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Las Vegas Strip Property
1100 S. Main St., Las Vegas, NV 89102
Last Verified 10/8/2009
Listing ID 14530212
1 Lot Available
Lot 1
$600,000,000
56 AC
Commercial/ Other (land)
10 AC
73 AC
.5%
- 17 acres of City-owned streets and alleyways previously vacated for +/ -73 gross acres with blended price of $188 per sqft.
Highlights
Rare Las Vegas Strip site- Next to Stratosphere Hotel Casino
- 25 to 56+ acres (can be up to 73 acres) / Possible financing
- Premium I-15 visibility
- Gaming approval
- Major cross streets & Freeway offramp
Description
We are presenting a unique project site on the Las Vegas Strip next to the MGM/Dubai/Kerzner future hotel & casino and the Stratosphere Hotel & Casino recently acquired by Goldman Sachs! Project Neon Lights is one of the most unique real estate assemblages in history containing approximately 56 net acres in the heart of the City of Las Vegas and is being offered 50% below January 2007 appraised value. The site had achieved zoning for a mixed use development including gaming, retail, condo, hotel and a 22,000 seat events arena. This property has +/-17 acres of City-owned streets and alleyways which previously had been vacated at no additional expense to the buyer and presented a +/-73 gross acre development site with a blended price of $8.3M per acre. These past entitlements still exist today and have the potential to be negotiated with the sale of this project. Additionally, our site is located in a City redevelopment area and had obtained an approximate $600 Million Tax Increment Financing (TIF) package based on the tax revenue of the future development which was previously approved by the City.
Bordered within the area of Main, Charleston, Wyoming and the Railroad tracks located between the Stratosphere Hotel and the City's Union Park Project. Within the downtown redevelopment area offering numerous incentives such as tax savings, reduced setbacks, relaxed height limitations, zoning and permitting assistance as well as others. Major cross streets surround the site as well as premium I-15 visibility and Charleston off ramp.
Map of 1100 S. Main St., Las Vegas, NV 89102 (Clark County)
Created 3/7/2006
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.