220 Horizon DrHenderson, NV 89015

Property Details for 220 Horizon Dr

Year built

1999

Construction

FRAME

Lot size

1.22 AC

Property size (Sq ft)

14,060 SF

Property type

Office properties

Property subtype

Office buildings

APN

179-19-805-013

APU

17919805013

Description

This exceptional 14,060-square-foot medical office building, located at 220 E Horizon Dr in Henderson, Nevada, presents a compelling investment opportunity. The Class B property, built in 1999 and renovated in 2019, sits on a 1.22-acre lot zoned CN (Neighborhood Commercial) and boasts 74 parking spaces. Currently 83% occupied, the multi-tenant building features a strong anchor tenant, the Southern Nevada Health District, and several long-term tenants including Premier Dental, Black Mountain Youth Academy, Little Angels Youth Services, and The Empowerment Centre. The asking price is $4,353,000, representing a 5.00% cap rate and a price per square foot of $309.60. The Net Operating Income (NOI) is $217,654. The property's modern two-tone exterior paint and desert landscaping create a visually appealing presentation. Its convenient location, approximately half a mile east of US-95, offers excellent visibility and accessibility. The building's design accommodates six tenants, and one vacant suite presents an opportunity for an owner-user or additional lease income. The property features extensive medical build-outs, including numerous wet exam rooms and extra restrooms in several suites. This is an ideal investment for buyers seeking strong income generation from established tenants or owner-users desiring supplemental income. The lease type is NNN.

• CAP approach

  CAP return

  Valuation

  6%

  $3,767,254

  6.5%

  $3,477,465

  7%

  $3,229,075

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,816,921

  Geo Method

  $2,816,921

• Alternative Use

  Use

  Valuation

  Residential

  $4,312,056

  Hospitality

  $3,949,821

  Educational

  $3,286,204

  Medical

  $3,399,222

  Retail

  $5,111,874

Location Insight

City

Henderson

County

Clark

State

Nevada

Latitude

36.0129

Longitude

-114.984

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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