Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Milan Henderson, NV 89015

    View on Map
    Claim this Listing
    For Sale
    $499,990

    Land - Henderson, NV

    Lot size:
    1.99 Acres
    Added:
    Apr 18, 2023
    Days on Market:
    1099
    Last Refresh:
    Apr 20 at 9:06 am

    Property Features for Milan

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Family-Less Than 1/2 Acre,Horses Permitted
    Standard status
    Active
    APN
    179-04-803-008
    Lot size
    1.99 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1097

    Utilities

    Sewer type
    None
    Water source
    Public

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Tim W Shaw
    Tim W Shaw

    Listing agent Tim W Shaw License #BS.0002607

    Listing office Douglas Elliman of Nevada LLC 1700 S. Pavilion Center Dr., Las Vegas, NV

    Listing date Apr 18, 2023

    MLS# 2489420 Listing URL

    Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Henderson Land with Development Potential

    This 1.99 net acre property is located at the northeast corner of Ithaca and Milan in Henderson, Nevada. Both streets are paved. Zoned RS-1, the property allows for family residential use with less than 1/2 acre and permits horses. Water is available on Milan. The property is suitable for one custom home. Prospective buyers should conduct due diligence to determine the ability to obtain a septic tank permit for a single home from the Health Department and the City of Henderson, as sewer access is distant. A SNWA septic waiver of AB220 is documented and on the SNWA agenda for March 27, 2025. The buyer is responsible for obtaining the septic permit. Verifiable proof of funds must accompany all offers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -114.944646
    Latitude
    36.056727

    Nearby Similar for Sale

    • $340,000

      Lake Las Vegas Golf Course Lot

      Vacant 0.33-acre lot with golf frontage and panoramic views.
      12 Via Modena Court, Henderson, NV 89011
      View Details
    • $484,888
      1,566 SF

      Lake Las Vegas End-Unit Condo

      Furnished 3-bedroom condo with lake, pool, and mountain views.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $499,000

      Henderson Land in Seven Hills

      Homesite in guard-gated community, seller financing available.
      1529 Via Della Scala, Henderson, NV 89052
      View Details
    • $299,900
      572 SF

      Henderson Retail Space For Sale

      Retail space available in Henderson, Nevada.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $199,000
      476 SF

      Furnished Studio with Lake Views

      Furnished studio near Lake Las Vegas with amenities included.
      29 Montelago Boulevard, Henderson, NV 89011
      View Details
    • $332,888
      967 SF

      Furnished Condo in Lake Las Vegas

      Upgraded, move-in ready condo with resort-style living and walkable amenities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $388,000
      1,268 SF

      Lake Las Vegas Luxury Condo

      Renovated condo with lake views and resort-style amenities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $900,000

      Dragon Mountain Court Land Opportunity

      Rare lot near dragon rock formation in MacDonald Highlands community.
      619 Dragon Mountain Court, Henderson, NV 89012
      View Details
    • $325,000

      Land in Prestigious Southshore Community

      Land for custom estate with mountain views in Henderson, NV.
      4 Rue Du Ville Way, Henderson, NV 89011
      View Details
    • $204,900
      479 SF

      Henderson Resort Style Suite

      Resort-style suite with lake, mountain, and golf course views.
      29 Montelago Boulevard, Henderson, NV 89011
      View Details
    • $1,730,000

      Premium Homesite in Ascaya, Henderson

      Homesite in guard-gated community with mountain and desert views.
      2 Cloudloft Court, Henderson, NV 89012
      View Details
    • $2,198,900

      Ascaya Homesite with Unrivaled Views

      Premier homesite in Ascaya with unobstructed Las Vegas Valley views.
      8 Wanderlust Court, Henderson, NV 89012
      View Details

    FAQs

    What type of property is this?
    Land - 1.99 acres of land in Henderson, Nevada.
    Where is this land located?
    The property is located at Milan Henderson, NV.
    What is the asking price?
    The asking price for this property is $499,990.
    What are key features of this property?
    This property features: 1.99 net acres of land.; Located on the NE corner of Ithaca and Milan.; Both streets are paved.
    (702) 616-1910
    We can help!
    Listing Contact
    Tim W Shaw
    Tim W Shaw
    Real Estate License ID: BS.0002607
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!