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121 N 8th St - The Downtowner Boutique Hotel 50,731 SF Hospitality Building Offered at $11,500,000 at a 8.60% Cap Rate in Las Vegas, NV 89101
INVESTMENT HIGHLIGHTS
- PRIME DOWNTOWN LAS VEGAS LOCATION: The Hotel is in the heart of Downtown Las Vegas, just a short walk to the entrance of Fremont Street Experience.
- STRONG HISTORICAL PERFORMANCE & RECENT IMPROVEMENTS: The hotel has consistent revenue growth over the past several years.
- FAVORABLE MARKET CONDITIONS: The city has consistently seen strong tourism numbers.
- VALUE-ADD OPPORTUNITY: Qualified Buyers have the opportunity to purchase six (6) additional parcels in conjunction with The Downtowner.
- OPPORTUNITY ZONE: The hotel is located within a designated Opportunity Zone in Las Vegas offering exceptional tax advantages.
EXECUTIVE SUMMARY
LINK TO OM: https://logiccre.com/1031_properties/the-downtowner/
The Downtowner Boutique Hotel, featuring 125 limited-service hotel rooms on ±0.82 AC, is located in an Opportunity Zone in the heart of Downtown Las Vegas. The Property is situated on the southwest corner of E. Ogden Avenue and N. 8th Street with ample frontage across both streets.
The Downtowner Boutique Hotel consists of 2 buildings and an interior even area along with a ±0.15 AC rectangular parking lot which can accommodate up to 19 parking spots. The Main Building is located at 129 N. 8th Street, followed by the Second Building which is adjacent to the Main Building and is located at 121 N. 8th Street, and lastly a ±0.15 AC parking lot to the west of the Main Building located at 110 N. 7th Street. In addition, the hotel features include Wi-Fi in all rooms, express check-in/checkout, a fitness center, and a 6-hole mini golf course in the courtyard. There were also significant capital expenditures by ownership to renovate the Fairway rooms located in the Main Building in 2018/2019 and the Wylde rooms in 2024 thereby enhancing the quality of service being offered to its guests and setting them apart from other boutique hotels in the vicinity.
An optional value-add opportunity offers buyers the option to purchase six (6) additional parcels in conjunction with The Downtowner. These parcels include three parking lot parcels, a non-operating 41-room hotel building formerly operating as part of The Downtowner, a closed 11-unit apartment building with a pool, and an undeveloped lot on the NEC of Fremont St. and N. 8th St. Please reach out to Broker for additional pricing information on this value-add opportunity.
The prime location of this well-positioned limited-service hotel, and the scarcity of similar assets makes this an attractive acquisition opportunity for qualified personnel who would like to play an active part in the revitalization of Downtown Las Vegas that would resonate with Tony Hsieh’s vision for Downtown Las Vegas.
LINK TO OM: https://logiccre.com/1031_properties/the-downtowner/
The Downtowner Boutique Hotel, featuring 125 limited-service hotel rooms on ±0.82 AC, is located in an Opportunity Zone in the heart of Downtown Las Vegas. The Property is situated on the southwest corner of E. Ogden Avenue and N. 8th Street with ample frontage across both streets.
The Downtowner Boutique Hotel consists of 2 buildings and an interior even area along with a ±0.15 AC rectangular parking lot which can accommodate up to 19 parking spots. The Main Building is located at 129 N. 8th Street, followed by the Second Building which is adjacent to the Main Building and is located at 121 N. 8th Street, and lastly a ±0.15 AC parking lot to the west of the Main Building located at 110 N. 7th Street. In addition, the hotel features include Wi-Fi in all rooms, express check-in/checkout, a fitness center, and a 6-hole mini golf course in the courtyard. There were also significant capital expenditures by ownership to renovate the Fairway rooms located in the Main Building in 2018/2019 and the Wylde rooms in 2024 thereby enhancing the quality of service being offered to its guests and setting them apart from other boutique hotels in the vicinity.
An optional value-add opportunity offers buyers the option to purchase six (6) additional parcels in conjunction with The Downtowner. These parcels include three parking lot parcels, a non-operating 41-room hotel building formerly operating as part of The Downtowner, a closed 11-unit apartment building with a pool, and an undeveloped lot on the NEC of Fremont St. and N. 8th St. Please reach out to Broker for additional pricing information on this value-add opportunity.
The prime location of this well-positioned limited-service hotel, and the scarcity of similar assets makes this an attractive acquisition opportunity for qualified personnel who would like to play an active part in the revitalization of Downtown Las Vegas that would resonate with Tony Hsieh’s vision for Downtown Las Vegas.
LINK TO OM: https://logiccre.com/1031_properties/the-downtowner/
PROPERTY FACTS
| Price | $11,500,000 | Building Size | 50,731 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 8.60% | Year Built/Renovated | 1965/2024 |
| Property Type | Hospitality | Opportunity Zone |
Yes
|
| Lot Size | 0.82 AC |
| Price | $11,500,000 |
| Sale Type | Investment |
| Cap Rate | 8.60% |
| Property Type | Hospitality |
| Lot Size | 0.82 AC |
| Building Size | 50,731 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2024 |
| Opportunity Zone |
Yes |
Walk Score®
Walker's Paradise (93)
ZONING
| Zoning Code | T5-MS (T5 Main Street) |
| T5-MS (T5 Main Street) |
MAP
ADDITIONAL PHOTOS
The Downtowner
The Downtowner
The Downtowner
The Downtowner
The Downtowner
The Downtowner
The Downtowner
The Downtowner