LAS VEGAS, NV – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for two prime hospitality properties in Las Vegas.
The properties, which are currently called Emerald Suites (top left photo), encompass nearly 10 acres and are listed at $31.5 million.
Al Barbagallo, (middle right photo) associate vice president investments, is listing this two-property hospitality portfolio on behalf of Emerald Suites, LLC.
“These properties are near one of the premier hotel casino corridors in the world and are easily accessible by the Interstate 15 freeway system,” says Barbagallo. “Priced below replacement cost, this value-added portfolio will generate significant long-term returns for any investor. This listing presents the new ownership with an excellent opportunity to flag this portfolio.”
The 387-room Emerald Suites at 9145 Las Vegas Blvd. South was built in 2001. High traffic counts along the world-famous Las Vegas Strip provide this 7.75-acre asset with maximum exposure. The property is listed at $25 million, or $64,599 per room.
(Las Vegas Strip at night, bottom left photo)
Built 2000, the 96-key Emerald Suites on Cameron at 4777 Cameron St. is a 2.3-acre property. The property includes four, three-story buildings with 96 units.
Some units have been updated and include flat-screen TVs. Hotel amenities include a laundry room and pool spa area.
Emerald Suites on Cameron is available for $6.5 million with a current ADR (average daily rate) of $45 a night.
The properties can be purchased separately or as a portfolio.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
No comments:
Post a Comment