600 S Carson St - Hospitality FOR SALE


Carson City, NV 89701
$16,750,000 USD
775-600-0369
600 S Carson St, Carson City, NV for Sale
$16,750,000 USD
Hospitality - FOR SALE
1/28
null | Request Cap Rate

600 S Carson St
Carson City, NV 89701


HIGHLIGHTS

  • Call Bob Directly at (775) 720-8501
  • Multi-parcel offering that includes 003-092-03, 003-092-04, 003-092-05, and 003-093-05 for a total of 3.18 acres and roughly 200,000 square feet.
  • Highly irreplaceable structure with significant upside, giving developers the opportunity to reposition it into a future income-producing platform.
  • Rare combination of scalability and unlimited gaming licensing positions the property as an entitlement-rich redevelopment opportunity.
  • Ideal for sophisticated capital partners looking for returns through redevelopment, adaptive reuse, or mixed-use repositioning.
  • Adjacent seven-story parking garage connected to the property provides approximately 400 parking spaces for employees and visitors.

OVERVIEW

Call Bob Directly at (775) 720-8501. Discover the Ormsby House, a historic landmark located at 600 South Carson Street, representing a rare, large-scale redevelopment opportunity in the heart of Carson City. This former casino-hotel is an institutional-scale, mixed-use property offering approximately 184,184 square feet of commercial space within the main building, which includes eight stories of hotel rooms, offices, and mixed-use areas. The property also features a lower basement level with 7,662 square feet of commercial space and 1,395 square feet of office space, along with a seven-story parking garage adjacent to the building, totaling approximately 146,040 square feet. Additionally, the site covers 3.66 acres and includes two vacant parcels to the south, totaling 0.79 acres. Positioned as a legacy asset with significant potential, The Ormsby House benefits from Downtown Mixed Use (DTMU) zoning, allowing for a variety of uses, such as hotel and casino operations, multifamily residential, offices, retail, and other commercial activities, offering exceptional flexibility. Importantly, the property qualifies for an unlimited gaming license, an increasingly rare and highly valuable zoning qualification. The Ormsby House is strategically situated next to Nevada’s Capitol Complex, which houses the Governor’s Office, Legislative Building, Nevada Supreme Court, Attorney General’s Office, and Secretary of State’s Office. The property is located in the heart of Downtown Carson City, surrounded by restaurants, retail stores, and office spaces. Carson City is considered a business-friendly city and has shown strong interest in revitalizing this historic landmark with high-quality tenants and operators. The main building has already received significant capital improvements, including new mechanical, electrical, and plumbing systems, as well as a newer roof. Phase I and Phase II environmental assessments have been completed with clean results, removing a major risk and allowing for faster project execution. Carson City benefits from durable economic fundamentals and a favorable tax policy, including no state income tax. The city is located approximately 20 minutes from both Reno and Lake Tahoe, offering access to regional employment centers, tourism, and year-round outdoor recreation. Residents and visitors alike enjoy a high-quality of life, further enhancing the long-term appeal of redevelopment concepts. This opportunity remains one of the last large-scale casino-hotel redevelopment prospects in Northern Nevada.

FOR SALE DETAILS

PRICE

$16,750,000 USD

PRICE/SF

$85 USD /SF

# OF ROOMS

110

PRICE/ROOM

$152,273 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ormsby House

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

11

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1972

PARKING SPACES

422

LAND DETAILS

LAND ACRES

3.18 AC

LAND SF

138,521 SF

ZONING

DT-MU

APN/PARCEL ID

003-092-03

ASK ABOUT THIS PROPERTY

Bob FredlundColdwell Banker Select Real EstateMore Info
775-600-0369

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Bob FredlundColdwell Banker Select Real EstateMore Info
775-600-0369

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.