This exceptional investment opportunity presents two adjacent properties totaling 7,405 square feet, available individually or as a package. Located at 530 S 7th St, Las Vegas, NV 89101, this prime downtown location benefits from a recent mixed-use zoning change, unlocking significant potential. The main property, a 2,954 square foot, single-story Class B creative office building, boasts a recent 2024 renovation, including new flooring, paint, bathrooms, and kitchen spaces, along with a new roof. It's currently vacant and ready for immediate occupancy. The building sits on a 7,405 square foot lot and features one unit within two buildings. The property's APN is 139-34-710-020. The adjacent property (sold separately or as part of a package deal) is also newly renovated. This strategic location is directly behind the Writers Block/Beverly Center and benefits from a nearby large parking structure. The asking price for this property is $999,000, while the combined package price for both properties is $1,650,000. This presents a unique chance to capitalize on the growth and revitalization of downtown Las Vegas. The year built is 1939. This is a prime opportunity for investors seeking a versatile and well-located asset in a rapidly developing area.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$697,051
6.5%
$643,432
7%
$597,472
Comparable approach
Method
Valuation
Relative Method
$591,834
Geo Method
$591,834
Alternative Use
Use
Valuation
Residential
$797,856
Hospitality
$730,831
Educational
$608,043
Medical
$628,955
Retail
$945,845
Location Insight
City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1627
Longitude
-115.142
CBSA code
29820
CBSA name
LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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