2900 Telshor BlvdLas Cruces, NM 88011

Property Details for 2900 Telshor Blvd

Year built

1996

Construction

FRAME

Lot size

1.07 AC

Property size (Sq ft)

5,205 SF

Zone code

M1C

Property type

Retail properties

Property subtype

Turn key restaurants

APN

4-008-132-142-273

APU

4008132142273

Description

This exceptional investment opportunity presents a fee-simple, single-tenant IHOP restaurant in Las Cruces, New Mexico. The 5,175 square foot building sits on a substantial 46,541 square foot lot at 2900 N Telshor Blvd, conveniently located off Interstate 25 and Highway 70, boasting approximately 32,000 vehicles per day. The property benefits from a strong location surrounded by complementary national retailers including Sam's Club, Starbucks, AT&T, Coldstone Creamery, Kohl's, and Lowe's, as well as several major hotels like Holiday Inn, Motel 6, Marriott, and Hilton. The IHOP operates under an absolute NNN lease with a credit-rated tenant, providing a secure investment. The lease has 14 years remaining, with two five-year renewal options. The property boasts a 9.00% cap rate and a net operating income (NOI) of $170,500, with an asking price of $1,895,000 ($366.18 per square foot). Built in 1994, this one-story building is currently 100% occupied. This property is part of a larger five-property portfolio, also available for purchase. The ample parking and high-traffic location make this a compelling investment prospect. The Doña Ana County property (APN: 02-24499) offers a stable, high-return investment with a well-established national tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $758,126

  6.5%

  $699,809

  7%

  $649,823

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,182,602

  Geo Method

  $2,182,602

• Alternative Use

  Use

  Valuation

  Residential

  $590,315

  Hospitality

  $540,725

  Educational

  $449,877

  Medical

  $465,349

  Retail

  $699,809

Location Insight

City

Las Cruces

County

Dona Ana

State

New Mexico

Latitude

32.3518

Longitude

-106.764

CBSA code

29740

CBSA name

LAS CRUCES, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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