Lender Owned: The Lexi Las Vegas

Property Highlights

• Fee simple interest in The Lexi Las Vegas, a 64-room upscale independent full-service hotel minutes from the Las Vegas Strip
• Lender-owned sale with foreclosure recently completed in October 2025
• Offered unencumbered by debt, management, and franchise, providing flexibility for new ownership to rebrand, reposition, or maintain as an independent lifestyle concept
• For sale in the December 17 RealInsight Marketplace auction event
• Strong value-add opportunity transitioning the asset out of lender control and repositioning the property within the Las Vegas market
• Recent comprehensive $3M+ renovation including guestrooms, lobby, restaurant, pool area, and building systems
• Upscale, adult-only, lifestyle-oriented positioning with restaurant and lounge, outdoor pool, fitness center, event space, and valet service
• Multiple Lease-Up Opportunities: Former spa space and a second, unused restaurant footprint offer turnkey potential for third-party leased concepts, generating incremental revenue with minimal operational burden.
• Flexible Outdoor Entertainment Zone: A unique area adjacent to the pool provides an opportunity to activate boutique outdoor programming—such as small-format concerts, pop-up events, day-club concepts, or outdoor movie nights—to enhance guest experience and drive non-room revenue.

Location Highlights

• 1501 West Sahara Avenue, just west of the Strip—immediate access to major demand generators while maintaining a distinct lifestyle identity
• Proximate to top Las Vegas attractions, including Resorts World, Wynn, Venetian, Las Vegas Convention Center, Allegiant Stadium, and the rapidly redeveloping Arts District
• Walking distance to Sahara Avenue nightlife, culinary experiences, and boutique shopping destinations
• Easily accessible to Harry Reid International Airport (LAS), which served 50M+ passengers in 2024
• Within a growing boutique/lifestyle hotel corridor, capturing transient and group demand from local, domestic, and international travelers
• Strong visibility and branding opportunities along one of Las Vegas’ primary thoroughfares

Market Highlights

• Las Vegas remains one of the strongest-performing hospitality markets in the U.S., with 2024 visitation surpassing 41 million visitors and ADRs reaching all-time highs
• Convention and group demand is rebounding following the completion of the $1B Las Vegas Convention Center expansion and multiple new tradeshows for 2024 and 2025
• Continued investment in mega-resorts and entertainment infrastructure—including MSG Sphere, Fontainebleau Las Vegas, and Formula 1 Las Vegas Grand Prix—expands visitation and room demand
• The Las Vegas Raiders and Vegas Golden Knights have helped reshape Las Vegas into a multi-sport destination, increasing length of stay and diversifying demand beyond purely gaming/leisure
• The Las Vegas Athletics’ new MLB ballpark is under construction on the former Tropicana site, a $2B development that will add a third professional sports franchise in Las Vegas
• Las Vegas enjoys no state income tax and remains among the nation’s most business-friendly markets for both leisure and institutional hospitality investors
• Net in-migration is powering durable population growth: since 2022, the Las Vegas metro has added ~34K residents per year; Nevada absorbed ~370K new residents from 2020–2023 (43% from California), with 2023 alone bringing ~42.5K Californians and ~27.4K international arrivals
• Sustained RevPAR growth, strong airlift recovery at Harry Reid International Airport (50MM+ passengers annually), and limited new supply within the boutique segment continue to drive pricing power

The Offering

The offering comprises The Lexi Las Vegas, a 64-room upscale independent hotel minutes from the Las Vegas Strip. The property offers investors a compelling value-add opportunity to acquire an extensively renovated, full-service asset unencumbered by debt, management, and brand, allowing immediate operational and strategic flexibility. The Lexi features refreshed guestrooms, a vibrant restaurant and lounge, pool area, and upgraded building systems following a comprehensive $4+ million renovation—positioning it to capitalize on Las Vegas’ record-breaking visitation and expanding entertainment infrastructure. The property will be sold in the December 17 RealInsight Marketplace auction event, presenting an exceptional opportunity to acquire a turnkey hospitality asset with significant upside in one of the nation’s most dynamic lodging markets.