1620 Prince StClovis, NM 88101
- Retail properties
- 9,530 SF
Property Details for 1620 Prince St
- Year built
- 1992
- Lot size
- 0.34 AC
- Property size (Sq ft)
- 9,530 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a 9,530 square foot, single-tenant, absolute NNN leased storefront located at 1620 N Prince St, Clovis, NM 88101. The property, built in 1992 and situated on a 0.344-acre lot, boasts a strong 7.00% cap rate and a low price per square foot of $67.01, totaling $638,650. The property features a corporate guarantee from Aaron's Company, Inc. (NYSE: AAN), providing significant investment security. The current lease, commencing August 30, 2004, has a remaining term of approximately 5 years, expiring November 29, 2029, with two 5-year renewal options at a 10% rent increase each. The property benefits from high visibility on Clovis's main retail corridor, experiencing 18,343 vehicles per day. The tenant, Aaron's, has occupied the space since 2005, demonstrating a long-term commitment to the location. The Net Operating Income (NOI) is $44,699. This Class C property offers a secure, low-maintenance investment with a strong tenant and excellent location within a growing market served by major employers including Cannon Air Force Base and Lockheed Martin. The average household income within a one-mile radius is $64,679, projected to increase by 13.63% in the next five years. This is an ideal opportunity for investors seeking a stable, triple-net lease investment with significant upside potential.
Location Insight
- City
- Clovis
- County
- Curry
- State
- New Mexico
- Latitude
- 34.4148
- Longitude
- -103.197
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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