±4.05-Acre Commercial Development Opportunity
±4.05-Acre Commercial Development Opportunity
Marketing description
***CONTACT BROKER FOR PRICING***
This ±4.05-acre development site is strategically located at the signalized corner of Hwy 50 (aka Great Basin Blvd) and Hwy 93 (aka E. Aultman St). The Property features 355’ of frontage along Hwy 93, offers outstanding visibility, and multiple access points.
The property benefits from strong vehicle exposure, capturing both east-west traffic along Highway 93 (±10,000 cars per day) and Highway 50 (±11,000 cars per day).
Zoned Commercial (C-2), the site allows for a wide range of uses including Convenient Store, hotel, retail, QSR, and mixed-use commercial development. With the limited QSR and restaurant competition, the site presents an opportunity for an operator / developer to achieve robust food service sales. Furthermore, the Seller worked with the City of Ely to approve an ordinance that allows for up to forty (40) gaming machines.
Investment highlights
MAIN & MAIN LOCATION WITH OUTSTANDING VISIBILITY
The Property is centrally located at the intersection of U.S. 93 and U.S. 50. Located 3.5 hours north of Las Vegas and 2.0 hours south of Wells, Ely is the largest city in the region and is a true ‘travel stop’ locations.
REAL ESTATE UNLOCKED
The Owner acquired 10 parcels from four sellers, abandoned and acquired public right-of-way, rezoned the Property, entered easements with neighboring property owners, and changed the City’s land use code to allow for up to 40 slot machines.
GROWTH - U.S. 93 (aka Great Basin Highway)
Connects Phoenix, Vegas, and Boise. Truck and passenger vehicle traffic through Ely has steadily increased over the last decade as a result of these high growth metro markets.
LIMITED COMPETITION
Love’s (one mile south of Property; built in 2017) and Golden Gate Petroleum (0.5 miles east of Property) are the only ‘Class A’ c-stores between Ash Springs (140 miles south) and Wells (135 miles north).
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