UNLV Lists 10.2-Acre Parcel Near Las Vegas Strip for $39.9 Million

The University of Nevada, Las Vegas (UNLV) is seeking roughly $39.9 million for a vacant 10.2-acre property located at the southeast corner of Tropicana Avenue and University Center Drive. The site lies about 1.5 miles east of the Las Vegas Strip and directly across from the Thomas & Mack Center. It previously hosted the university’s Paradise Campus.

The former campus included six buildings, four of which dated to 1949. UNLV demolished the structures in spring 2024 after determining they were obsolete and too costly to maintain. The land was once home to Paradise Elementary School before becoming part of the university.

Development Potential and Site Restrictions

UNLV has stated the parcel could support mixed-use or hospitality developments. The current asking price values the land at nearly $4 million per acre. David Frommer, UNLV’s associate vice president of planning, construction and real estate, said the figure is based on appraised values.

Frommer added that any sale would require approval from the Nevada System of Higher Education Board of Regents. The board may consider legitimate offers below the appraised value. However, the site’s location just east of the runways at Harry Reid International Airport triggers Federal Aviation Administration height limits, airport-compatible development requirements, and additional land-use restrictions.

Prior Negotiations and Current Status

UNLV had earlier considered selling the full property to the Clark County Department of Aviation. Appraisals from that period valued the site between $9.5 million and $13.3 million. The aviation department instead purchased another property south of the airport.

The university also held discussions with The Boring Co. concerning a 2.35-acre section appraised at close to $8.2 million. Those talks ended after the company obtained approval for a station on the western edge of the UNLV campus. As reported by GamblingNews, UNLV holds no formal commitments for the land at present.

Prospective buyers face a narrow path shaped by these accumulated regulatory and valuation factors. Any successful transaction will turn on alignment with airport rules and board expectations rather than price alone.

Reporting: GamblingNews

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