There are only three ways to make money from Las Vegas strip real estate:
The value of the property will go up
You can rent it and collect rental income
You can profit from a business that depends on the real estate
Increase in the property value:
Property values historically rose, except in the last few years where at best they have stayed static and at worst, dropped. Most properties have not even kept pace with inflation and even if they did, you are no richer than a year ago. If you had a property worth $500,000 and the rate of inflation was 3% then your property would theoretically be worth $515,000. However, since the rate of inflation applies to everything, if you sold the property and made $15,000, it would be eaten up by inflated prices of other commodities like gas, bread, milk, etc.
The thing about Las Vegas strip real estate though, it has always come back and there is no reason to believe any different this time.
With the property market being in the dumps, many people are taking the opportunity to add property to their investment portfolio along with their traditional paper investments such as stocks and bonds. This gives an individual the chance to either make money from existing property or to take advantage of the low prices and purchase property which will be rented.
The cap rate for rental properties can be good. If you had a piece of Las Vegas strip real estate that cost $350,000 and it rents for $35,000 per year, the cap rate is 35,000/350,000=10%. This is a good ROI in these times.
Real estate business operations:
The property that you own can increase the revenue by taking advantage of itself. If, for example, your Las Vegas strip real estate was a hotel, you could generate more revenue by selling in suite movies to your guests, if the property was an office building, you can generate revenue by installing vending machines. To make money from these extras usually requires the owner to have some sub-specialty knowledge but for those entrepreneurs that do have this knack, and fully understand the way the market works, there are many money making opportunities.
The Martin is a piece of Las Vegas strip real estate that caters to those who wish to have the best. Condo units from $300,000 to well over a million are available for those who want the best, but be within walking distance of the strip and city center.