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

    646 Horizon Dr Henderson, NV 89015

    • Bars
    • 4,742 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2020
    $600,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0404392
    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

    • Putter's Bar and Grill Horizon / Bar & Grill

    Property Details for 646 Horizon Dr

    Year built
    2021
    Construction
    FRAME
    Lot size
    0.89 lot acres
    Property size
    4,742 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    179-29-516-003
    APU
    17929516003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $715,000
      ML approach
      $660,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $456,000
      Market price range: $204k - $876k

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -114.965
    Latitude
    36.0115
    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
    $10,983
    $101,766
    $358,012
    $459,778
    -
    $290,760
    $1,022,891
    $1,313,651

    Comparable in this City

    • Value Estimation
      $255,000
      5,974 SF

      107 Water St

      BAR, TAVERN • 5,974 SF
      107 Water St, Henderson, NV 89015-7440
      View Details
    • Value Estimation
      $235,000
      5,790 SF

      754 Boulder Hwy

      BAR, TAVERN • 5,790 SF
      754 Boulder Hwy, Henderson, NV 89015-7589
      View Details
    • Value Estimation
      $2,430,000
      7,605 SF

      128 Market St

      BAR, TAVERN • 7,605 SF
      128 Market St, Henderson, NV 89015-7365
      View Details
    • Value Estimation
      $2,200,000
      5,282 SF

      46 Water St

      BAR, TAVERN • 5,282 SF
      46 Water St, Henderson, NV 89015-7223
      View Details
    • Value Estimation
      $245,000
      4,969 SF

      1442 Lk Mead Pkwy

      BAR, TAVERN • 4,969 SF
      1442 Lk Mead Pkwy, Henderson, NV 89015-4601
      View Details
    • Value Estimation
      $300,000
      9,627 SF

      642 Boulder Hwy

      BAR, TAVERN • 9,627 SF
      642 Boulder Hwy, Henderson, NV 89015-7574
      View Details

    Similar Nearby for Sale

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      Established Coffee Shop Investment Opportunity

      Corporate guaranteed coffee shop with over 11 years remaining.
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      Retail property with a new 15-year absolute triple net lease.
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      19,670 SF

      Henderson Shopping Center For Sale

      Fully occupied shopping center in Henderson, Nevada, anchored by Albertsons.
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    • $18,079,000
      119,748 SF

      Multi-Tenant Retail Showroom Building

      119,748 SF retail showroom on 8.62 acres for sale.
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    • $230,000
      0.69 Acres

      Residential Land in Henderson, Nevada

      Land with mountain views, suitable for custom home development.
      Parawan St, Henderson, NV 89015
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      3,889 SF

      Upscale Retail Center Space Available

      Retail suites available in growing Henderson location.
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    • $3 SF/Yr
      4,279 SF

      Upscale Retail Center Space Available

      Retail and restaurant spaces available in growing Henderson area.
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    • $3 SF/Yr
      2,510 SF

      Retail Center Near Growing Communities

      Upscale retail spaces available near Cadence and Lake Las Vegas.
      1461 E Lake Mead Pkwy, Henderson, NV 89015
      View Details
    • $3 SF/Yr
      1,171 SF

      Retail Space Near Growing Communities

      Upscale retail center with tenant improvements available near new housing.
      1469 E Lake Mead Pkwy, Henderson, NV 89015
      View Details
    • $2 SF/Yr
      2,858 SF

      Restaurant Space with Grease Trap

      Second-generation restaurant space available for lease.
      290 E Horizon Dr, Henderson, NV 89015
      View Details
    • Contact for pricing
      38,167 SF

      Boulder Marketplace Anchor Space

      Henderson, NV Retail Anchor Opportunity
      716 Boulder Hwy, Henderson, NV 89015
      View Details
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    646 Horizon Dr
    Henderson, NV 89015
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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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