Rodeway Inn on Fremont
For Sale
Contact for pricing
2009 E Fremont St, Las Vegas, NV 89101
31-room motel in thriving Las Vegas location.
Property Size15,500 SF
Lot Size0.57 Acres
Price / SF$250
Days on Market188
Property Features for 2009 E Fremont St
General Information
Standard status
Active
Size
15,500 SF
Total Parking Spaces
26
Lot size
0.57 Acres
Property subtype
Hospitality
Occupancy
85%
Investment Type
Stabilized
Building Details
Year Built
1954
Year Renovated
2025
Buildings
1
Stories
1
Listing Agency:
Marquee Commercial Lodging Advisors
Listed By:
Marcus Threats, CCIM · License #NV B.1003251
Source:
Crexi
Added: Feb 16
Changed: Aug 13
Last Checked: Aug 21 at 9:42PM
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 Marquee Commercial Lodging Advisors
Investment Insights
Based on property information with market context.
The Rodeway Inn Las Vegas is a 31-room, single-story, exterior corridor motel situated on a 0.57-acre lot. Constructed of concrete with a flat roof, the building encompasses 15,500 square feet. The motel offers a mix of single and double rooms. Located on Fremont Street in Las Vegas, Nevada, the property benefits from its location off the interstate, providing good visibility. Its location allows for convenient access to Harry Reid Airport, the Las Vegas Strip, and Downtown Las Vegas. Demand drivers include the Golden Nugget Casino, the Mob Museum, and the Fremont Street Experience. The motel is located in a major mixed-use development area with single and multifamily homes, retail stores, and shops being built. Originally built in 1954, the property was renovated in 20025.
Key Highlights
- Prime location on Fremont Street in Las Vegas.
- Renovated in 2025, offering a relatively updated property.
- Excellent visibility and easy access off the interstate.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$119,273
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,385,460
$2.4M
Cap Rate 7%
$1,703,900
$1.7M
Cap Rate 9%
$1,325,256
$1.3M
Market Conditions
NOI Build-Up for 15,500 SF
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.
Gross rent
$279.0K $18.00/SF
− Vacancy
−$27.9K −$1.80/SF
EGI
$251.1K $16.20/SF
− OpEx
−$131.8K −$8.51/SF
NOI
$119.3K $7.69/SF
Area
Las Vegas, NV
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,385,460
Cap Rate 7%
$1,703,900
Cap Rate 9%
$1,325,256
Alternative Uses
Best Use
Hotel Hospitality
$1.70M
$1.49M – $1.99M
NOI $119,273 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.36M
$4.69M – $6.25M
NOI $374,913 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Taj Hotels and Casino Las Vegas — las vegas, nv 89104
- 49'ER Motel — 3045 E Fremont St, Las Vegas, NV 89104
- Gatewood MOTEL — 3075 E Fremont St, Las Vegas, NV 89104
- Perfect inn motel — 3045 E Fremont St, Las Vegas, NV 89104
- Wildfire Fremont — 2700 E Fremont St, Las Vegas, NV 89104
Frequently Asked Questions
What type of property is this?
Motel - 31-room motel in thriving Las Vegas location.
Where is this motel located?
The property is located at 2009 E Fremont St Las Vegas, NV.
What is the asking price?
The asking price for this property is $3,875,000.
What are key features of this property?
This property features: Prime location on Fremont Street in Las Vegas.; Renovated in 2025, offering a relatively updated property.; Excellent visibility and easy access off the interstate.
