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Property Detail

1550 E Flamingo Rd, Las Vegas, NV 89119, USA
Extended stay model proximate to the Las Vegas Strip and Vegas’ top demand generators

$Unpriced

Description

INVESTMENT HIGHLIGHTS

  • Pandemic resilient asset – +38% NOI Flowthrough in YE 2020; +45% NOI flowthrough in 2019
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  • Upside potential for continued growth strategy and utilizing the existing progress to significantly increase potential ROI – 87.6% RevPAR penetration
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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/1891/extended-stay-america-suites-las-vegas-east-flamingo?utm_source=costar&utm_medium=listing&utm_campaign=hospitality_1891
HREC, in conjunction with RI Marketplace, is pleased to offer Extended Stay America Suites Las Vegas - East Flamingo. The offering represents a unique opportunity to acquire the Fee-Simple Interest in a near turn-key asset with phenomenal resiliency through the pandemic and continued high NOI flowthrough. 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
  • Meeting Event Space

ROOM MIX INFORMATION

DESCRIPTIONNO. ROOMSDAILY RATESF
Suite125$106.00

 

PROPERTY TAXES

 

 

Specification

General

  • 81453
  • 2.4600
  • Investment
  • C2
  • 1998
  • 125

Hospitality

Extended Stay America Suites Las Vegas - East

# 243

SKU: 243

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