129 N 8th St, Las Vegas, NV
Hotel with annex parcels in downtown Las Vegas Opportunity Zone.
- Added:
- Jul 18, 2023
- Days on Market:
- 1060
- Last Refresh:
- May 19 at 9:52 pm
Property Features for 129 N 8th St
General Information
- Standard status
- Active
- Size
- 59,392 SF
- Lot size
- 0.67 Acres
- Property subtype
- HOSPITALITY
Listing agent Cathy Jones (702) 595-8765
Listing office Logic Commercial Real Estate | Las Vegas (702) 595-8765
Listing date Jul 18, 2023
Source Moodyscre
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All listing content including descriptions, pricing, images are the copyrighted material of Logic Commercial Real Estate | Las Vegas
HighLights
- Located in an Opportunity Zone in downtown Las Vegas
- Features 125 operating hotel rooms with limited service
- Includes additional annex parcels with redevelopment potential: a closed 41‑room building, a closed 11‑unit apartment building, and an undeveloped corner lot
- Significant capital expenditures were made to upgrade rooms in 2018/2019 and 2024
- Amenities include Wi‑Fi in all rooms, express check‑in/check‑out, a fitness center, and a 6‑hole mini golf course
- Includes a ±0.15 AC parking lot with 19 spaces
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.21M | $20.40 |
| − Vacancy | −$63.0k | −$1.06 |
| EGI | $1.15M | $19.34 |
| − OpEx | −$516.9k | −$8.70 |
| NOI | $631.7k | $10.64 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.137
- Latitude
- 36.1686