BLM sells 100-plus acres in Las Vegas area for nearly $70M

The federal government sold more than 100 acres of land in Southern Nevada for nearly $70 million through a recent auction.

The Bureau of Land Management announced Friday that it sold 13 parcels totaling 108 acres in the Las Vegas Valley for roughly $68.6 million.

BLM Acting Director Bill Groffy said in the news release that the online sale generated nearly $16 million above fair market value.

In general, homebuilders, land flippers and other real estate investors often buy land in Southern Nevada through BLM auctions.

The agency had proposed selling 22 parcels totaling 233 acres in the valley. According to a news release in February, nine parcels were in unincorporated Clark County, seven were in Las Vegas city limits, and six were in Henderson.

The auction was held April 28-29.

Several parcels were apparently canceled from the auction, the results show. Ultimately, 145 acres were available for purchase, said a BLM spokesperson.

In accordance with the Southern Nevada Public Land Management Act, 85 percent of the sales proceeds will go to projects throughout the state, including parks, trails, and acquisition of environmentally sensitive land, the BLM said.

Another 5 percent will go to the state of Nevada for education, and 10 percent is for the Southern Nevada Water Authority.