A mall or a 2 BR strip condo?

So-called liquidation proceeds on the Primm, Nevada mall, formerly known as the Fashion Outlets of Las Vegas, were about $402,000, roughly the cost of a luxury two-bedroom condominium near the strip.

The Prizm Outlets had been valued as high as $28.2 million less than a year ago, and $125 million in 2012 when the loans were bundled into a commercial mortgage-backed security.

https://finance.yahoo.com/news/120-loss-vegas-mall-triggers-152247129.html

 

Crystals went for $1.1b: https://vegasinc.lasvegassun.com/business/2016/mar/18/citycenters-shops-at-crystals-selling-for-11-billi/

 

The real question, is it even worth buying that mall. (or many others) for even $1. Upkeep, repairs, improvements, taxes, insurance all cost money. Money that might never come back.

 

I am assuming that did not include the land value?

 

sounds like it would be fun to buy just to make a Zombie movie...

 

I was just there last Tuesday 5/18 & it was really depressing. I'd say at least 80% of the stores closed, didn't look like the neighboring casinos were helping with the foot traffic.
I can't imagine how they'd bounce back, financially.

The only store we actually went into was Bath & Body Works because my friend wanted soap.

 

@Lulu4545 - your pictures make me sad. Now where am I supposed to stop with my old man bladder. Whiskey Pete’s it is.

 

Or Buffalo Bills?

 

Brutal. I was only ever in Primm once, about 10 years ago, and the casinos were eerily quiet and empty even then. It seems like there would be some demand for Primm, but apparently people are just too eager to get to Vegas.

 

At least you can see the Bonnie and Clyde car!

 

The only store I like there is the Williams Sonoma outlet. I will miss it when it's gone.

 

Sorry, I'm pretty sure it's gone already.

 

Bah! Humbug!

 

Last time we went to Primm Mall, it was towards the end of 2019. We reached there a little after 10am. It was dead, dead, dead...... I swear there was less than 15 people (four of us included) in the whole mall and it seems 90% of the stores were closed or spaces boarded up.

Actually there were more boarded up spaces than closed stores. Maybe we were early in the morning but I seriously doubt it got better as the day progressed.

Really sad to see that. I remember my first visit in 2010 and the mall and casino was lively. I actually won $400 at the craps table and I was a newbie at craps and didn't quite know what the hell I was doing.