Carson City’s Ormsby House officially hits the market
March 25, 2017
The 110-room Ormsby House officially hit the market this week.
The listing for the historic Carson City hotel is now appearing on http://www.loopnet.com.
No price is listed for the 190,000 square foot building. The listing also includes "108,000 square feet of casino, convention, retail and a 7-story parking garage."
"The property offers 190,000-plus square feet of hotel and casino space that is in various stages of construction," the listing says. "The property features all new mechanical systems, as well as being completely plumb for the conceptual designs featured in this offer."
The property's broker told the Carson City Board of Supervisors last week he was confident a buyer would be found
"It is a dynamic, robust market right now. The amount of capital coming into this market is staggering," Ted Stoever, senior vice president, Northern Nevada Land & Development Investment Services for Colliers International said last week.
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Stoever said he expected the property to sell as a hotel/casino because the building was designed for that use, or possibly as a franchise hotel with convention space. He didn't expect it to be purchased for what he called a repurposed use such as senior housing or condominiums.
The board last September granted an 18-month extension to the hotel's building permit in an effort to get the property ready and make it more desirable for sale.
The permit extension allows a new owner to finish construction on the building based on building codes at the time permit was originally issued rather than bring it up to current codes, which would add significant costs and make the hotel harder to sell.
The board granted the extension on two conditions: the owners finish exterior construction work by Dec. 15, 2016, and update the board every six months on progress to market and sell the property.
The full listing can be seen here: http://www.loopnet.com/Listing/20243595/600-S-Carson-St-Carson-City-NV/
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