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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Motels
217 Las Vegas N Blvd Las Vegas, NV 89101-2921
Entity Owned
13-yr Hold
Free & Clear
Property ID
US62-0516366
Property summary
AI-generated overview
This exceptional investment opportunity presents the chance to acquire the Gold Spike and Oasis properties, a combined boutique hotel and entertainment complex in the heart of Downtown Las Vegas. Currently featuring approximately 130 rooms and a 24/7 bar and nightlife venue, this property boasts a highly coveted, unrestricted Nevada gaming license, offering a significant value-add potential for a new operator to reintroduce casino operations and reposition the assets. The location is unparalleled, situated directly on Las Vegas Boulevard, just one block from the Fremont Street Experience, which draws 26 million visitors annually. This prime location is within a rapidly developing, high-growth submarket, surrounded by new construction projects. The Gold Spike, a landmark since 1976, and the adjacent Oasis hotel present a unique opportunity to build upon a legacy of revitalizing Downtown Las Vegas. This is a rare chance to acquire a boutique hotel and casino in a thriving area with significant upside potential. The property's history and location make it an irreplaceable asset in the Las Vegas market. Further details are available upon request.
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,992 SF
Lot
0.51 ac (22,216 SF)
APN
139-34-515-002
UPID
US62-0516366
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Oasis at Gold Spike Hotel & Motel
-
Fiddlestix Restaurant
-
PIEL Esthetics Spa & Massage Center
-
'Real World 31' Suite Cultural Landmark
-
Glaggleland Las Vegas Theme Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$830k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.25M
Owner & transaction history
217 Lvb LLC · 13 yrs held
217 Lvb LLC
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Vegas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$83 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,855
Tax year 2023
Assessed value
$1,005,271
Assessed 2024
Previous assessed
$924,778
+8.7% YoY
Effective rate
1.78%
On assessed value
Assessed land
$567,619
Assessed improvement
$437,652
Land market value
$1,621,769
Improvement market value
$1,250,434
Total market value
$2,872,203
Applied tax rate
203.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Units
58
Total area
14,992 SF
Lot
0.51 ac (22,216 SF)
APN
139-34-515-002
UPID
US62-0516366
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Units
58
Lot
0.51 ac
Current owner
From public records · entity-resolved
217 Lvb LLC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 7516, LAS VEGAS, NV 89125-7309
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2013
$4,890,669
217 Lvb LLC
Plug It Inn II LLC
Grant Deed
—
Jun 30, 2011
—
Plug It Inn II LLC
Gold Spike Holdings LLC
Grant Deed
related
$4,700,200 · First Citizens Bank & Trust Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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