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    771 E Horizon Dr Henderson, NV 89015

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    771 E Horizon Dr Henderson, NV 89015

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    • Strip malls
    • 27,156 SF
    • 3.42 lot acres
    For Lease
    $7,595,000
    View Listing →
    Retail Space in Cornet Plaza For Lease
    $7,595,000
    27,160 SF

    Retail Space in Cornet Plaza

    Retail space available in busy Henderson shopping center.

    771 E Horizon Dr, Henderson, NV 89015
    View Listing
    Property ID
    US62-0472037
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Diamond Team Garage Service / Building Supply / General Contractor
    • Permanent Make-up by Donna Jean / Medical Clinic / Skin Care Clinic
    • Amber Hills Dental / Dental Office
    • Soto Portable Toilet Company / Building Supply
    • Ball Dumpster Service / Waste Management Facility / Hazardous Waste Disposal

    Property Details for 771 E Horizon Dr

    Year built
    2006
    Construction
    FRAME
    Lot size
    3.42 lot acres
    Property size
    27,156 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    179-20-805-001
    APU
    17920805001

    Description

    This exceptional street-front buildable pad, located at 771 E Horizon Dr, Henderson, NV 89015, presents a unique investment opportunity. Situated at the busy intersection of Horizon Drive and College Drive, this property benefits from high visibility and significant daily traffic (27,000 cars). The 2007-built, single-story building is part of Cornet Plaza, a thriving retail center boasting a diverse tenant mix including Intermountain Healthcare, Capriotti's, Papa John's, Great Clips, Spoiled Paws Pet Grooming, and Hammers Grill and Bar. The property's CC zoning (City of Henderson) allows for flexibility in development. Its strategic location within the Henderson retail corridor places it near major national retailers such as Lowe's, Kmart, McDonald's, and Taco Bell. Furthermore, its proximity to the College of Southern Nevada and Foothill High School ensures a consistent flow of potential customers. The APN is 179-20-805-001. This buildable pad offers unparalleled potential for growth and return on investment in a highly desirable Henderson location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,100,000
      6.5%
      $10,245,000
      7%
      $9,515,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $11,960,000
      Current use
      AUTO REPAIR, GARAGE
      $12,170,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -114.96
    Latitude
    36.0132
    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
    $38,924
    $521,413
    $1,186,704
    $1,708,117
    -
    $1,489,751
    $3,390,583
    $4,880,334

    Comparable in this City

    • Value Estimation
      $12,890,000
      58,857 SF

      898 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 58,857 SF
      898 Boulder Hwy, Henderson, NV 89015-7502
      View Details
    • Value Estimation
      $2,540,000
      12,272 SF

      650 Horizon Dr

      SHOPPING CENTER, STRIP CENTER • 12,272 SF
      650 Horizon Dr, Henderson, NV 89015-8491
      View Details
    • Value Estimation
      $1,975,000
      14,786 SF

      1469 Lk Mead Pkwy

      SHOPPING CENTER, STRIP CENTER • 14,786 SF
      1469 Lk Mead Pkwy, Henderson, NV 89015-4637
      View Details
    • Value Estimation
      $740,000
      0.30 Acres

      366 Lk Mead Pkwy

      SHOPPING CENTER, STRIP CENTER • 0.30 Acres
      366 Lk Mead Pkwy, Henderson, NV 89015-7286
      View Details
    • Value Estimation
      $1,740,000
      7,651 SF

      366 Lk Mead Pkwy

      SHOPPING CENTER, STRIP CENTER • 7,651 SF
      366 Lk Mead Pkwy, Henderson, NV 89015-7286
      View Details
    • Value Estimation
      $1,260,000
      7,000 SF

      121 Water St

      SHOPPING CENTER, STRIP CENTER • 7,000 SF
      121 Water St, Henderson, NV 89015-7221
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,670 SF

      Henderson Shopping Center For Sale

      Fully occupied shopping center in Henderson, Nevada, anchored by Albertsons.
      170-190 N Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing
      179,920 SF

      Diversified Retail Center Portfolio

      Eight retail centers across the Western US for sale.
      1421 S Boulder Hwy, Henderson, NV 89015
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      Henderson Redevelopment Opportunity Zone Property

      Eleven parcels for redevelopment in Henderson's Opportunity Zone.
      Lk Mead Blvd. & Atlantic St, Henderson, NV 89015
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      3,800 SF

      Boulder Highway Retail NNN Lease

      Retail property with a new 15-year absolute triple net lease.
      1461 S Boulder Hwy, Henderson, NV 89015
      View Details
    • $1,800,000
      5.00 Acres

      Henderson Vacant Land Opportunity

      Vacant lot in Henderson, build your dream home!
      N Magic Way, Henderson, NV 89015
      View Details
    • $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

    • $1.50 SF/Yr

      Henderson Neighborhood Shopping Center Space

      Retail, office, and entertainment spaces available in Henderson, Nevada.
      524-544 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing
      3,889 SF

      Upscale Retail Center Space Available

      Retail suites available in growing Henderson location.
      1473 E Lake Mead Pkwy, Henderson, NV 89015
      View Details
    • $1.50 SF/Yr
      2,200 SF

      Retail Space on Boulder Highway

      Retail spaces available on Boulder Highway with high visibility.
      522-538 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing

      College Square Retail Center Space

      Retail space available in College Square shopping center.
      Nwc College & Horizon, Henderson, NV 89015
      View Details
    • Contact for pricing

      Henderson Plaza Retail Space

      Neighborhood shopping center in Henderson, Nevada, with diverse tenant mix.
      524 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing

      Boulder Marketplace Anchor Store Opportunity

      Anchor store in Boulder Marketplace with high visibility and ample parking.
      716 S Boulder Hwy, Henderson, NV 89015
      View Details
    View Listing
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    771 E 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.

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    771 E Horizon Dr, Henderson, NV, 89015

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