1775 Nellis BlvdLas Vegas, NV 89115

Property Details for 1775 Nellis Blvd

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.71 AC

Property size (Sq ft)

2,322 SF

Property type

Office buildings

APN

140-20-802-010

APU

14020802010

Description

This exceptional 0.96-acre commercial property in Las Vegas, Nevada, is ideally situated on North Nellis Boulevard, a high-traffic area with approximately 36,000 vehicles passing daily, ensuring excellent visibility and exposure. The property includes two buildings totaling 3,924 square feet on a lot zoned CG (Commercial General). One building is a 1,624 square foot auto repair shop featuring two roll-up doors, a fully fenced and gated yard, and outdoor lift capabilities. The second building is a 2,300 square foot retail/office building divided into three individual suites, each with separate metering. The property also benefits from a grandfathered-in auto sales license. Built in 2008, this vacant property offers significant potential for various commercial uses, including additional retail spaces or fast-food establishments. The asking price is $1,999,999, translating to $509.68 per square foot. The property's address is 1775 N Nellis Blvd, Las Vegas, NV 89115, with APN numbers 14020802010 and 14020802005. The property is currently vacant and available for occupancy on May 1, 2024. This prime location presents a unique opportunity for owner-users or investors seeking a high-visibility commercial property in a thriving Las Vegas market.

• CAP approach

  CAP return

  Valuation

  6%

  $547,919

  6.5%

  $505,771

  7%

  $469,645

• Comparable approach

  Method

  Valuation

  Relative Method

  $465,213

  Geo Method

  $465,213

• Alternative Use

  Use

  Valuation

  Residential

  $627,157

  Hospitality

  $574,472

  Educational

  $477,954

  Medical

  $494,392

  Retail

  $743,484

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1922

Longitude

-115.063

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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