Auction for prime Las Vegas Strip land (and its pink elephant) opens

You have a chance to own a piece of the Las Vegas Strip, if you have millions of dollars lying around.

An auction for 1.36 acres of land on the south side of Las Vegas’ famed tourist corridor opened on Thursday. The land houses the now closed Diamond Inn Motel and its eye-catching pink elephant statue, which is included in the auction listing.

The starting bid for the land is $12.5 million, according to the J.P. King Auction Company’s website. As of Thursday morning, there weren’t any bids on the land, which is across the street from Mandalay Bay and near a proposed expansion site of the Boring Company’s Vegas loop.

The auction listing describes the land as a redevelopment project since the property has 237 feet of frontage on Las Vegas Boulevard and is zoned for hotel and casino use. The listing indicates the property could be suited for high-rise luxury condos or an entertainment venue since it can have building heights ranging from 406 to 505 feet tall.

The now-closed 48-room Diamond Inn Motel building would likely be demolished as numerous code violations were found last year.

The auction closes on March 14.

Contact Sean Hemmersmeier at shemmersmeier@reviewjournal.com. Follow @seanhemmers34 on X.