City of Mesquite Recently Purchased Land for New Library Mesquite Nevada Commercial Real Estate Market, information every investor should know. The City of Mesquite just closed on a prime parcel of land on Mesquite Blvd to build a new library.
The City of Mesquite could use a nice new shiny library with all the bells and whistles. They paid $1,717,000 for 3.22 acres, that is 140,263 square feet or $12.24 per square foot. So much for the $20 a foot the market has been asking for years for Mesquite Blvd frontage.
Reports are no appraisal was required by the buyer, the City of Mesquite.
Who spends nearly two million tax dollars without the benefit of a professional opinion of value? I am surprised The City of Mesquite can even do that legally.
There is one more commercial land sale to report in the past twelve months through MLS. It was a quarter acre sold for $92,500 or $8.85 a square foot, located on Hafen just south of the Maverik the gas station. This sale was nice street frontage and would have been used as a comparable in my opinion.
Not only are the City of Mesquite elected officials out of control, so is the city manager, who played down any need for a professional second opinion of value.
What the heck, it is just our tax dollars they are spending anyway, RIGHT?
Chris W. Miller
ERA Brokers Consolidated
Mesquite NV 89027