Turn-Key Investment Property For
For Sale
$3,500,000
1510 West Horizon Ridge Parkway, Henderson, NV 89012
Fully occupied property with long-term tenants in growing area.
Property Size13,187 SF
Price / SF$265.41
Days on Market207
Property Features for 1510 West Horizon Ridge Parkway
General Information
Standard status
Active
Size
13,187 SF
Class
B
Total Parking Spaces
60
Property subtype
Mixed Use
Zoning
Mixed Use Retail-Office
Building Details
Building Size
13,187 SF
Year Built
2007
Listing Agency:
RE/MAX
Listed By:
Wes Drown,CCIM · License #BS000387
(702) 287-6553
Source:
Remaxcommercial
Added: Mar 27
Changed: Oct 13
Last Checked: Oct 19 at 3:15AM
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
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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 / Yr
$297,702
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
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
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 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 8.51%
Second Best
Office B
$3.09M
$2.70M – $3.61M
NOI $216,389 @ 7.0% cap · market cap 6.18%
Theoretical Best
Specialty Retail
$4.62M
$4.04M – $5.39M
NOI $323,364 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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 West Horizon Ridge Parkway Henderson, NV.
What is the asking price?
The asking price for this property is $3,500,000.
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.
