A Great Investment Property In Las Vegas For 2020.
About "Tax Benefit Opportunity Zones".
NOTE: By investing in a qualified opportunity, fund investors have the ability to temporarily defer their original capital gains until 2026 or when their opportunity fund investment sells. Investors can also reduce their capital gains expense through a 10% step-up basis. If their investment is held for 5 years, an additional 5% step up basis if held for 7 years. If an Opportunity Fund investment is held for at least 10 years investors can permanently exclude 100% of the gain generated from investment in the fund from taxes.
The Local Environment.
The Las Vegas RAIDERS Stadium (which will bring over 50,000 visitors to the area per event) is positioned on Russell and I-15, which is within walking distance on game day to the Town Square area (500 feet from where this property is located). There is an approved 90 acre theme park going across the street from the property. The new T-MOBILE Arena, where the NHL Las Vegas Golden Knights play, brings over 30,000 tourist and locals to the area during events that pass by the property en-route to TOWN SQUARE and or the arena which is located on the strip. Town Square is Las Vegas 1 million square foot retail and restaurant destination which host over 10,000 visitors daily but does not however have any gaming or adult cabaret use. The “Town Square” entrance is within 500 feet walking distance to the property. Moonlight Investments Group bought 2 buildings in Town Square for $22 Million, which are literally the 2 buildings you can see from property as they have 130,000 sq ft of office space gray shell for leasing to Amazon.com, for their training center in 2020. The WNBA Las Vegas Aces also play Mandalay Bay Convention Center which is within 1.5 miles of the property.
All of this and much more make this property location ideal for servicing that traffic and after hour wanderers. Nearby, Shelby Automotive which services collectible, classic and exotic cars is situated across the street along with Miller Beer Company. These companies employ many thousands of people and are landmarks in our valley. Signature Executive Airport, Harley Davidson Motors and the world famous “WELCOME TO LAS VEGAS” sign is all within ½ mile from this property with the sign attracting over 2 Million people per year to the area. THIS PROPERTY Location has secured “active entitlement rights” for the use of the property for Liquor +Adult Cabaret but can be used for any use other than existing licenses. With recreational marijuana being passed property is in the medical marijuana corridor and can be used for distribution, cultivation, Pot Bar with liquor food gaming and dispensary with the proper licenses.
Appraised value on 6-7-2019 is $3.5 Million for 6370 Windy Road.
Asking price is $2.5 Million.
NOTE: The owners are not interested in entertaining any leases or holding any notes on the property, so overall it is zoned and set up for any business use Buyer sees fit which is great for not being a specific use site like most commercial properties. The property free and clear no liens and property tax is approximately $7500.00 a year
Property corridor just had a 1.25 acre sale November 2019 to be used for a high end Mexican restaurant No Gaming component
NEWS! - Review Journal article posted that the city is looking to close down Hustler club and Crazy Horse 3 Which makes this location ONLY club use around Raiders stadium. https://www.reviewjournal.com/business/stadium/strip-clubs-could-face-cloudy-future-around-raiders-stadium-1948128/
NEWS! - https://www.reviewjournal.com/business/town-square-improvement-plans-include-hotel/
Below is a virtual tour link of property with me as the narrator: