960 Craig RdNorth Las Vegas, NV 89032

Property Details for 960 Craig Rd

Lot size

0.49 AC

Property type

Commercial real estate

APN

139-04-610-004

APU

13904610004

Description

This exceptional commercial land opportunity in North Las Vegas, Nevada, presents a unique chance for development. Located at 960 W Craig Rd, 89032, this property boasts a highly desirable location within a thriving retail hub. With lot sizes ranging from 1 to 7.06 acres, and a total square footage potential of 20,000 to 1,500,000, this parcel offers significant flexibility for various commercial projects. The property is zoned C-2, facilitating streamlined approvals and entitlements, a significant advantage compared to other Clark County jurisdictions. Its strategic position along the Craig Road Retail Corridor ensures excellent visibility, benefiting from a high volume of daily traffic (42,500 vehicles per day in 2022, according to TRINA NDOT data). The surrounding area is characterized by established residential communities to the west and north, a bustling retail corridor to the south, and the serene Craig Ranch Regional Park to the east. The property's proximity to over 1,700 recently built or under-construction award-winning homes and apartments further enhances its appeal and potential for strong returns. Within a one-mile radius, there's over 1.7 million square feet of existing retail space, solidifying its position within a major retail center. This property's combination of size, location, zoning, and surrounding development makes it an ideal investment for discerning developers seeking a prime location in a rapidly growing area. APN: 139-04-610-005.

• CAP approach

  CAP return

  Valuation

  6%

  $6,308,900

  6.5%

  $5,823,600

  7%

  $5,407,630

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,276,270

  Geo Method

  $4,276,270

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,804,400

  Retail / Commercial

  $5,669,840

  Mixed-Use / Specialty

  $5,751,580

  Hospitality / Lodging

  $4,352,490

  Office

  $5,823,600

  Institutional / Educational

  $6,015,760

  Residential Income

  $7,038,440

  Multifamily

  $7,876,330

  Automotive / Energy

  $5,156,370

  Parking / Income-Based Land

  $1,678,670

  Restaurant / Food Service

  $3,209,020

  Healthcare / Senior Housing

  $5,793,590

Location Insight

City

North Las Vegas

County

Clark

State

Nevada

Latitude

36.2399

Longitude

-115.157

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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