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3015 E Fremont St Las Vegas, NV 89104

Specialty properties Google Maps
6,180 SF 2.02 ac lot Built 1962
Entity Owned 9-yr Hold ~ Est. High Equity
Estimated value (blended)
$275k
Range $248k – $303k (±10%)
Property ID US62-0108236

Property summary

AI-generated overview

This exceptional 8,479 square foot, single-tenant property at 3015 E Fremont St, Las Vegas, NV 89104, presents a lucrative investment opportunity. Currently operating as a thriving bar, restaurant, and live entertainment venue, it boasts a fully remodeled interior, including a state-of-the-art kitchen, sleek bar, and impressive entertainment features such as LED dance floors and atmospheric lighting. The property sits on a 2.02-acre lot with ample parking for 180 vehicles. Zoned EM/H-1, it offers diverse possibilities for continued operation as a multi-faceted entertainment destination or repurposing to suit a buyer's vision. The property is 100% occupied, with the current lease expiring October 1, 2024. Key features include renovated restrooms, a liquor license (transferable to the new owner), and a prime location just 2.5 miles from the Fremont Street Experience and 7.8 miles from McCarran International Airport. This stabilized Class B property is offered at $3,400,000 and is suitable for a 1031 exchange. The property's size, amenities, and location make it an ideal investment for owner-users or investors seeking a high-return asset in the vibrant Las Vegas entertainment district. The property includes a private upstairs party area with its own restroom overlooking the main club. The building is approximately 6,000 square feet.

Property profile

Verified
Property type Specialty properties
Use group PROFESSIONAL CLUBS/ASSOCIATIONS
Year built 1962
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 6,180 SF
Lot 2.02 ac (87,991 SF)
APN 162-01-601-037
UPID US62-0108236

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Nightclub Music Venue

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2017
7 recorded transactions
2017
$700,000
2014
$965
2014
$1,386
2013
$530,000
2012
Price N/A
2012
$475,000
2011
$310,960

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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