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Property Detail

3045 S Maryland Pkwy, Las Vegas, NV 89109, USA
Extended stay model proximate to the Las Vegas Strip and Vegas’ top demand generators.

$Unpriced

Description

INVESTMENT HIGHLIGHTS

  • Pandemic resilient asset – +22% NOI Flowthrough in YE 2020; +32% NOI flow through in 2019
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  • Upside potential for continued growth strategy and utilizing the existing progress to significantly increase potential ROI – sub 100% RevPAR penetrati
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  • Offered fully unencumbered of flag, management and debt - flexibility in terms of rebranding the asset to a new flag/brand
  • Strong rebound post-Covid – current TTM Total Revenue and NOI have surpassed historical highs
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  • Extended stay model proximate to the Las Vegas Strip and Vegas’ top demand generators
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  • $13 billion in construction planned for the city through new and redevelopments

EXECUTIVE SUMMARY

RI Marketplace Online Auction May 6-8, 2024
Register to Bid on Marketplace:
https://rimarketplace.com/auction/1885/extended-stay-america-las-vegas-midtown?utm_source=costar&utm_medium=listing&utm_campaign=hospitality_1885
HREC, in conjunction with RI Marketplace, is pleased to offer Extended Stay America Las Vegas - Midtown. Due to an increased demand in this location for similarly sized and zoned raw land for redevelopment, a potential to rebrand, renovate or redevelop the site exists and offers the potential user a multitude of possibilities. Las Vegas has seen significant developments over the previous few years, welcoming three new sports teams, the massive redevelopment of the Las Vegas Convention Center, and billions spent on upgrading and redeveloping resorts. Las Vegas has seen a tremendous rebound from the pandemic and continues to be one of the top leisure destinations in the United States.
Property Tours are available by appointment only on 4/30, 5/1, 5/2. Please reach out to Josh Smith, jsmith@hrec.com, to schedule a tour.
Shane P. Jacob - Auctioneer
NV License: NV20141327564
P63-000561; Clark County: 2000817-056-221
Josh Smith - Investment Sales Broker
HREC Investment Advisors
NV License: B.1002198.LLC; BUSB.7056.BKR
(702) 581-6909
jsmith@hrec.com
 

AMENITIES

  • Fitness Center
  • Pool
  • Shuttle Service

ROOM MIX INFORMATION

DESCRIPTIONNO. ROOMSDAILY RATESF
Suite124$214.00

PROPERTY TAXES

 

Specification

General

  • 57297
  • 2.3500
  • Investment
  • C2
  • 1997
  • 124

Hospitality

Extended Stay America Las Vegas - Midtown

# 244

SKU: 244

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