Development Land - For Sale - I-15 and S. Las Vegas Blvd

12797 S Las Vegas Blvd, Las Vegas, NV

$8,700,000

Price

10 acres

Lot Area

 
Overview
Lot Area
10 acres
Description

This 10 acre portfolio - is a perfect location for a resort-type development project (two separate parcels) zoned: Limited Resort and Apartment (H-1)). Utilities not directly on the parcels; however, estimated to be within 1,000 feet of the subject property. A "highest & best use study" was professionally performed for this project and suggested a condo project or a hotel. These parcels could be built as high as 15 to 16 stories (approximately 196 Ft tall) without FAA approval, higher with FAA approval.

Two vacant parcels of land, located along Las Vegas Blvd South. directly east of Interstate-15 at the St. Rose Parkway exit. Take the exit and travel east to Las Vegas Blvd South (first traffic light). Travel south on Las Vegas Blvd, less than 1/4 mile and the parcels will be on your right and left (west and east), one parcel block past W Welpman Way..

Title 30 Development Code, the Clark County Nevada Code related to land use, zoning and development – further clarifies H-1 zoning in: 30.40.320 Limited Resort and Apartment District. a. Purpose. The H-1 Limited Resort and Apartment District is established to provide for the development of gaming enterprises, compatible commercial, and mixed commercial and residential uses, and to prohibit the development of incompatible uses that are detrimental to gaming enterprises. b. Designation as Gaming Enterprise District. The H-1 Limited Resort and Apartment District per Chapter 463 of the Nevada Revised Statutes, is designated as the Gaming Enterprise District as shown on the Gaming Enterprise Map in Appendix G. A special use permit for a resort hotel approved in accordance with Tables within the code establishes the ability to have live gaming. Applications to expand the Gaming Enterprise District shall not be accepted for property within 500 feet of residential development or 1,500 feet of a school or church. (Ord. 4109 § 2 (part), 7/2013)

Highlights
  • Zoned = Limited Resort and Apartment (H-1)
  • 2 Parcels = each 5 gross acres, for total 10 acres
  • 2 Billboards on the property with additional monthly revenue
  • Owner financing available for qualified buyers with 30% down
  • Pre-project work completed: Alta survey, record of survey, entitlement drawing package, land environmental test, height survey, and more (details available by request)

Location
Gallery