Simply stated, the assembled value of smaller properties is often greater than the value if sold individually.
Although a property may be located in a high-demand market area, small parcels are undesirable for developers.
Developers require larger development sites to benefit from the economies of scale. They will often reject sites that are less than 5 acres and pay a premium for those that are 7.5 acres or greater.
There are very few sites with common ownership that meet this criteria. Consequently, high-demand development sites must be created by assembling multiple parcels with cooperating landowners.
When you create critical mass, you create value.
Larger sites allow homebuilders to spread the fixed costs of development over more homes, considerably reducing the cost per unit. When homebuilders save money, they can pay more for land while still increasing their profit.
Our proven strategy of a Multiple Property AllianceSM significantly benefits the landowners, as well as the homebuilders.
We welcome the opportunity to discuss your participation in a Multiple Property AllianceSM and provide you with a Broker Price Opinion. This document includes a market analysis and an independent opinion of value.
Contact Bill Lenhart, Founder & CEO, to indicate your interest –
[email protected], or by phone at 702-900-7408.
Most properties met the minimum bid requirements and were ultimately sold to the highest bidder. 133 acres were sold for a total of $100 million, averaging a price of $757,000 per acre.
The bidding activity at the auction exceeded our expectations. Despite the recent economic uncertainty, the results of the land auction are evidence of continued strong land values in Las Vegas.
How is COVID-19 Affecting the Las Vegas Land Market? 2020 Land Auction Results
Who knew that the Clark County Aviation Property Auction would be an extraordinary market timer?
The department recently finished a surplus vacant land auction, including 157 acres of property valued at $71.3 million, spread across 16 lots. Of the lots sold, nearly all of them sold at, or well above, their projected market value. Read More