511 Las Vegas BlvdLas Vegas, NV 89101

Property Details for 511 Las Vegas Blvd

Year built

1956

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

3,000 SF

Property type

Office properties

Property subtype

Office buildings

APN

139-34-310-060

APU

13934310060

Description

This exceptional 2,618 square foot commercial space, located at 511 S Las Vegas Blvd in the heart of Downtown Las Vegas, Nevada, presents a unique investment opportunity. Situated within "The Collective," a two-building, two-story complex built in 1956 and renovated in 2024, this ground-floor space offers unparalleled visibility and accessibility. Previously a coffee shop, the space boasts existing infrastructure including a grease trap, former coffee bar setup, and beer taps, making it ideal for a variety of uses such as a coffee bar, cocktail lounge, restaurant, retail storefront, or collaborative office space. The property's C2 zoning allows for diverse business ventures. The building features a total of 9,004 square feet across three suites, with two additional occupied executive suites above generating consistent foot traffic. The property's unique character is further enhanced by its proximity to the Ever After Wedding Chapel and the Civic & Business Center. This location on the prestigious Las Vegas Boulevard offers unmatched visibility and prestige, often referred to as the "Ocean Front" of the city. The address is easily accessible via E Clark Ave & S Las Vegas Blvd. While there are no elevators, the two-story building provides convenient access to the ground floor space. This is a rare chance to establish a business in an iconic Las Vegas location, benefiting from the vibrant energy of Downtown Las Vegas and the established presence of The Collective. The zip code is 89101.

• CAP approach

  CAP return

  Valuation

  6%

  $707,906

  6.5%

  $653,452

  7%

  $606,776

• Comparable approach

  Method

  Valuation

  Relative Method

  $601,050

  Geo Method

  $601,050

• Alternative Use

  Use

  Valuation

  Residential

  $810,280

  Hospitality

  $742,212

  Educational

  $617,512

  Medical

  $638,749

  Retail

  $960,574

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1639

Longitude

-115.144

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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