Multi-Residential Zoned
For Sale
$1,300,000
425 Merlayne Drive, Henderson, NV 89011
Land is zoned for multi-residential use and is surrounded by everyday retail, dining, parks, and schools.
Property Size3,480 SF
Price / SF$373.56
Days on Market379
Property Features for 425 Merlayne Drive
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Duplex
Zoning
Multi-Residential
Taxes and HOA fees
Annual Taxes
$2,026
Amenities
Central Air, Electric
3
Tile, Other
Composition, Shingle
Other
Parking. Storage Area. Fenced Yard.
Other Parking.
Stucco, Other
Extra Storage.
Building Details
Year Built
1978
Stories
1
Listing Agency:
Black Gold Investment Group
(702) 849-8886
Listed By:
Sebastian Mogielnicki · License #S.0189500
(702) 913-7138
Source:
Xome
Added: Jul 27, 2025
Changed: Aug 8
Last Checked: Aug 9 at 4:30AM
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 Black Gold Investment Group
Investment Insights
Based on property information with market context.
This offering is land zoned for Multi-Residential use. The property listing notes that tenants may be on-site, and requests that they not be disturbed.
The location at 425 E Merlayne Drive, Henderson, NV 89011 places the site near stores, restaurants, shops, parks, and recreational facilities including baseball fields and basketball courts, along with schools.
With the Multi-Residential zoning already in place, the property is positioned for multi-family development or related residential income use consistent with the existing land designation.
The location at 425 E Merlayne Drive, Henderson, NV 89011 places the site near stores, restaurants, shops, parks, and recreational facilities including baseball fields and basketball courts, along with schools.
With the Multi-Residential zoning already in place, the property is positioned for multi-family development or related residential income use consistent with the existing land designation.
Key Highlights
- Land is zoned multi‑residential.
- Fenced yard with extra storage and a storage area.
- Stucco exterior with composition/shingle roof.
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
$39,921
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
3.07%
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%
$798,420
$798.4K
Cap Rate 7%
$570,300
$570.3K
Cap Rate 9%
$443,567
$443.6K
Market Conditions
NOI Build-Up for 3,480 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
$59.7K $17.16/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$57.0K $16.39/SF
− OpEx
−$17.1K −$4.92/SF
NOI
$39.9K $11.47/SF
Area
ZIP 89011
Vacancy
4.50%
Lease Rate
$17.16 /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%
$798,420
Cap Rate 7%
$570,300
Cap Rate 9%
$443,567
Alternative Uses
Best Use
Multifamily LT 5
$570.3K
$499.0K – $665.4K
NOI $39,921 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 2.76%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.50M
NOI $90,202 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 89011, NV
34,456
Population
15,505
Households
2.2
Avg Household Size
40
Median Age
37%
College-Educated
90%
High-School Grad
16.5 sq mi
ZIP Area
2,088
Density / Sq Mi
$93,881
Median Household Income
$46,604
Median Earnings
$1,725
Median Rent
$458,700
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Duplex - Land is zoned for multi-residential use and is surrounded by everyday retail, dining, parks, and schools.
Where is this duplex located?
The property is located at 425 Merlayne Drive Henderson, NV.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Land is zoned multi‑residential.; Fenced yard with extra storage and a storage area.; Stucco exterior with composition/shingle roof.
