601 Llano Estacado BlvdClovis, NM 88101

Property Details for 601 Llano Estacado Blvd

Year built

2017

Lot size

2.34 AC

Property size (Sq ft)

20,535 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

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.

Location Insight

City

Clovis

County

Curry

State

New Mexico

Latitude

34.4337

Longitude

-103.196

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