1531 Las Vegas S Blvd Las Vegas, NV 89104-1311
Property profile & analytics
1531 Las Vegas S Blvd, Las Vegas, NV 89104-1311
- Bars & Pubs
- 25,118 SF
- 1.81 lot acres
Property ID
US62-0344760
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Smoke By Night / (Bike/Boat/Book/etc) Store
- Glass Room C-19 / Hotel & Motel
- Peppermint Hippo / Nightclub / DJ & Entertainment
- Olympic Garden / Nightclub / DJ & Entertainment
Property Details for 1531 Las Vegas S Blvd
- Year built
- 1974
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.81 lot acres
- Property type
- Bars & Pubs
- APN
- 162-03-210-090
- APU
- 16203210090
Description
This exceptional investment opportunity presents a fee-simple interest in a 24,980-square-foot nightclub on the Las Vegas Strip. The property boasts a brand-new 15-year absolute NNN lease with 1.5% annual rent increases, ensuring consistent income growth and inflation hedging. The tenant recently completed over $5 million in renovations to the building, which was originally constructed in 1974 and fully renovated in 2022. The property sits on a substantial 2.63-acre lot with 254 parking spaces and enjoys exceptional visibility, benefiting from over 40 million annual visitors to the Las Vegas Strip. Its prime location offers easy access from major hotels and casinos, as well as Interstate 15, a major artery with 325,000 vehicles passing daily. The property's C-2 zoning allows for general commercial use. The current Net Operating Income (NOI) is $1,440,000, representing an 8% cap rate on the $18,000,000 asking price. The strong demographics of the 5-mile trade area, with over 506,800 residents and 457,800 employees, further enhance the investment's appeal. This is a truly unique opportunity to acquire a high-performing, low-maintenance asset in one of the world's most dynamic entertainment destinations. The property's parcel number is 162-03-210-090. The average household income within the 5-mile radius is $61,259.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $740,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,224,000
Market price range: $1.01M - $1.66M -
Alternative Use
- Use
- Estimation
- NIGHTCLUB (COCKTAIL LOUNGE)
- $1,265,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.151
- Latitude
- 36.1524
- CBSA code
- 29820
- CBSA name
- LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$48,473
$1,376,459
$835,396
$2,211,855
-
$3,932,740
$2,386,846
$6,319,586
