±5.42 Acres
Fully Entitled Development Project
Rare opportunity to acquire ±5.42 acres with H-1 zoning in the Las Vegas Resort Corridor. Located within the Southern Nevada Opportunity Zone with county approvals in-place for up to 604 Resort Condos.
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Home
the offering
Location overview
Contact
4000 Paradise Road Las Vegas, Nevada
Flamingo Road
Paradise Road
Direct
access to
the Las Vegas Resort Corridor
via Flamingo Road
Market Highlights
Hotel occupancy has increased astronomically since April 2020
Southern Nevada is hosting more than 1 million people per month again
Unemployment has decreased from 34% in April 2020 to February 2021’s 9.3%
Faced with a challenge seemingly more unsurmountable than the Great Recession, Southern Nevada’s hospitality market has responded with spectacular post-lockdown growth. 2021 job numbers show that the Valley’s recovery is on track, both visitor volume and gaming revenue have bounced back since mid-2020 and both new andexisting home sales are exceptionally strong. The re-introduction of conventions will only accelerate this recovery. The smart money is on Las Vegas to exceed expectations in 2021.
Post covid rebound
Taxable sales have largely recovered from their 2020 slump
Strategically located with quick access to McCarran International Airport, the Las Vegas Strip, UNLV, and the Las Vegas Convention Center. The neighborhood features parks, premier retail and dining and easy access to public bus transportation, With great city views, premium amenities within the surrounding area.
LOCATION OVERView
Property Address
4000 Paradise Road
Price Per Acre
$2,380,000 per acre
Acreage
±5.42 Acres
Current Entitlements
604 Units
Zoning
H-1
APNs
162-15-416-001,
162-15-416-002,
162-15-496-002
An ideal development site for:
APARTMENT
CONDOMINIUM
HOTEL
TIMESHARE
Las Vegas Convention Center
1.0 Mile
Fashion Show Mall
1.5 Miles
University of Nevada Las Vegas
1.5 Miles
T-Mobile Arena
2.2 Miles
McCarran International Airport
3 Miles
Allegiant Stadium Home of the Las Vegas Raiders
3.5 Miles
Downtown Las Vegas
4.2 Miles
Flamingo Road
Paradise Road
Sands Avenue
Koval Lane
Residential
Hughes Center
MSG Sphere at
The Venetian
under construction
Fully entitled
for development potential
This site offers great
exposure to the growing Las Vegas
Resort Corridor.
Approval of 85’ height provides
elevated views of the Las Vegas Strip.
The property is currently entitled for 604 units and represents a remarkable blank canvass for development of residential or hotel. This location is perfectly situated between the Las Vegas Strip, the Las Vegas Convention Center and McCarran International Airport. It offers amazing views of the Strip and excellent access to a host of area amenities.
One example of a market-ready development plan is shown here. This proposed project consists of 332 apartment units and consists of wood-frame construction. Rising to 85 feet, there are 5 floors over a concrete podium with a mix of studios, one-bedroom and two-bedroom units. This proposed project incorporates a resort style pool deck with an amazing view deck.
Reputable construction cost estimates for this project are around $200,000 per unit (excluding land). Prices for newly completed apartment projects are closer to $300,000 per unit.
$8 Billion Invested
Multiple new development activity surrounds the site. Including, the 1.4 million SF Las Vegas Convention Center expansion project to the North, Genting’s Resorts World Project and the MSG Sphere to the West. Less than 1 mile South, the newly opened Virgin Hotels is within walking distance to the site.
Unlike other major urban centers, Clark County does not have “floor-area” restrictions that establish a maximum number of buildable square feet. The site lends itself to a variety of uses permitted under the existing zoning.
Mike J. Mixer, SIOR
Chairman, Colliers Las Vegas
+1 702 836 3777
mike.mixer@colliers.com
License # NV-B.0021557
www.colliers.com/lasvegas
Copyright © 2024 Colliers
±5.42 Acres - 4000 Paradise Road, Las Vegas NV
The offering
Rare opportunity to acquire ±5.42 acres in the Las Vegas Resort Corridor. Located within the Southern Nevada Opportunity Zone.
Providing preferential tax treatment to investors and developers who invest and develop within the zones. Certified by the Secretary of the U.S. Treasury
Located within the Southern Nevada Opportunity Zone.
±5.42 Total Acres
H-1 Zoning, best zoning in Las Vegas
Existing county approvals in-place for 604 Resort Condos
Less than 1 mile away from the Las Vegas Convention Center
4000 Paradise Road
Price Per Acre
$2,380,000 per acre
Acreage
±5.42 Acres
Current Entitlements
604 Units
Zoning
H-1
APNs
162-15-416-001,
162-15-416-002,
162-15-496-002
buyers broker fee offered
Price:
$12,900,000
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