Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1.51 +/- Ac Westridge & Horizon Rdg Henderson, NV 89012

    Sponsored
    For Sale
    $700,000

    Prime 1.51-acre residential lot in Henderson, NV.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1.51-acre parcel, located at 1.51 +/- Ac Westridge & Horizon Ridge, Henderson, NV 89012 (APN 178-22-701-002), presents a unique opportunity for residential development. Zoned RS-2, allowing for low-density residential construction (2 dwelling units per acre), this property offers stunning views of the Las Vegas city skyline. Convenient access to the 215 freeway via Gibson Road adds to its appeal. Existing infrastructure includes water and sewer lines already in place along Westridge Road, minimizing development costs. Importantly, there are no HOA dues associated with this property. While situated next to Black Mountain, it's designated as Flood Zone A. The 2019/2020 property taxes were $429.83. This land is ideal for building custom homes or a small-scale residential development, offering both breathtaking views and convenient access to major roadways. The asking price for this remarkable property is $700,000.

    Property Features for 0 1.51 +/- Ac Westridge & Horizon Rdg

    General Information

    Property type
    Land
    Lot Size
    65,776 SF

    HighLights

    • RS‑2 zoning, allowing low‑density residential development (2 units per acre).
    • Excellent visibility and access to the 215 via Gibson Road.
    • Westridge Road improvements include new water and sewer lines.
    • No homeowner's association fees.
    • Adjacent to Black Mountain.
    • Located in Flood Zone A.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -115.0584612
    Latitude
    36.0161023

    Nearby Similar for Sale

    • $260,000
      Pending

      Furnished Condo with Mountain Views

      Upscale Lake Las Vegas condo with mountain and village views.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $204,900
      479 SF

      Henderson High-Rise Resort Living

      Condo with lake, mountain, and golf course views.
      29 Montelago Blvd, Henderson, NV 89011
      View Details
    • $415,000
      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
    • $499,888
      1,566 SF

      Furnished Condo with Lake Views

      Spacious, fully furnished 3-bedroom condo with resort-style amenities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $575,000
      1,624 SF

      Remodeled Lake Las Vegas Residence

      Stunning 3-bedroom end unit with lake and village views.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $338,888
      967 SF

      Viera Condominiums Furnished Unit

      Upgraded, furnished 2-bedroom condo in Lake Las Vegas resort community.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $349,000
      Pending

      Furnished Condo in Lake Las Vegas

      Remodeled 2-bedroom condo near elevator, garage, and gym.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $272,000
      735 SF

      Lake Las Vegas Condo with Views

      Top-floor condo in Lake Las Vegas with resort-style amenities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $220,000
      674 SF

      Condo with Lake Las Vegas Views

      One-bedroom condo with stunning views and resort-style amenities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $340,000
      889 SF

      Lake Las Vegas Condo with Views

      Two-bedroom condo with lake and village views in Henderson.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $165,000
      Pending

      Luxury Studio in Lake Las Vegas

      Remodeled, fully furnished studio near the village and lake.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details
    • $299,900
      572 SF

      Viera Condo with Mountain View

      One-bedroom condo in Henderson with mountain views and included utilities.
      30 Strada Di Villaggio, Henderson, NV 89011
      View Details

    FAQs

    What type of property is this?
    Land - Prime 1.51-acre residential lot in Henderson, NV.
    Where is this land located?
    The property is located at 1.51 +/- Ac Westridge & Horizon Rdg Henderson, NV.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: RS-2 zoning, allowing low-density residential development (2 units per acre).; Excellent visibility and access to the 215 via Gibson Road.; Westridge Road improvements include new water and sewer lines.
    Request Owner's contact information
    1.51 +/- Ac Westridge & Horizon Rdg Henderson, NV 89012
    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.
    1.51 +/- Ac Westridge & Horizon Rdg
    Henderson, NV 89012
    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.

    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
    1.51 +/- Ac Westridge & Horizon Rdg Henderson, NV 89012
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.