Las Vegas Commercial Real Estate

John Vanhara

There is more and more listings for land available for building highrise condos. As some of the projects will not go through we are suddenly seeing the listings with land for sale. Here one of these listed by RE/MAX Central. John & Ruth Ahlbrand listing text:

“Status: AVAILABLE ……………….
Zoned for High Rise Condominiums -
Panoramic Views of the Strip and Mountains.
Design for the first 5 floors to be a parking garage giving unobstructed views.
Total acreage is 5.6.
Asking price: $43,500,000.”

My personal opinion is that the price would have to go down. If builders are seeing week demand and cancelling projects it would be very hard to get premium on land deal.

This entry was posted on Tuesday, January 24th, 2006 at 7:20 am and is filed under Land. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.