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    Cor Of Dean Martin Dr. And Hotel Rio Dr Las Vegas, NV 89103

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    For Sale
    Contact for pricing

    ±36 Acres, Prime Location, High NOI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional ±36.35-acre property in the heart of Las Vegas' resort corridor presents a unique investment opportunity. Situated on the southwest corner of Dean Martin Dr. and Hotel Rio Dr., this strategically located land boasts approximately 1,350 feet of frontage along Dean Martin Dr. and direct access to the Strip via Harmon Ave. The site currently features approximately 518,099 square feet of warehouse, flex-office, and retail space across 17 buildings, generating an annual lease revenue of approximately $3,188,221 and a projected 2022 Net Operating Income (NOI) of approximately $2 million. This substantial cash flow provides immediate return while offering significant redevelopment potential. Zoned within Clark County's Entertainment Mixed Use and MUD-1 Mixed Use Overlay District, the property allows for a diverse range of uses, including a resort casino, retail, office, multifamily residential, residential condominiums, and hotel condominiums. Clark County's lack of floor area restrictions further enhances development flexibility. The property's superior visibility and accessibility are amplified by existing and planned infrastructure improvements, and its proximity to Allegiant Stadium and T-Mobile Arena adds to its appeal. This is a rare opportunity to acquire a large, contiguous parcel in a prime location with significant upside potential. The parcel includes APNs 162-20-112-002

    Property Features for 0 Cor Of Dean Martin Dr. And Hotel Rio Dr

    General Information

    Property type
    Land
    Lot Size
    18,295 SF

    HighLights

    • Highly desirable Las Vegas Strip location.
    • Excellent visibility and accessibility, boosted by ongoing infrastructure improvements.
    • Existing cash flow offsets holding costs before redevelopment.
    • Close proximity to Allegiant Stadium and T‑Mobile Arena.
    • Flexible zoning allows for diverse development options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1833643
    Latitude
    36.1135409

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    FAQs

    What type of property is this?
    Land - ±36 Acres, Prime Location, High NOI
    Where is this land located?
    The property is located at Cor Of Dean Martin Dr. And Hotel Rio Dr Las Vegas, NV.
    What are key features of this property?
    This property features: Highly desirable Las Vegas Strip location.; Excellent visibility and accessibility, boosted by ongoing infrastructure improvements.; Existing cash flow offsets holding costs before redevelopment.
    (702) 369-4852
    Request Owner's contact information
    Cor Of Dean Martin Dr. And Hotel Rio Dr Las Vegas, NV 89103
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    Realmo Value Estimation

    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.

    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
    Cor Of Dean Martin Dr. And Hotel Rio Dr Las Vegas, NV 89103
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