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    960 Craig Rd North Las Vegas, NV 89032

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    For Sale
    Contact for pricing

    Prime Retail Land, High Visibility

    Property size:
    20,000 SF

    Property Features for 960 Craig Rd

    General Information

    Property type
    Land
    Square Feet
    20,000 SF
    Lot Size
    43,560 SF

    We can help!

    Listing Contact
    Dan Adamson
    Dan Adamson

    Listing Agency: ROI Commercial Real Estate Inc Listing Agent: Dan Adamson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial land opportunity in North Las Vegas, Nevada, presents a unique chance for development. Located at 960 W Craig Rd, 89032, this property boasts a highly desirable location within a thriving retail hub. With lot sizes ranging from 1 to 7.06 acres, and a total square footage potential of 20,000 to 1,500,000, this parcel offers significant flexibility for various commercial projects. The property is zoned C-2, facilitating streamlined approvals and entitlements, a significant advantage compared to other Clark County jurisdictions. Its strategic position along the Craig Road Retail Corridor ensures excellent visibility, benefiting from a high volume of daily traffic (42,500 vehicles per day in 2022, according to TRINA NDOT data). The surrounding area is characterized by established residential communities to the west and north, a bustling retail corridor to the south, and the serene Craig Ranch Regional Park to the east. The property's proximity to over 1,700 recently built or under-construction award-winning homes and apartments further enhances its appeal and potential for strong returns. Within a one-mile radius, there's over 1.7 million square feet of existing retail space, solidifying its position within a major retail center. This property's combination of size, location, zoning, and surrounding development makes it an ideal investment for discerning developers seeking a prime location in a rapidly growing area. APN: 139-04-610-005.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lv health care Pediatrician Culinary Health Center ... Community Health Centre

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1610125
    Latitude
    36.24229441

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    FAQs

    What type of property is this?
    Land - Prime Retail Land, High Visibility
    Where is this land located?
    The property is located at 960 Craig Rd North Las Vegas, NV.
    What are key features of this property?
    This property features: .5 - 7.06 acres available in North Las Vegas, NV.; Excellent visibility on Craig Road Retail Corridor; 42,500 vehicles per day (2022 TRINA NDOT data).; Prime North Las Vegas location within a major retail hub; over 1.7 million square feet of retail space within a one-mile radius.
    (702) 550-4934 Call to check price and availability
    Request Owner's contact information
    960 Craig Rd North Las Vegas, NV 89032
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    North Las Vegas, NV 89032
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    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
    960 Craig Rd North Las Vegas, NV 89032
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Adamson
    Dan Adamson
    Real Estate License ID: 26992
    (702) 550-4934 (702) 580-3100
    Learn more
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