Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a ±2.49 acre parcel of commercial land located at 9996 South Las Vegas Boulevard, in Las Vegas, Nevada. The parcel sold for $1,600,000.
Dustin R. Alvino, Ray Germain and Brent Barrett, investment specialists in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a family trust.
The subject parcel is located across from the 2,250-room, 26-acre Grandview at Las Vegas Resort, and sits within Clark County’s Resort Corridor, with a planned land use for Commercial Tourist developments. “We used an in-depth marketing approach which resulted in a bidding war with multiple prequalified buyers and top of the market pricing,” states Germain. Alvino adds, “The demand for prime Las Vegas Boulevard addresses like this combined flexible H1 zoning remains strong.”