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Las Vegas Strip Parcel Goes to Auction
An auction for 1.36 acres of land on the south side of Las Vegas’ famed tourist corridor recently opened on Thursday. The land on The Strip houses the now-closed Diamond Inn Motel.
The starting bid for the land is $12.5 million on the land, which is across the street from Mandalay Bay and near a proposed expansion site of the Boring Company’s Vegas loop. A 10-acre parcel on The Strip recently sold for $125 million.
The Las Vegas Review-Journal reports the auction listing describes the land as a redevelopment project since the property has 237 feet of frontage on Las Vegas Boulevard and is zoned for hotel and casino use. The listing indicates the property could be suited for high-rise luxury condos or an entertainment venue since it can have building heights ranging from 406 to 505 feet tall.
The auction closes on March 14. J.P. King Auction Company is running the auction.
- ◦Sale/Acquisition
