1070 Horizon Ridge PkwyHenderson, NV 89012

Property Details for 1070 Horizon Ridge Pkwy

Year built

2004

Construction

FRAME

Lot size

1.70 AC

Property size (Sq ft)

18,912 SF

Property type

Office buildings

APN

178-22-614-004

APU

17822614004

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,067,304

  6.5%

  $4,677,512

  7%

  $4,343,404

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,789,019

  Geo Method

  $3,789,019

• Alternative Use

  Use

  Valuation

  Residential

  $5,800,115

  Hospitality

  $5,312,874

  Educational

  $4,420,249

  Medical

  $4,572,268

  Retail

  $6,875,942

Location Insight

City

Henderson

County

Clark

State

Nevada

Latitude

36.0224

Longitude

-115.032

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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