Significant Land Sale in Las Vegas Valley Surpasses Market Expectations
The Bureau of Land Management (BLM) recently concluded a noteworthy online auction under the auspices of the Southern Nevada Public Land Management Act, offering a substantial 76.85 acres in the Las Vegas Valley. This auction presented 10 parcels with an estimated market worth of $32,635,000. Impressively, the sale of eight parcels covering 41.85 acres amassed $16,575,000, surpassing their fair market value by $1,240,000.
This land sale aligns with the Southern Nevada Public Land Management Act, which enables the BLM to sell public lands within a specified congressional boundary in Las Vegas Valley. A significant 85% of the proceeds from this sale are earmarked for various Nevada projects, including park and trail development, federal land enhancements, and environmental conservation efforts. Additionally, the State of Nevada benefits with a 5% share for educational purposes, while the Southern Nevada Water Authority receives 10% of the revenue.
The process of determining parcels available for sale involves collaboration between local governments and the BLM. Prospective buyers must first propose a parcel to the local government for approval. If sanctioned, the parcel is then nominated to the BLM to verify its eligibility for sale. Notably, all parcels suggested for sale by local governments have either been offered or are in the pipeline for future sales.
During the auction, parcels ranging from 2.5 to 25 acres were made available. Successful bidders are required to pay 20% of their bid by 4 p.m. Pacific today, with the balance due by September 15, 2025. Unsold parcels will potentially be re-auctioned at future events. For further details, visit EnergyNet.
Overview of Successful Bids
| Location | Size | Fair Market Value | Purchase Price | Successful Bidder | Parcel Number |
|---|---|---|---|---|---|
| SW corner of W La Madre Way & N Fort Apache Rd | 10 acres | $4,250,000 | No bid | No bid | NVNV105860623 |
| E of S Rainbow Blvd & N Gomer | 2.5 acres | $1,300,000 | $1,520,000 | Haikal Exemption Trust | NVNV105860656 |
| NW corner of Roban Ave & S Las Vegas Blvd | 2.5 acres | $1,045,000 | $1,715,000 | Haikal Exemption Trust | NVNV106273420 |
| E of Hwy 95 along Sun Village Park Dr & Kyle Canyon Rd | 12.5 acres | $3,700,000 | $3,700,000 | Elite Excavating | NVNV106334782 |
| Blue Diamond Rd between S Grand Canyon Dr & Hualapai Way | 6.85 acres | $2,520,000 | $2,630,000 | Hamid (Henry) Moradi | NVNV106334784 |
| E of S Racetrack between Burkholder Blvd & Venice Ave | 5 acres | $2,000,000 | $2,000,000 | Beazer Homes | NVNV106334786 |
| E of S Racetrack between Burkholder Blvd and Venice Ave. | 5 acres | $1,700,000 | $1,700,000 | Beazer Homes | NVNV106334788 |
| N of Blue Diamond Rd along S Buffalo Dr & W Cougar Ave | 2.5 acres | $1,000,000 | $1,240,000 | Khusrow Roohani | NVNV106334789 |
| E of 215, corner of W Azure & N Hualapai Way | 5 acres | $2,070,000 | $2,070,000 | Haikal Exemption Trust | NVNV106334791 |
| E of 215, northern border is W Centennial | 25 acres | $13,050,000 | No bid | No bid | NVNV106334792 |
For more details on the auction and future sales, potential investors can visit the EnergyNet website.
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