For Sale
$4,069,915

2350 Lohman AveLas Cruces, NM 88001

Las Cruces, NM: High-yield, 20-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple, 22,991 square foot Big Lots convenience and grocery store in Las Cruces, New Mexico. Located at 2350 E Lohman Ave, 88001, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), providing significant long-term stability and income generation. The lease features a 2% annual rent increase, ensuring consistent NOI growth. The property sits on an 82,218 square foot lot, offering potential for future development. Currently operating at 100% occupancy, the property generates a substantial NOI of $254,370, representing a 6.25% cap rate on the asking price of $4,069,915 ($177.02/sq ft). The property is offered as a 1031 exchange opportunity and is free and clear of financing. The strong demographic profile of the area, with a high average household income within a 5-mile radius, further enhances the investment's appeal. This asset presents a compelling combination of secure income, growth potential, and a prime location within a thriving retail market. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval.

Highlights

  • Fee-simple ownership of a 22,991 square foot Big Lots store in Las Cruces, NM.
  • 20-year absolute NNN lease with corporate guarantee from Big Lots, Inc. (NYSE: BIG), including a 2% annual rent increase.
  • Property generates a $254,370 NOI, representing a 6.25% cap rate on the $4,069,915 asking price ($177.02/sq ft).
  • Situated on an 82,218 square foot lot, offering potential for future development.
  • Currently 100% occupied and offered as a 1031 exchange opportunity, free and clear of financing.

Property Details for 2350 Lohman Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
22,991 SF

Location Insight

City
Las Cruces
County
Doña Ana
State
New Mexico
Latitude
32.3120229
Longitude
-106.7486202
2350 Lohman Ave, Las Cruces, New Mexico

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2350 Lohman Ave
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