Mixed Use Development (MUD)

Some buildings profitably combine multiple uses, and they are called "mixed-use" buildings or "mixed-use" developments.  An exceptional example of a mixed use development in metropolitan Las Vegas is the combined retail / residential use noted at "The District" at Green Valley Ranch Casino & Hotel.  This development effectively copies the similar retail / residential mixed-use found in many small, 2 to 5 story, downtown buildings located in small mid-western towns. 

In Nevada mixed-use developments are also prevalent in our many hotel / casinos that can mix; a hotel use, a casino use, fast foot courts, a multiplex cinema, a bowling alley, high-end restaurants, night clubs, large retail malls and the list goes on and on.

Properties within the Clark County zoning jurisdictional area have been reviewed and planned for possible mixed-use development as detailed in their Mixed-Use Development Overlay map.  Please note that this is a relatively large map that takes time to download, especially if you are using a phone/modem connection.  Mixed-use developments usually require special zoning since, for example, home owners in single-family developments do not want uses inconsistent with their residential neighborhood.

The appraisal of mixed-use developments presents special challenges for appraisers.  Each use must be analyzed separately and brought together in the appraisal report.  Usually there are few similar mixed-used development sales for comparison in the sales approach, and emphasis is placed on income production.  In some cases, the development can be turned from one property into several via condominium development.   

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

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