VALLEY VIEW BL

VD WEST FLAMINGO

SITE na Ave. a Tropi c

SITE ingo Rd. m Fl a Valley View Blvd Valley View Blvd e.

on A v ±8.6 ACRES LAND m Ha r 3883 W FLAMINGO ROAD , NV 89103

City Center 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

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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 . 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 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 . 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 Tropi c

SITE ingo Rd. THERE ARE CURRENTLY 3 (THREE) BILLBOARDS LOCATED ON m Fl a 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. on A v m

Billboard # Lease Income (annually) Expiration Extension Ha r

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

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Clark County, the most populous of Nevada’s KEY LAS VEGAS ECONO MIC TRENDS 17 counties, is home to more than two million (L A S VEGAS CONV ENT ION A ND V ISI T ORS AUT HORITY) residents, about 73% of the state’s population. Statistic 2012 2013 Nov 2014 TTM

Visitor Volume 39,727,022 39,668,221 40,962,787

The estimated average household income is Gaming Revenue $9,399,860,000 $9,673,050,000 $9,643,305,000 approximately $62,201. The city of Las Vegas Room Occupancy 84.4% 84.3% 86.5% sits at the heart of Clark County and is interna- tionally renowned as the world capital of enter- Average Daily Room Rates $108.08 $110.72 $116.27 tainment. Las Vegas’ gaming, dining, shopping Conventions Held 21,615 22,027 22,143 and business conventions are major attractions Convention Delegates 4,944,014 5,107,416 5,163,195 for national and international visitors. Las Vegas Total En/Deplaned Passengers 41,667,596 41,857,059 42,814,344 has approximately 150,256 hotel rooms. Over Room Inventory 150,481 150,593 150,256 39.6 million people visited Las Vegas in 2013.

VIS ITOR V O L U M E VS. GAMING R EVENUE

11,000,000,000 42,000,000

41,000,000 10,000,000,000 40,000,000

39,000,000 9,000,000,000 38,000,000

8,000,000,000 37,000,000

36,000,000 7,000,000,000 35,000,000

34,000,000 6,000,000,000 33,000,000

5,000,000,000 32,000,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM Nov 2014 GAMING REVENU E

VISITOR VOLUME

Property sold for $65 million in 2007 Market Overview

As of August 2014, Las Vegas unemployment stands at 7.7%, which is about 230 basis points lower than it was in 2013 at 10.0%. Tourism is the highest economic sector for Las Vegas representing 31.5% of the market, however professional and business services and retail trade make a signi cant impact representing 13.1% and 11.8% of the market, respectively.

2008 2009 2010 2011 2012 2013 INDICATORS 2014 2015 2016 2017 2018 2019

92.5 83.6 81.7 81.2 82.7 84.7 Gross metro product (C$B) 86.8 90.6 94.1 96.8 98.7 100.6 -3.5 -9.6 -2.2 -0.7 1.9 2.5 % change 2.5 4.4 3.8 2.9 2.0 1.9 912.3 826.8 803.7 808.3 824.8 848.6 Total employment (ths) 877.1 904.3 931.1 954.8 970.3 984.6 -1.7 -9.4 -2.8 0.6 2.0 2.9 % change 3.4 3.1 3.0 2.5 1.6 1.5 7.0 11.9 14.1 13.6 11.7 10.0 Unemployment rate (%) 7.7 6.3 6.2 5.9 5.5 5.0 0.5 -6.2 -0.1 1.8 3.9 3.1 Personal income growth (%) 5.5 8.1 8.3 7.5 6.2 5.0 57.0 53.8 51.2 48.7 49.4 50.4 Median household income ($ ths) 51.7 53.9 55.9 58.1 60.3 62.0 1,912 1,939 1,953 1,967 1,998 2,028 Population (ths) 2,061 2,104 2,155 2,208 2,263 2,318 2.4 1.4 0.7 0.7 1.6 1.5 % change 1.7 2.1 2.4 2.5 2.5 2.4 26.9 10.5 -1.2 0.5 18.9 17.0 Net migration (000) 21.4 30.4 38.5 41.3 42.1 43.0 5,840 3,777 4,623 3,817 6,108 7,067 Single-family permits 6,142 8,314 14,702 16,510 16,463 15,103 6,697.0 1,911.0 851.0 1,330.0 1,267.0 1,506.0 Multifamily permits 2,498.3 3,274.4 5,147.4 4,867.0 5,220.4 5,221.0 219 144 138 125 134 174 Existing-home price ($ ths) 195 204 214 220 227 236

LAS VEGAS TOP EMPLOYERS

Firm Employees Construction, 4.8% Mining, 0.0% Manufacturing, 2.4% MGM Resorts International 52,506 Tranportation/Utilities, Caesars Entertainment Corp. 24,000 4.3% Station Casinos Inc. 13,000 Other Services, 2.9% Government, Wholesale Trade, 2.4% 11.2% Nellis Air Force Base 12,384 Wynn Las Vegas LLC 11,720 Boyd Gaming Corp. 9,100 Las Vegas Sands Corp. 8,630 Las Vegas Metropolitan Police Depart7,00men0t Retail Trade, 11.8% Wal-Mart Stores Inc. 6,475 Information, 1.1% The Valley Health System 5,267 Leisure and Hosp. Services, 31.5% Cosmopolitan of Las Vegas 4,373 Financial Activities, 5.1% SuperValu Inc. 4,024 Prof. and Bus. University Medical Center of S. Nevad3,80a 0 Services, 13.1% Educ. and St. Rose Dominican Hospitals 3,367 Health Sears Holdings Corp. 2,872 Services, University of Nevada-Las Vegas 2,798 9.3% Sunrise Hospital and Medical Center 2,761 Target Corp. 2,683 Southwest Airlines Co. 2,620 United Healthcare 2,515 A majorrevitalization I The When V Philharmonic andNevada Ballet TheaterandfeaturesBroadwaycaliberentertainment. n e

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e s g l a a i t i d a t n s i i n o ’ s e n RECREATION SPORTS EDUCATION

Just beyond the Strip, Las Vegas offers a variety of outdoor Although Las Vegas does not have a professional sports team, it Las Vegas offers a variety of post-secondary school recreation activities: offers a variety of sporting events that attract both residents and opportunities, including the following. visitors throughout the year. • Red Rock Canyon National Conservation Area consists of a 13- • UNLV is a major university with over 27,000 mile scenic loop, which includes over 30 miles of hiking trails • The University of Nevada Las Vegas (UNLV) has men’s students and 220 undergraduate, graduate and situated on 195,819 acres. and women’s teams in 16 sports at the NCAA Division I doctoral degree programs, including a highly intercollegiate level. ranked law school, and one of the world’s top • Valley of Fire is a scenic hiking area within an hour’s drive of hospitality programs. It was rst established in the Strip. • The Las Vegas 51s are the AAA af liate of the Toronto Blue 1957 and the main campus encompasses about Jays. The 51s play at the 9,000 seat Cashman Field near 337 acres. • , just north of Las Vegas, offers summer . hiking, camping and picnic areas, as well as skiing and • College of Southern Nevada (CSN) is the 3rd • The Las Vegas Wranglers are af liated with the National snowboarding in the winter. largest multi-campus 2-year college in the country. Hockey League’s Phoenix Coyotes. The Wranglers host games at the Orleans Arena. • Lake Mead, home to a variety of water sports, is Nevada’s • largest man-made lake and boasts over 820 miles of shoreline • The are the reigning two-time UFL and six marinas, eight campgrounds and ve motels. • The Art Institute of Las Vegas champions, and host games at , which seats 36,800. • Golf enthusiasts have over 60 golf courses to choose from in • University of Phoenix (satellite campus) the Las Vegas metro area. • The National Finals Rodeo is held annually in Las Vegas. • Embry-Riddle Aeronautical University (satellite campus) • Many world championship boxing matches, as well as Ultimate Fighting Championship matches are held in Las Vegas. • Regis University (satellite campus) • The , located just north of Las Vegas along I-15, is a major venue for racing events, such as the Indy Racing League and the NASCAR Nextel Cup.

TRANSPORTATION

• Las Vegas is located at the major junction of I-15 and US-95, and is within a one day drive of Los Angeles, San Diego, San Francisco, Phoenix, Denver, Salt Lake City and Reno.

• McCarran International Airport is conveniently situation just minutes from the Las Vegas Strip, and is the 7th busiest airport in the country. Over 34 airlines provide non-stop service to 144 domestic and international destinations.

• The Citizens Area Transit (CAT) serves Clark County with 51 bus routes and operates with a eet of 364 full accessible buses that are equipped with wheelchair lifts.

• The is an elevated train system that connects major hotels and attractions along a 7 stop, 3.9 mile ATTRACTIVE TAX STRUCTURE route on the Strip. The local tax structure is attractive to individuals and businesses, as Nevada imposes no personal income, estate, business, or gift tax. Another positive for Las Vegas is the local economy. Las Vegas’ economic recovery was expected to trail the national recovery; however, Las Vegas has grown at a faster rate than the national economy. Line of sight direct to heart of resort corridor

VD VALLEY VIEW BL

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WEST FLAMINGO FOR MORE INFORMATION, PLEASE CONTACT:

Chris Beavor Jeff Hatfield Kent Barry

9325 W. Sahara Avenue 9325 W. Sahara Avenue 9325 W. Sahara Avenue Las Vegas, NV 89117 Las Vegas, NV 89117 Las Vegas, NV 89117 702.730.2080 O 702.730.2080 O 702.730.2080 O 702.947.6111 F 702.947.6111 F 702.947.6111 F [email protected] [email protected] [email protected] Caicap.com Caicap.com Caicap.com