1700 S Las Vegas Blvd, Las Vegas, NV 89104

Located at the southern tip of the Las Vegas Arts District, this property is positioned within Las Vegas’s rapidly redeveloping submarket. The area is experiencing high demand for chef-driven food and beverage concepts, bars, entertainment venues, and curated retail. The Arts District fosters diversity and welcomes a wide range of people. Restaurants and bars in this area have demonstrated resilience. As the neighborhood evolves from a primarily local focus to a tourist destination contiguous to the Strip, it is expected to experience increased tenant demand. The site is located within the city’s redevelopment area and a federal opportunity zone, potentially allowing for city incentives and long-term tax benefits through a build-and-hold strategy. The property is located in a Qualified Opportunity Zone, where new investments may be eligible for preferential tax treatment. Investments in a QOZ via a Qualified Opportunity Fund can retain some of this preferential tax treatment until 2046. An investor can defer tax on any prior gains until the earlier of the sale of the investment or December 31, 2026, if the gain is invested in a QOZ/QOF within 180 days of the taxable event. Additionally, if the investor holds the investment in the QOZ/QOF for at least ten years, they may be eligible for a basis increase equal to the fair market value of the investment on the date of sale. The property size is 25255 square feet.