Center for Gaming Research
UNLVGamingReseach on Facebook UNLVGaming on Twitter
Paradise Misplaced
Appraiser's Report, Part 2
Neighborhood Description

The boundary of the subject neighborhood may be defined as those that are shown on the preceding neighborhood map.

Within this strip, there are the following hotel/casino facilities. The Tropicana Hotel, Howard Johnson's Hotel, Marina Hotel and Casino, Aladdin Hotel, Flamingo Hotel, Dunes Hotel, Caesar's Palace Hotel, MGM Studios Grand Hotel, Holiday Inn, Sands, Castaways, Frontier Hotel, Desert Inn Hotel   Slipper Casino, Circus-Circus Hotel and Casino, Thunderbird Hotel and Casino, Sahara Hotel and Casino, Riviera Hotel and Casino, Hilton Hotel and Casino, Silver City Casino, and the Landmark Hotel. In addition to these there are numerous hotels planned throughout the “Strip" area as well as numerous additions planned to existing facilities. Both the Aladdin Hotel and the Riviera Hotel currently have expansion programs in progress. The above identified segment is considered to be the gaming center of the Las Vegas Valley.

The neighborhood is 'traversed by U. S. Highway 95, commonly known as the Las Vegas “Strip” or Las Vegas Boulevard South and Paradise Road. It has direct access to the Interstate Freeway located approximately 1/2 mile west, via the Tropicana Avenue Interchange, the Flamingo Interchange, the Spring Mountain Road Interchange and the Sahara Avenue Interchange. From the east the neighborhood is accessible from these same streets. In addition, McCarran` International Airport lies just south of Tropicana Avenue.  With its main access routes into the city via Paradise Road and Las Vegas Boulevard South. The airport terminal lies approximately 2 1/2 miles southeast of the subject via roadways or approximately l 1/4 mile southeast of the subject in a straight line. 

neighborhood map

With the exception of a few privately held parcels, almost all the vacant land has been purchased in the past by the Hughes Tool Company. Since, historically, Hughes ownership has been retained in its original state in the Las Vegas area, with the exception of two smaller parcels on the “Strip” and outlying parcels, the future development of this prime, tourist oriented land is uncertain. As a result, an acute shortage of vacant, developable land has been created along the Las Vegas “Strip”. This condition has resulted in substantially increasing land values, not only for vacant land but also for land which is presently improved with interim type improvements.  This is illustrated by analysis of the sales shown in this report. The sales show rapidly increasing neighborhood values as well as absorption of parcels currently improved with older, obsolete improvements. Improvements are removed for either new construction or plottage to adjacent parcels.

It is anticipated that the increasing demand for vacant land will result in rapidly increasing land values, not only for vacant land but also for improved “Strip” frontage.

The subject neighborhood is located approximately 1 mile south of the Las Vegas “Downtown” area which is another gaming center of the Las Vegas Valley. However, the amount of development in the“Downtown” area is substantially less than that on the “Strip."

The entire area surrounding the neighborhood is developing with a combination of high-density residential improvements, single family residential improvements, and commercial improvements to the east; high-density residential improvements and warehousing improvements to the west. In addition, there are single family residential improvements to the west. Approximately 40% of the surrounding area is still in an undeveloped stage. Development has been heavy on undeveloped parcels over the past 4 years, adding a substantial stress to existing major thoroughfares by heavy increased traffic volume.

Intersection: Las Vegas Strip and Tropicana

looking north
looking north down the Strip

looking west
looking west down Tropicana Ave

looking southward
looking south down the Strip

looking east
looking east down Tropicana Ave

Back to Las Vegas 1975

main | history | outside | inside | Vegas 1975 | estimates | theme | Martin Stern | poem | about

Follow UNLVgaming on Follow unlvgaming on Twitter Twitter and UNLVGamingResearch on Facebook

© 2016 University of Nevada, Las Vegas. Do not copy or reuse without permission.

Last modified Wednesday, 02-Dec-2009 11:34:44 PST