Las Vegas Land Appraisals

While vacant land appraisals only require a sales approach analysis, reports of this type are difficult to complete accurately due to the number of sources that must be researched and the price variability that often exists in the vacant land market due to differences in factors like; location, planned use, size, shape, accessibility, off-site improvements (like roadways and utility services), traffic count, orientation, hard zoning, approved zoning, zoning overlays, topography, soils, easements / rights-of-way, adjoining uses and deed restrictions.

The highest and best use analysis performed in a land appraisal generally attempts to indicate to the owner / client which use or uses will provide the highest return to the land.  At times, development for a residential or commercial purpose may appear to be the highest and best use.  When the economy is in a slow-down, or when infrastructure improvements are distant from the appraised land, holding the parcel for future development may be its highest and best use.

Each parcel of land located in Clark County falls into its own "jurisdiction."  Each jurisdiction within the County has its own planning documents / maps and zoning ordinance.  A good source that provides access to planning documents and planning maps is the Clark County Comprehensive Planning Internet site.  The Clark County Openweb Informapper Internet site provides aerial maps, zoning maps and related property information by parcel number or address.  The market for vacant land can be flat with little activity for long periods of time, or it can be

The long-term prospects for the Las Vegas vacant land market, like those of the other Las Vegas commercial markets, is considered by many to be good even though we have suffered an extended downturn.  Current land sales (in late 2013) have, however, required significant discounts since investment buyers have all but evaporated from the scene.  Land owners who can have withdrawn their properties from the market.  Many owners have expressed the opinion that 2014 will continue this trend not the time to sell land if it can be held until demand is restored.  If you would like to read more regarding the Las Vegas land market, see the article at Appraisal Articles.     

Contact us with your questions or concerns regarding land appraisals or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net.         

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.