Turn-Key Investment Property For
For Sale
Contact for pricing
1510 W Horizon Ridge Pkwy, Henderson, NV 89012
Fully occupied property with long-term tenants in growing area.
Property Size13,187 SF
Price / SF$295.75
Days on Market503
Property Features for 1510 W Horizon Ridge Pkwy
General Information
Standard status
Active
Size
13,187 SF
Class
B
Property subtype
Retail, Office
Zoning
Mixed Use
Occupancy
82%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
2007
Buildings
1
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
RE/MAX Advantage
(702) 287-6553
Listed By:
Wes Drown, CCIM · License #NV BS000387
Source:
Crexi
Added: Apr 9, 2025
Changed: Aug 11
Last Checked: Aug 23 at 4:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advantage
Investment Insights
Based on property information with market context.
This turn-key property features five suites. Anytime Fitness, an existing tenant since the beginning, has renewed their lease for another five years, extending through December 2029. A new salon has signed a lease for three years for suites 150-160. The upstairs suite is expected to be leased within the next six months at the list price, bringing the property to 100% occupancy. Located on Horizon Ridge Parkway, the primary east-west thoroughfare connecting the Black Mountains and McCullough Hills, the property sits above the 215-Freeway. South of the property are the master-planned, guard-gated subdivisions of MacDonald Highlands and Ascaya, which are currently under development. These subdivisions feature thousands of terraced lots with land starting in the $1.5 million range, indicating a large population growth underway within a 3-mile radius and a high net worth demographic. The property is situated on the primary established office and retail corridor serving this high-income demographic area, which continues to grow rapidly and set new record home prices annually for the Las Vegas Valley. The property size is 13187 square feet.
Key Highlights
- Turn‑key property with existing tenants, providing immediate income.
- Anytime Fitness, a long‑term tenant, has renewed their lease through December 2029.**
- New Salon lease for 3 years, for suites 150‑160.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$297,702
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,954,040
$6.0M
Cap Rate 7%
$4,252,886
$4.3M
Cap Rate 9%
$3,307,800
$3.3M
Market Conditions
NOI Build-Up for 13,187 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$451.0K $34.20/SF
− Vacancy
−$25.7K −$1.95/SF
EGI
$425.3K $32.25/SF
− OpEx
−$127.6K −$9.68/SF
NOI
$297.7K $22.58/SF
Area
Henderson, NV
Vacancy
5.70%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,954,040
Cap Rate 7%
$4,252,886
Cap Rate 9%
$3,307,800
Alternative Uses
Best Use
Retail
$4.25M
$3.72M – $4.96M
NOI $297,702 @ 7.0% cap · market cap 7.63%
Second Best
Office B
$3.09M
$2.70M – $3.61M
NOI $216,389 @ 7.0% cap · market cap 5.55%
Theoretical Best
Specialty Retail
$4.62M
$4.04M – $5.39M
NOI $323,364 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 89012, NV
35,211
Population
16,776
Households
2.1
Avg Household Size
44
Median Age
44%
College-Educated
97%
High-School Grad
10.7 sq mi
ZIP Area
3,291
Density / Sq Mi
$97,468
Median Household Income
$56,708
Median Earnings
$1,915
Median Rent
$472,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - Fully occupied property with long-term tenants in growing area.
Where is this retail property located?
The property is located at 1510 W Horizon Ridge Pkwy Henderson, NV.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Turn‑key property with existing tenants, providing immediate income.; Anytime Fitness, a long‑term tenant, has renewed their lease through December 2029.**; New Salon lease for 3 years, for suites 150‑160.
