1561 Commerce StLas Vegas, NV 89102

Property Details for 1561 Commerce St

Lot size

0.45 AC

Property type

Industrial land

APN

162-03-201-004

APU

16203201004

Description

This exceptional commercial property, located in the vibrant Downtown Las Vegas Arts District, offers 5,250 square feet of vacant retail space in a newly planned ground-up development. The property consists of eight stand-alone buildings, each designed to resemble a container but constructed from structural steel for maximized interior space. Units range from a minimum of 300 square feet to a maximum contiguous space of 2,250 square feet, catering to a variety of business needs. The development features a shared common area building with restrooms, eliminating the need for individual tenant bathrooms. A comprehensive umbrella liquor license covers the entire project. The location boasts prime frontage on a main street, directly across from Atomic Golf, and benefits from abundant parking. Attractive tenant improvement allowances and competitive lease terms are available. The development includes string lights, an activated alley with live music and communal seating, fostering a vibrant atmosphere. Its proximity to Brewery Row, casinos, downtown events, and major freeways (I-15 and I-215) and Harry Reid International Airport ensures excellent accessibility. The 0.45-acre lot is zoned Commercial/Industrial (C-M), with the Clark County APN 162-03-201-004. This development presents a unique opportunity to establish a business in a thriving, high-traffic area with a strong sense of community. The property is ideal for a diverse mix of food and beverage concepts, taking advantage of the calendar of weekly and monthly events, including farmers markets and music festivals.

• CAP approach

  CAP return

  Valuation

  6%

  $10,112,300

  6.5%

  $9,334,410

  7%

  $8,667,660

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,283,620

  Geo Method

  $6,283,620

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $4,824,290

  Mixed-Use / Specialty

  $4,836,770

  Hospitality / Lodging

  $3,587,220

  Office

  $4,838,940

  Institutional / Educational

  $5,038,890

  Residential Income

  $5,895,510

  Multifamily

  $6,906,250

  Automotive / Energy

  $4,319,050

  Parking / Income-Based Land

  $1,461,140

  Restaurant / Food Service

  $2,578,970

  Healthcare / Senior Housing

  $4,929,580

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1526

Longitude

-115.155

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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