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    1506 Las Vegas Blvd Las Vegas, NV 89104

    Sponsored
    For Sale
    $7,500,000

    Iconic Las Vegas Blvd Hotel - $7.5M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 26-room hotel, located at 1506 Las Vegas Blvd S, Las Vegas, NV 89104, presents a lucrative investment opportunity. Built in 1954 and extensively renovated in 2020, this two-story building sits on a prime Las Vegas Boulevard South location, offering significant frontage. The property is zoned C-2, allowing for versatile commercial uses. The hotel boasts an existing kitchen, ideal for a restaurant, and additional space suitable for a salon or retail shop, presenting a unique opportunity to expand revenue streams. The current owner has successfully managed the property and is willing to consider seller financing with attractive terms. The property's APN is 162-03-210-064. This is a rare chance to acquire a well-established hotel in a high-traffic area of Las Vegas, offering both immediate income and significant potential for future growth. The asking price is $7,500,000. This is an owner/user investment opportunity. The single building offers a blend of hospitality and retail potential, making it an attractive investment for both seasoned and emerging investors. The property's strong location and recent renovations make it a turnkey operation ready for immediate income generation.

    Property Features for 1506 Las Vegas Blvd

    General Information

    Property type
    Hotels

    Building Details

    Year Built/Renovated
    1954/2020
    Buildings
    1
    Stories
    2

    HighLights

    • $7,500,000 asking price.
    • 26‑room hotel in Las Vegas, NV.
    • Owner/user investment opportunity.
    • Built in 1954, renovated in 2020.
    • One, two‑story building on a C‑2 zoned lot.
    • Located at 1506 Las Vegas Blvd S, Las Vegas, NV 89104 (APN 162‑03‑210‑064).
    Property Profile Location Intelligence

    Current Use by Public Records

    Gold Tattoo Tattoo Shop

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Law Firm Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.15169
    Latitude
    36.1530383

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    FAQs

    What type of property is this?
    Hotel - Iconic Las Vegas Blvd Hotel - $7.5M
    Where is this hotel located?
    The property is located at 1506 Las Vegas Blvd Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: $7,500,000 asking price.; 26-room hotel in Las Vegas, NV.; Owner/user investment opportunity.
    Request Owner's contact information
    1506 Las Vegas Blvd Las Vegas, NV 89104
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    Las Vegas, NV 89104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1506 Las Vegas Blvd Las Vegas, NV 89104
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