las vegas, nevada 89131 +/-18 acres of land for sale · for sale $ 4,440,000 antone j. brazill,...

FOR SALE$ 4,440,000

Antone J. Brazill, CCIMSenior VP Multifamily I Land

Main: 702 534 1715Direct: 702 278 3886

[email protected]

8945 W. Russell Rd., Suite 110, Las Vegas, NV 89148

215I-95

Subject Property

8050 Flanagan DriveLas Vegas, Nevada 89131

+/-18 Acres of Land for Sale


Executive Summary

Offering Summary Property Highlights

• +/- 18 Acres with five 4,150 SF single family residen-cies, built as a group homes. Interior road can be va-cated and homes can be demolished to increase net acreage to 18.35.

• Cellular tower currently grossing $88,512 in estimated income.

• Property could be sold as a group home facility or to a residential builder for new homes.

Sale Price 4.9 MM

Price / Acre 272,222

Lot Size +/- 18 Acres

Zoning R-E - 2 Units per Acre

APN 125-11-401-001125-11-401-002

Anthony Saville Middle School

5.61 Acres

11.18Acres

APN 125-11-401-002Vacant Land

APN 125-11-401-002Group Homes

Cellular Tower Site


Survey

Potential Site Plan

Britton-Adamo Group/ROI Appraisal File Number: 17-069 41

The vacant land surrounding the 5 homes can accommodate additional single family lots. Based on the requirements for lot development that satisfies the R-E zone and building setback requirements, a development plan that includes 18 additional single family residential lots could be subdivided from the vacant land at the subject. Each potential lot is estimated to have a land value of $100,000, or $1,800,000. The layout of the lots is a hypothetical scenario and does not constitute a plan that can be implemented with any certainty. The lot plan was performed to provide an estimate of the number of additional lots that could be developed. It is suggested that the client obtain the services of a civil engineer to provide a more accurate plan to maximize the potential lots on the subject. For the purposes of this appraisal, it is estimated that approximately 18 additional lots are possible on the subject site. The 18 additional lots are indicated by a red star on the site plan below.

Therefore, the estimated value of the subject property, assuming the renovation of the 5 group homes and development of the remaining vacant land on the subject is calculated as follows. Value of Group Homes $1,476,250 Value of Additional Lots $1,800,000 $3,276,250 Rounded to: $3,280,000 The resulting value estimated of the two development scenarios for the subject property, with the existing improvements, are as follows. Demolish Existing Improvements $3,840,000 Renovate Existing Improvements $3,280,000


Sales Comparables

1

S

3

4

2

Address 8410 N Jones Blvd. SWC Azure Dr. and Torrey Pines Dr.

SEC N Tenaya Way and Elkhorn Rd.

N side Deer Springs Way at Rebecca Rd.

APN 125-12-202-001 125-26-203-002, 003 & 004

125-22-501-001 125-23-201-017

Date of Sale 5/21/2015 10/4/2016 1/3/2017 1/3/2017

Price $6,150,000 $1,278,900 $8,775,000 $2,238,250

Price per Acre $307,500 $170,520 $219,375 $175,000

Zoning R-1 R-E R-D R-E

Size 20.0 acres 7.5 Acres 40.0 acres 12.79 acres

21 3 4


Current Listings

S

Address N Side of Elkhorn Dr., E ofRainbow Blvd.

SWC Farm Rd. &Sisk Rd.

APN 125-14-401-006, 007125-14-405-002

125-14-302-008

Price per Acre $276,666 $299,000

Price $4,150,000 $1,495,000

Zoning R-E R-E

Size 15 Acres 5 Acres

21

1

2


Britton-Adamo Group/ROI Appraisal 1 File Number 17-017

Group Homes


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Antone J. Brazill, CCIMService SpecialtyMultifamily I Land

Professional Affiliations &DesignationsCCIM

Background & Experience

Antone Brazill’s real estate career began as a six-year-old holding a survey stick for his father at a development site. The experience in the family real estate business molded his conservative yet ag-gressive approach to the industry today.

Mr. Brazill has consulted for two Fortune 100 companies where he’s achieved President’s Club awards several years in a row. In 2002, he moved to Las Vegas where he concentrated his efforts in the residential and commercial market at national and global companies. Over the course of his career he’s earned several top sales volume awards. Mr. Brazill has also studied various disciplines of investment real estate including multifamily, land, office, retail, industrial, residential and develop-ment. His real estate designations include Certified Commercial Investment Member (CCIM), CRS, ABR and CLHMS.

The CCIM designation denotes that the member has completed advanced coursework in financial and market analysis as well as demonstrated extensive experience in the commercial real estate industry. CCIM designees are recognized as leading experts in commercial investment real estate.

Brazill’s volume has exceeded over $1 Billion in acquisitions and dispositions including facilitating a $110 million 1031 exchange of multifamily units in 2012.

The Brazill family are past and or present board members of Help of Southern Nevada and Grant a gift Autism

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las vegas, nevada 89131 +/-18 acres of land for sale · for sale $ 4,440,000 antone j. brazill,...

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