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    Cheyenne Ave & Shatz St Nellis Air Force Base, NV 89156

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    For Sale
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    Prime 7-acre industrial lot, excellent development potential.

    Property Features for 0 Cheyenne Ave & Shatz St

    General Information

    Property type
    Land
    Lot Size
    304,920 SF

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    Listing Contact
    Ben Millis
    Ben Millis

    Listing Agency: Avison Young Las Vegas Listing Agent: Ben Millis

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

    Learn more

    Overview

    This exceptional 7-acre industrial land parcel, located in North Las Vegas, Nevada (APN 140-15-502-001), presents a unique investment opportunity. Zoned IP (Industrial Park), this flat, graded site is ideal for various industrial uses, including manufacturing and distribution. Previous approvals existed for boat, RV, and self-storage facilities. A clean Phase 1 environmental report, along with a topographical survey and soils report, confirm the site's suitability for development. An Alta survey is also available. The property boasts convenient access to utilities, including a 10' water line in the northeast corner and an 8' water line in the southwest corner. An 8' sewer line is located in the adjacent street. NV Energy electricity is onsite, and SW Gas is available in the adjacent street. The property features a CMU block wall on two sides and chain-link fencing on the remaining two. Situated near Nellis Air Force Base, this 7-acre lot offers significant potential for a variety of industrial projects. The asking price is $2,600,000, translating to $410,743 per acre. The property is not located in a flood zone. This is a ready-to-develop site with all the necessary groundwork completed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Nellis Air Force Base
    County
    Clark
    State
    Nevada
    Longitude
    -115.0534144
    Latitude
    36.2183004

    FAQs

    What type of property is this?
    Land - Prime 7-acre industrial lot, excellent development potential.
    Where is this land located?
    The property is located at Cheyenne Ave & Shatz St Nellis Air Force Base, NV.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: 7-acre industrial land parcel in North Las Vegas, zoned IP (Industrial Park).; Suitable for manufacturing and distribution; prior approvals for boat, RV, and self-storage.; Flat, graded topography; clean Phase I environmental report, topographical survey, and soils report available.
    (702) 513-8780 Call to check price and availability
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    Cheyenne Ave & Shatz St Nellis Air Force Base, NV 89156
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    Nellis Air Force Base, NV 89156
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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
    Cheyenne Ave & Shatz St Nellis Air Force Base, NV 89156
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ben Millis
    Ben Millis
    Real Estate License ID: 0001152
    (702) 513-8780 (702) 472-7979 (702) 637-7671
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