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    51 Shores Dr Hawthorne, NV 89415
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    51 Shores Dr Hawthorne, NV 89415

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    • Land
    • 1.02 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 51 Shores Dr

    Lot size
    1.02 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This 1.02-acre agricultural parcel in Mineral County, Nevada, presents a unique opportunity to build your dream home. Located at 51 Shores Drive, Walker Lake, NV 89415, this property boasts breathtaking views of the majestic surrounding mountains. The lot is conveniently situated within walking distance of Walker Lake, offering easy access to recreational activities. The property is accessible via a paved road, and essential utilities are readily available: power and water connections are possible. Please note that there is a monthly water line maintenance fee of $25.00. This is an exceptional opportunity to own a piece of Nevada's natural beauty and create a tranquil retreat. The asking price for this remarkable property is $49,900. Buyers are responsible for conducting their own due diligence regarding utility connections and any applicable regulations or permits. The property's GPS coordinates are 38.565724 latitude and -118.7198004 longitude. This idyllic setting offers the perfect canvas for your dream home, providing a peaceful escape from the everyday hustle. Don't miss this chance to own a piece of Nevada's stunning landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hawthorne
    County
    Mineral
    State
    Nevada
    Longitude
    -118.72
    Latitude
    38.5657

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

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      0.99 Acres

      127 Shores Dr

      Land • 0.99 Acres
      127 Shores Dr, Hawthorne, NV 89415
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      0.41 Acres

      258 Debbie Dr

      Land • 0.41 Acres
      258 Debbie Dr, Walker Lake, NV 89415
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      0.32 Acres

      571 Frontage Rd

      Land • 0.32 Acres
      571 Frontage Rd, Walker Lake, NV 89415
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      0.75 Acres

      38

      Land • 0.75 Acres
      0 38, Hawthorne, NV 89415
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    • Value Estimation by Request
      0.34 Acres

      317 Betty Jane Dr

      Land • 0.34 Acres
      317 Betty Jane Dr, Walker Lake, NV 89415
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    Similar Nearby for Sale

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      Land with Mountain and Lake Views

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    • $179,500
      120.00 Acres

      120 Acres Wooded Mountain Parcel

      Off-grid land with gravel road access near mountains.
      Apn 006-420-17 Lucky Boy Pass Rd, Hawthorne, NV 89415
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    • Contact for pricing

      Walker Lake View Lots

      Two adjacent lots with lake and mountain views for sale.
      567 Welcome Dr, Walker Lake, NV 89415
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      Land Parcel with Lake View

      Corner parcel with utilities and lake and mountain views.
      317 Betty Jane Dr, Walker Lake, NV 89415
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    • Contact for pricing

      Land Parcel with Lake View

      0.41-acre parcel with power and water meter installed.
      258 Debbie Dr, Walker Lake, NV 89415
      View Details
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    51 Shores Dr
    Hawthorne, NV 89415
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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
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    51 Shores Dr, Hawthorne, NV, 89415
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