For Sale
$1,655,000

1498 Silver Heights BlvdSilver City, NM 88061

High-yield retail center, 96% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 29,260 square foot shopping center in Silver City, New Mexico, boasting a strong 9.00% capitalization rate and a Net Operating Income (NOI) of $148,807. The property, built in 1970 and situated on a 2.076-acre lot at 1498 Silver Heights Blvd (zip code 88061), features six tenants, with 96% occupancy. Over 85% of the gross leasable area (GLA) is leased to nationally recognized, internet-resistant retailers, ensuring a stable income stream. The property benefits from a complementary tenant mix and prominent pylon signage. Recent improvements include a new roof (90% of the building in 2023) and interior remodeling. The strategic location at the intersection of two major highways sees over 18,000 vehicles daily. Its proximity to Western New Mexico University (over 3,500 students) and numerous national retailers (including Walmart, Ace Hardware, Albertsons, and more) further enhances its appeal. The asking price is $1,655,000, representing a price per square foot well below replacement cost. This is a compelling opportunity for investors seeking a stable, high-yielding retail investment in a thriving New Mexico market.

Highlights

  • 96% Occupancy.
  • 29,260 square foot neighborhood shopping center, recently remodeled.
  • Over 85% of gross leasable area (GLA) leased to national retailers.
  • Strong tenant mix with internet-resistant businesses; attractive 8.5% going-in cap rate.
  • Priced at $60/SF, significantly below replacement cost.
  • Prominent pylon signage.

Property Details for 1498 Silver Heights Blvd

Property type
Lifestyle centers, Power centers
Square Feet
29,260 SF
Year Built
1970
Lot Size (sq. ft)
90,431 SF

Location Insight

City
Silver City
County
Grant
State
New Mexico
Latitude
32.7806213
Longitude
-108.2750788
1498 Silver Heights Blvd, Silver City, New Mexico

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1498 Silver Heights Blvd
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