Henderson Redevelopment Opportunity Zone
Lake Mead Blvd. & Atlantic St., Henderson, NV 89015
Eleven parcels for redevelopment in Henderson's Opportunity Zone.
Type:Land
Property size:
14,328 SFPrice / SF:
$383/SF- Added:
- Apr 26, 2024
- Days on Market:
- 768
- Last Refresh:
- May 12 at 9:44 pm
Property Features for Lake Mead Blvd. & Atlantic St.
General Information
- Standard status
- Active
- Size
- 14,328 SF
- Property subtype
- Land
Listing agent Andrew Levy License #BS.0007575
Listing office Las Vegas-ERA Brokers Consolidated
Listing date Apr 26, 2024
Source Crexi
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 Las Vegas-ERA Brokers Consolidated
HighLights
- Large Assemblage: 11 parcels plus 2 city parcels offer significant development potential.
- Strategic Location: In Henderson’s redevelopment district and an Opportunity Zone.
- Approved Development Plans: Streamlining the development process for retail, commercial, office, senior/medical uses.
- Proximity to Amenities: Less than 1 mile from downtown Henderson, arena, hotel/casinos, retail, and office spaces.
- Existing Buildings: Includes a 14,328+\/- SF semi‑occupied office building and a 2,300+\/- SF vacant retail building.
- High‑Traffic Location: Located on Lake Mead Blvd.
Overview
This offering comprises 11 parcels, along with 2 additional parcels under purchase agreement from the City of Henderson’s Redevelopment District. The assemblage includes vacant land, a semi-occupied 14,328 square foot two-story office building, and a vacant 2,300 square foot two-story retail building. Development plans have been submitted to the City for approval, outlining various retail and commercial uses, additional office spaces, and potential senior or medical facilities. Situated within the City of Henderson’s redevelopment district and a designated Opportunity Zone, the property supports a range of uses, from fast food and retail to office, residential, and senior living. Located less than one mile from downtown Henderson, the site is in proximity to an arena, hotel-casinos, retail spaces, and office buildings. Lake Mead Boulevard, a main thoroughfare, provides access to Lake Mead, Boulder Dam, and the Lake Las Vegas resort area.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $490.0k | $34.20 |
| − Vacancy | −$21.6k | −$1.50 |
| EGI | $468.5k | $32.70 |
| − OpEx | −$140.5k | −$9.81 |
| NOI | $327.9k | $22.89 |
14,328 SF · lease $34.20/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.68M
$4.10M – $5.47M
NOI $327,920 @ 7.0% cap · market cap 5.96%
Second Best
Office B
$3.36M
$2.94M – $3.92M
NOI $235,112 @ 7.0% cap · market cap 4.27%
Theoretical Best
Specialty Retail
$5.02M
$4.39M – $5.86M
NOI $351,343 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Commercial land
Map
- City
- Henderson
- County
- Clark
- State
- Nevada
- Longitude
- -114.964
- Latitude
- 36.0457
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Eleven parcels for redevelopment in Henderson's Opportunity Zone.
Where is this commercial land located?
The property is located at Lake Mead Blvd. & Atlantic St. Henderson, NV.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Large Assemblage: 11 parcels plus 2 city parcels offer significant development potential.; Strategic Location: In Henderson’s redevelopment district and an Opportunity Zone.; Approved Development Plans: Streamlining the development process for retail, commercial, office, senior/medical uses.
