Investment Overview

The Subject Property, 16805 & 16955 Mount Rose Highway, consists of two adjacent parcels totaling 2.33 acre(s). The offering is raw land, with all utilities nearby on immediately adjacent parcels. This site is one of the very few commercial properties along Mount Rose Highway, and is well suited for a variety of uses that can serve the ~10,500 cars per day that pass the property. The two parcels can be sold separately, though it is the owner’s preference that they be sold together. This Property is located in an extremely affluent submarket, with average household incomes exceeding $212,000 in a one-mile radius. The site is located just a couple minutes away from the high-end golf community “Montreaux”, where average home prices exceed $2.5MM. In addition, it has great visibility along Mount Rose Highway, where the traffic largely consists of both locals and tourists on their way to and from Mount Rose Ski resort, Lake Tahoe, and other destinations that are only a few miles away. The existing zoning is Neighborhood Commercial, which allows for a variety of commercial uses and low-to-medium density residential. Nearby uses include a coffee and wine bar, medical office, professional office, a sporting goods retailer, and residential. Developable land for commercial uses is incredibly difficult to find in this submarket. Much of the land between this site and Lake Tahoe is a mix of national forest and wilderness, and of the few private parcels mixed in, many have steep topography that makes development cost prohibitive. Offered at $1,900,000, or just over $18.70 per square foot, this property provides an investor a hard-to-find parcel of land in an extremely affluent submarket.