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    Downtown Las Vegas Hotel Opportunity Title is generated by Realmo AI

    129 N 8th St, Las Vegas, NV

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    Hotel with annex parcels in downtown Las Vegas Opportunity Zone.

    Type:HOSPITALITY
    Property size:
    59,392 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $185/SF
    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

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    Listing Contact
    Cathy Jones
    Cathy Jones

    Listing agent Cathy Jones

    Listing office Logic Commercial Real Estate | Las Vegas

    Listing date Jul 18, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    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

    The Downtowner Boutique Hotel, located in an Opportunity Zone in downtown Las Vegas, features 125 limited-service hotel rooms on approximately 0.82 acres. Situated on the southwest corner of E. Ogden Avenue and N. 8th Street, the property includes the Main Building at 129 N. 8th Street, the Wylde at 121 N. 8th Street, and a 0.15-acre rectangular parking lot at 100 N 7th Street, accommodating up to 19 parking spots. Hotel amenities include Wi-Fi in all rooms, express check-in/check-out, a fitness center, and a 6-hole mini golf course in the courtyard. Significant capital expenditures were made to upgrade the Fairway rooms in the Main Building in 2018/2019 and the Wylde rooms in 2024. An additional offering includes a closed, 41-room, 2-story Annex Building on approximately 0.16 acres at 110 N. 8th St. and a parking lot on approximately 0.48 acres at 108 N. 8th St., formerly part of The Downtowner. Also included is a closed, 11-unit, 2-story apartment building with a pool on approximately 0.16 acres at 120 N. 8th St. and a parking lot on approximately 0.16 acres at 124 N. 8th St., plus an undeveloped corner lot on approximately 0.16 acres at the northeast corner of N. 8th St. and Fremont St. with an address of 800 Fremont St. The total property size is 59392 square feet. The annex parcels require significant repairs. The total rooms are 166, with 125 operating hotel rooms, 41 non-operating hotel rooms, and 11 non-operating apartments.

    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
    59,392 SF · lease $20.40/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $9.02M
    $7.90M – $10.53M (±1% cap)
    NOI $631,727 @ 7.0% cap · market cap 5.74%
    Second Best
    Hotel Hospitality
    $6.53M
    $5.71M – $7.62M (±1% cap)
    NOI $457,021 @ 7.0% cap · market cap 4.15%
    Theoretical Best
    Specialty Retail
    $20.52M
    $17.96M – $23.94M (±1% cap)
    NOI $1,436,571 @ 7.0% cap · market cap 13.06%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Downtowner Boutique Hotel Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.137
    Latitude
    36.1686

    FAQs

    What type of property is this?
    Hotel - Hotel with annex parcels in downtown Las Vegas Opportunity Zone.
    Where is this hotel located?
    The property is located at 129 N 8th St Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $11,000,000.
    What are key features of this property?
    This property features: 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
    (702) 595-8765 Call to check price and availability
    More about this property
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