1020 Rancho DrLas Vegas, NV 89106

Property Details for 1020 Rancho Dr

Year built

2003

Construction

STEEL FRAME

Lot size

0.58 AC

Property size (Sq ft)

3,241 SF

Property type

Turn key restaurants

APN

139-29-201-006

APU

13929201006

Description

This exceptional 0.58-acre commercial land parcel, located at 1020 N. Rancho Dr. in Las Vegas, NV 89106 (APN 139-29-201-006), presents a unique development opportunity. Zoned C-2, the property boasts a convenient single-tenant configuration and is ideally situated at the main entrance of Twin Lakes Plaza, ensuring excellent ingress and egress. All utilities are stubbed, and off-site improvements are complete, including a finished drive-thru lane. The site is ready for immediate development, with ownership open to creative building concepts, such as modified shipping containers. This mature trade area benefits from stable traffic and density, and is experiencing significant reinvestment from both public and private sectors. A noteworthy development, encompassing approximately 73 acres of mixed-use commercial, recreational, hotel, retail, restaurant, and multifamily properties, is underway just one mile north, further enhancing the area's appeal and future growth potential. This presents a compelling investment opportunity in a thriving Las Vegas location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,018,032

  6.5%

  $939,722

  7%

  $872,599

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,636,322

  Geo Method

  $1,636,322

• Alternative Use

  Use

  Valuation

  Residential

  $792,691

  Hospitality

  $726,100

  Educational

  $604,107

  Medical

  $624,883

  Retail

  $939,722

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1828

Longitude

-115.18

CBSA code

29820

CBSA name

LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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