . 4 . 0 191 190 189 40.33 4 HISTORIC PM/LD BOUNDARY 193 192 8 2 2 M 2 2 2 2 2 7 3 LOT NUMBER 1 5 48 5 40 2 USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL 40.33 4 0 HISTORIC PM/LD BOUNDARY 2 M 5 5 1 1 2 2 SECTION LINE 5 LOT NUMBER 0 40 100 200 400 600 800 GL5 GOV. LOT NUMBER Scale: 1" = 200 ' Rev: 02/08/2011 4 PM 97-3 SECTION LINE 5 5 1 1021 1 . 0 100 200 400 600 800 GL5 GOV. LOT NUMBER Scale: 1" = 200 ' Rev: 02/08/2011 4 0 PM 97-3 R=54 021 146.96 1 8 . 60 0 2 2 R=54 146.96 8 1 2 2 2 3 6R0=25 2 1215.94 50 1 1 0 75 375.27 374.52 107.84 R=18.5 127.28 2 195.6 3 1215.94 50 1 1 2 375.27 R=25 1 107.84 R=18.5 127.28 195.60 75 374.52 0 3 8 5 0 .