A prime 1.36-acre parcel of land located on the south side of Las Vegas’ renowned tourist corridor has recently become available for auction. The property, which previously housed the Diamond Inn Motel, is situated on The Strip and boasts a starting bid of $12.5 million.
This highly coveted plot is conveniently located across from Mandalay Bay and in close proximity to a proposed expansion site for the Boring Company’s Vegas loop. In fact, a neighboring 10-acre parcel recently sold for an impressive $125 million.
According to reports from the Las Vegas Review-Journal, this auction presents an exciting opportunity for redevelopment as the property offers 237 feet of frontage along Las Vegas Boulevard and is zoned specifically for hotel and casino use. With potential building heights ranging from 406 to 505 feet tall, this versatile piece of land could potentially accommodate high-end luxury condos or even an entertainment venue.
Interested parties have until March 14th to place their bids through J.P King Auction Company who will be managing this exclusive event.
