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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3051 Horizon Ridge Pkwy Henderson, NV 89052

    • Office buildings
    • 23,359 SF
    • 1.96 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Last Sale
    Oct 23, 2023
    $6,000,000
    Value Estimations
    $6,145,000
    Cap Rate Potential
    5.6%
    Office buildings
    Location Intelligence
    Property ID
    US62-1181801
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Preschool At Seven Hills / High School / Daycare Center
    • Las Vegas Bible College / High School / Vocational School
    • Stone Bridge Learning Academy - 7 Hills / High School / Daycare Center

    Property Details for 3051 Horizon Ridge Pkwy

    Year built
    2005
    Construction
    CONCRETE
    Lot size
    1.96 lot acres
    Property size
    23,359 SF
    Property type
    Office buildings
    APN
    177-35-510-037
    APU
    17735510037

    Description

    This exceptional single-story medical office building, totaling 26,313 square feet, presents a unique investment opportunity in Henderson, Nevada. Located at 3051 W Horizon Ridge Pkwy, 89052, this property sits on a 1.96-acre lot in Clark County (APN 17735510037) and boasts a prime location within the city's thriving medical business district. Built in 2005, the building currently features three suites, with 13,000 square feet of vacant space ready for immediate occupancy. The flexible layout allows for various configurations, catering to diverse business needs, from medical practices to executive, creative, traditional, or coworking spaces. Two spaces are currently available, ranging from 3,309 to 6,101 square feet. The building's "gray shell" design provides significant customization potential, enhanced by a generous $50 per square foot tenant improvement allowance, allowing businesses to tailor the space to their exact specifications. This presents a rare chance to establish a presence in a high-demand area with significant upside potential. The property's strategic location and adaptable design make it an ideal choice for businesses seeking a prominent and functional space in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,570,000
      ML approach
      $6,460,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,165,000
      6.5%
      $5,690,000
      7%
      $5,285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,292,000
      Market price range: $6.65M - $9.03M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,865,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $9,090,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $6,430,000
      Change: -18% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -115.121
    Latitude
    35.997
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $567,764
    $717,224
    $1,284,988
    -
    $1,622,183
    $2,049,211
    $3,671,394

    Comparable in this City

    • Value Estimation
      $8,430,000
      48,619 SF

      3145 Saint Rose Pkwy

      OFFICE BUILDING • 48,619 SF
      3145 Saint Rose Pkwy, Henderson, NV 89052-3557
      View Details
    • Value Estimation
      $8,900,000
      42,168 SF

      11500 Eastern Ave Ste, Unit 260

      OFFICE BUILDING • 42,168 SF
      11500 Eastern Ave Ste, Henderson, NV 89052-5577
      View Details
    • Value Estimation
      $1,850,000
      4,500 SF

      2410 Horizon Rdg Pkwy

      OFFICE BUILDING • 4,500 SF
      2410 Horizon Rdg Pkwy, Henderson, NV 89052-2734
      View Details
    • Value Estimation
      $15,150,000
      45,499 SF

      3185 Saint Rose Pkwy

      OFFICE BUILDING • 45,499 SF
      3185 Saint Rose Pkwy, Henderson, NV 89052-3510
      View Details
    • Value Estimation
      $2,570,000
      11,936 SF

      11540 Eastern Ave

      OFFICE BUILDING • 11,936 SF
      11540 Eastern Ave, Henderson, NV 89052-6448
      View Details
    • Value Estimation
      $1,020,000
      4,500 SF

      2440 Horizon Rdg Pkwy

      OFFICE BUILDING • 4,500 SF
      2440 Horizon Rdg Pkwy, Henderson, NV 89052-2727
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $2,250,000

      1.5 Acre Golf Course Lot

      Gated 1.5 acre lot with city and mountain views.
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      Retail Property in Henderson, Nevada

      Retail property available for sale in Henderson, Nevada.
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    Similar Nearby for Lease

    • $2.00 SF/Yr
      29,824 SF

      Green Valley Ranch Office Building

      Two-story office building in Green Valley Ranch with covered parking.
      2298 W Horizon Ridge Pkwy, Henderson, NV 89052
      View Details
    • $2.00 SF/Yr
      4,488 SF

      Horizon Ridge Office Building

      Single-story office building in Horizon Ridge Commons Office Park.
      2425 W Horizon Ridge Pkwy, Henderson, NV 89052
      View Details
    • $2 SF/Yr
      48,000 SF

      Henderson Office Space for Lease

      48,000 sq ft office, prime location
      2705 West Horizon Ridge Parkway | Henderson, NV 89052, Henderson, NV 89052
      View Details
    • Contact for pricing
      5,683 SF

      Horizon Ridge Executive Suites

      Henderson, NV Office Space Available
      2298 Horizon Ridge Pkwy, Henderson, NV 89052
      View Details
    • $27 SF/Yr
      1,450 SF

      Henderson Medical Office Space for Lease

      Prime Medical Office Suite in Henderson, NV
      10950 Eastern Ave, Henderson, NV 89052
      View Details
    • $22 SF/Yr
      18,535 SF

      Henderson Executive Office Suites

      Prestigious Henderson office space, flexible options
      871 Coronado Center Dr, Henderson, NV 89052
      View Details
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    Henderson, NV 89052
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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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