PREMIER AUCTIONS : News
 

Las Vegas Strip Development Being Offered at Auction

A 1.36 acre property with 236 feet of frontage on Las Vegas Boulevard is available for sale through J. P. King Auction Company, the nation’s leading real estate auction marketing firm. The property, which is located just north of the famous “Welcome to Fabulous Las Vegas” sign, is offered through a sealed-bid auction.

 

A prime location on Las Vegas Boulevard, the development site is the first hotel/casino seen from I-15, and it will be viewed by more than 45 million people per year from McCarran International Airport. Zoned H-1, the site has easy access from existing streets bordering all sides of the property.

 

The property, which sits at 4605 Las Vegas Boulevard South, occupies more road frontage than the nearby Paris, MGM Grand and Venetian and is located across from Mandalay Bay. It has been approved by the FFA for buildable heights of 406 feet to 505 feet.

 

“One of the great things about this site is that not only is it an excellent development site, but it is also already producing income,” said Sam Aldabbagh, the property’s owner.

 

The Diamond Inn Motel, which was constructed in 1940 and contains 48 rooms, currently sits on the property. The site — which Aldabbagh purchased in 1978 — is probably best known for the large pink elephant facing the strip.

 

“This development property is in an excellent location and presents an opportunity to establish a resort along one of the most visited destinations in the world,” said Craig King, president and CEO of J. P. King Auction Company.

 

Sealed bids for the property must be submitted by 5 p.m. on Monday, December 13.  For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company’s website at www.jpking.com .


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