Las Vegas Hostel | 1322 Fremont St
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Las Vegas Hostel 1322 Fremont St
39 Room Hostel Las Vegas, NV 89101 $3,035,000 ($77,821/Room)
Investment Highlights
- Strategic Location: The Property is located on Fremont St. within walking distance from the entrance to the world-famous Fremont Street Experience.
- Ample Amenities: The Property offers abundant amenities for guests such as a restaurant, swimming pool, lounge area, equipment-ready kitchen, & more.
- Income Tax Free State: Nevada has no state income tax.
- Unique Hospitality & Restaurant Mixed Use Opportunity: Currently vacant, the Property creates an opportunity to reopen the hospitality and restaurant.
- Opportunity Zone: The Property is located within an Opportunity Zone which offers tax advantages.
Executive Summary
The Investment Services Group of LOGIC Commercial Real Estate has been exclusively retained to offer a current non-operating ±21,086 SF, 3-Story Hospitality Building which includes 39 hotel rooms, an attached restaurant, and large game room/entertainment area. The 39 hotel rooms include a mix of 2 to 4 bunk beds, double queens, and single kings. The Property boasts a range of amenities, including a swimming pool, lounge area, equipment-ready kitchen, theater room, coin operated laundry, and a secure parking lot. Positioned on ±0.46 acres at the corner of Fremont Street (±9,650 CPD) and S. 14th St., the Property is strategically located within walking distance from the heart of Downtown Las Vegas dining and entertainment. The Property is also located within an Opportunity Zone which offers potential tax benefits for investors.
With its current vacancy, this offering presents a unique opportunity for an investor to revitalize and reposition the Property to meet contemporary market demands in one of Las Vegas’ most dynamic submarkets.
Link to OM: https://logiccre.com/1031_properties/1322-fremont-st/
With its current vacancy, this offering presents a unique opportunity for an investor to revitalize and reposition the Property to meet contemporary market demands in one of Las Vegas’ most dynamic submarkets.
Link to OM: https://logiccre.com/1031_properties/1322-fremont-st/
Property Facts
| Price | $3,035,000 | Building Size | 21,086 SF |
| Price Per Room | $77,821 | No. Rooms | 39 |
| Sale Type | Investment or Owner User | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 1973 |
| Property Subtype | Hostel | Parking Ratio | 1.27/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 0.46 AC | Opportunity Zone |
Yes
|
| Price | $3,035,000 |
| Price Per Room | $77,821 |
| Sale Type | Investment or Owner User |
| Property Type | Hospitality |
| Property Subtype | Hostel |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 21,086 SF |
| No. Rooms | 39 |
| No. Stories | 3 |
| Year Built | 1973 |
| Parking Ratio | 1.27/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 39 | $56.00 | - |
Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 139-35-310-050 | Improvements Assessment | $296,751 |
| Land Assessment | $101,693 | Total Assessment | $398,444 |
PROPERTY TAXES
Parcel Number
139-35-310-050
Land Assessment
$101,693
Improvements Assessment
$296,751
Total Assessment
$398,444
zoning
| Zoning Code | C2 |
| C2 |
-
Cathy Jones -
Blaze Katz -
Paul Miachika -
Karim Chatoor -
Logic Commercial Real Estate
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Las Vegas Hostel | 1322 Fremont St
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