1700 S. Las Vegas Blvd.
Mixed Use | 25,255 SqFt
Marketing description
At the southern tip to the Las Vegas Arts District neighborhood, 1700 S. Las Vegas bookends Las Vegas’s fastest-redeveloping submarket. No other submarket in the City enjoys greater demand from chef-driven food & beverage concepts, bars, entertainment venues, and curated retail. Truly Las Vegas’ most sought after real estate market with the greatest amount of pent-up demand for multifamily and tenant ready space.
The Arts District is the one Las Vegas neighborhood that genuinely fosters diversity and welcomes people from all walks. Restaurants and bars in this eclectic neighborhood have weathered the challenges of Covid better than any in Southern Nevada. As the neighborhood transitions from its predominantly locals focus to a tourist amenity contiguous to The Strip that offers tourists and conventioneers a richer, more authentic experience, it will enjoy accelerating tenant demand for deliverable space.
This site is located within the City’s redevelopment area and the federal opportunity zone allowing for both City incentives and tremendous long-term tax benefits from a build-&-hold strategy.
This property is located in a Qualified Opportunity Zone (federally deemed an economically-distressed community) where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
Investments in a QOZ via a Qualified Opportunity Fund (QOF) receive preferential tax treatment. Investments These investments can retain some of this preferential tax treatment until 2046. An investor, who within 180 days of the taxable event reinvests, can defer tax on any prior gains until the earlier of: sale of the investment or December 31, 2026, so long as the gain is invested in a QOZ/QOF. In addition, if the investor holds the investment in the QOZ/QOF for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.
Investment highlights
Fully-signalized, double-corner 1.48 acre site fronting both Las Vegas Blvd and Main St. at south end of Arts District just north of The Strip. Existing structure can be demo'd for new development (hotel, mixed-use midrise/highrise).
1700 S. Las Vegas Blvd. stands at the crossroads between The Strip/Convention Corridor and the Downtown Las Vegas Resort Corridor (aka Fremont St). Nearby Interstate 15 provides rapid access to the site from interchanges at Charleston Blvd to the north and Sahara Avenue to the south. This location places 1700 Las Vegas Blvd a short walk/ride from the Strip, Convention Center and Downtown while granting valley-wide rapid access for local residents.
Opportunity Zone
Fully-signalized intersection on Las Vegas Blvd with double hard corners
230' Las Vegas Blvd frontage
200' Main St. frontage
Includes two high-visibility hard corners
South book end of the Arts District neighborhood
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