Auction Determines the Fate of Vegas' Historic "Pink Elephant"

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Mar 07, 2024, 11:00 ET

LAS VEGAS, March 7, 2024 /PRNewswire/ -- J. P. King Auction Company, a premier real estate auction marketing firm known for selling high-value properties across the globe, has announced an upcoming auction that could chart a new course for one of Las Vegas' most iconic properties. The Diamond Inn Motel, home to the famed pink elephant and a beacon of nostalgia on the Las Vegas Strip, is set to be reimagined, with bidding concluding on March 14th at 12pm PST.

Las Vegas Strip Prime Redevelopment Opportunity

This exceptional property, located at 4605 S. Las Vegas Boulevard, offers a rare chance to own a piece of the vibrant Las Vegas Strip. Spanning 1.36 +/- acres and boasting a generous road frontage of 237 +/- feet, the Diamond Inn Motel stands as a testament to the city's glittering history and its boundless future. Just steps from the legendary "Welcome to Fabulous Las Vegas" sign, the site is visible to over 45 million visitors each year, traveling from McCarran International Airport and I-15.

"The Diamond Inn Motel has been a hallmark of the Las Vegas Strip since the 1940s, celebrated for its distinctive pink elephant landmark. Today, it represents an unparalleled redevelopment opportunity. It's a real opportunity for visionaries ready to shape the next era of this world-renowned destination," said Trey Perman, President and CEO of J. P. King Auction Company.

Zoned H-1 for hotel/casino use and with approved buildable heights of 406 to 505 feet, the property outshines nearby landmarks in road frontage and potential. Its prime location, across from Mandalay Bay, and just down Las Vegas Boulevard from Luxor, and Excalibur, places it at the heart of the Strip's ceaseless energy and within walking distance to all major attractions, including the new home of the Las Vegas Raiders at Allegiant Stadium, just a ½ mile away.

"The location of this property offers a unique chance to create a standout resort that could become a cornerstone of one of the most frequented and celebrated spots worldwide," remarked Steve Ellis, Executive Vice President of J. P. King Auction Company.

The auction represents a rare chance to contribute to the legacy of Las Vegas, marrying the site's historic charm with visionary development to redefine the skyline.

Interested parties are encouraged to seize this rare opportunity to own a landmark property with immense potential for transformation into a world-class resort or groundbreaking entertainment venue. For more information and to participate in the bidding process, visit www.jpking.com or call 800.558.5464.

About J. P. King Auction Company

J. P. King Auction Company specializes in the sale of high-value properties and portfolios, including luxury homes, developments, condominiums, and land and ranches. With a history of marketing properties in all 50 states and six countries, J. P. King has executed sales in diverse locations and has solidified its position as a leader in real estate auction marketing.

Contact:
J. P. King Auction Company
800.558.5464
[email protected]
www.jpking.com

SOURCE J.P. King Auction Company