For Sale
$4,200,000

1070 Horizon Ridge PkwyHenderson, NV 89012

19,880 SF Office Building, 6.52% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 19,880-square-foot office building, located at 1070 W Horizon Ridge Pkwy, Henderson, NV 89012, presents a compelling value-add investment opportunity. The Class B property, built in 2004, sits on a 1.7-acre lot and boasts 117 parking spaces (5.89 per 1,000 sq ft). Currently 100% occupied with 11 tenants, including a mix of medical and professional offices, the property generates a strong NOI of $237,637, yielding a 6.52% cap rate at an asking price of $4,200,000 ($211.27/sq ft). All tenants are on gross leases, offering significant upside potential through market rent adjustments and expense recapture. The property features a desirable location within the MacDonald Highlands luxury community, near the Henderson Hollywood Hills, with high visibility on West Horizon Ridge Parkway. The building benefits from substantial tenant improvements and a strong demographic profile, with an average household income exceeding $108,735 within a 3-mile radius. The property is zoned CO (Office Commercial) and offers a fee-simple ownership structure. The building consists of one, two-story structure. Detailed lease information is available upon request.

Highlights

  • 73% medical office tenants in West Horizon Ridge Office Plaza.
  • Located in MacDonald Highlands, a luxury community near Black Mountains.
  • Stunning architecture, grand entry, and upscale finishes.
  • Ample parking (5.89 spaces/1,000 SF).
  • High visibility: 342 ft frontage on West Horizon Ridge Parkway, near I-215 & US 95.
  • Historically full occupancy.

Property Details for 1070 Horizon Ridge Pkwy

Property type
Office properties, Medical offices
Square Feet
19,880 SF
Class
B
Year Built
2004
Buildings
1
Stories
2
Lot Size (sq. ft)
74,052 SF
Units
11

Location Insight

City
Henderson
County
Clark
State
Nevada
Latitude
36.02221583461
Longitude
-115.03249902683
1070 Horizon Ridge Pkwy, Henderson, Nevada

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1070 Horizon Ridge Pkwy
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