For Sale
$3,937,000

601 Llano Estacado BlvdClovis, NM 88101

High-yield, two-tenant shopping center.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 20,535 square foot, two-tenant retail shopping center in Clovis, New Mexico, boasting a strong 8.75% cap rate and a substantial net operating income (NOI) of $344,412. Built in 2017, the property sits on a 2.34-acre lot and enjoys 100% occupancy with a Planet Fitness and Cheech & Chong's Dispensoria as tenants. The property benefits from a highly visible location at 601 E Llano Estacado Blvd, near the signalized intersection of Llano Estacado Boulevard & Prince Street, experiencing a combined daily traffic count of 27,549 vehicles. Its strategic location near major retailers such as Walmart, Lowe's, and numerous restaurants ensures high traffic and visibility. The property also benefits from its proximity to Cannon Air Force Base (a major employer in Clovis), Hillcrest Park Zoo, and Clovis Regional Airport, further enhancing its appeal and potential for growth. Scheduled rent bumps are included in the initial lease term and option periods for both tenants, providing a secure and appreciating investment. This net lease (NN+) property is offered at $3,937,000 and is suitable for a 1031 exchange. The property's strong tenant base, high visibility, and strategic location make it an attractive investment opportunity with significant long-term potential.

Highlights

  • High visibility and accessibility with 27,549 VPD at the signalized intersection of Llano Estacado Blvd & Prince St.
  • Prominent location near major retailers including Walmart, Lowe's, and numerous restaurants.
  • Three miles from US Route 60 (14,591 AADT).
  • Central location between Amarillo and Albuquerque, capturing significant local and commuter traffic.
  • Excellent proximity to Cannon Air Force Base (major employer).
  • 2.5 miles from Hillcrest Park Zoo (50,000 annual visitors) and seven miles from Clovis Regional Airport (14,000 enplanements in 2023).

Property Details for 601 Llano Estacado Blvd

Property type
Lifestyle centers, Power centers
Square Feet
20,535 SF
Year Built
2017
Lot Size (sq. ft)
101,930 SF

Location Insight

City
Clovis
County
Curry
State
New Mexico
Latitude
34.4336977
Longitude
-103.1960788
601 Llano Estacado Blvd, Clovis, New Mexico

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601 Llano Estacado Blvd
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