750 Dorrell LnNorth Las Vegas, NV 89086

Property Details for 750 Dorrell Ln

Year built

2009

Construction

FRAME

Lot size

8.85 AC

Property size (Sq ft)

12,000 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

124-23-110-004

APU

12423110004

Description

This exceptional 16.14-acre commercial land parcel in North Las Vegas, NV, presents a unique investment opportunity. Located within the Deer Springs Town Center power center, this property boasts three contiguous parcels with C-2 zoning, allowing for approximately 200,000 square feet of retail development. The site benefits from high visibility and accessibility, situated near the CC-215 Beltway and North 5th Street, and is adjacent to a thriving shopping center anchored by major national retailers such as Target, Ross, Home Depot, and Burlington. This strategic location serves a robust population of approximately 249,137 within a 5-mile radius, exhibiting an impressive average household income of $100,655. The property's potential is further enhanced by its proximity to significant residential growth projects, including the Villages at Tule Springs Masterplan, which plans over 8,600 homes. An existing 12,000 square foot retail building on the site offers potential rental income of $288,000, providing cash flow during future development phases. The asking price is $12,470,000, with a land value of $17.74 per square foot. The property's APN is 124-23-110-004, 124-23-110-005, and 124-23-210-014. This offering is ideal for developers and investors seeking to capitalize on North Las Vegas's expanding market. The property's location within a high-traffic retail environment, coupled with strong demographics and significant acreage, makes it a compelling investment prospect for various commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $4,600,644

  6.5%

  $4,246,748

  7%

  $3,943,409

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,058,584

  Geo Method

  $6,058,584

• Alternative Use

  Use

  Valuation

  Residential

  $3,582,291

  Hospitality

  $3,281,359

  Educational

  $2,730,052

  Medical

  $2,823,943

  Retail

  $4,246,748

Location Insight

City

North Las Vegas

County

Clark

State

Nevada

Latitude

36.2888

Longitude

-115.131

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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