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206-250 Mills Avenue

Las Vegas, NM 87701
  • $6,300,000
  • STATUS: Active
  • ON SITE: 31 Days
  • MLS #: 1061334
UPDATED: 36 min ago
$6,300,000
  • 0
    BEDS
  • 3.68
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

Mills Plaza offers investors the unique opportuinty to achieve significant upside in the near term by leasing current vacancies and the newly approved drive-thru pad site. There are currently eleven vacancies, totaling 15,459 square feet, and a 9,000 square foot pad site with drive-thru, available to lease to a quick serve restaurant (QSR), bank, or car wash. Combined they equate to a physical vacancy of 36.2%. An investor will have the opportunity to increase the NOI by 27%, by leasing half vacant inline suites at $15 per square foot and the pad site at $5.56 per SF.Shopping center spans 58,460 SF on 3.68 acres and includes 9,000 SF padsite. Renovation work underway on vacant units.

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IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2024-05-26T07:05:13.033.
www.metrohomesearch.com/homes/149875724
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206-250 Mills Avenue Las Vegas, NM 87701

  • Price: $6,300,000
  • Status: Active
  • On Site: 31 Days
  • Updated: 36 min ago
  • MLS #: 1061334
0
Beds
0
Baths
0
½ Baths
3.68
Acres
Neighborhood:
600 - San Miguel
County:
San Miguel
Area:
600 - San Miguel
Property Description
Mills Plaza offers investors the unique opportuinty to achieve significant upside in the near term by leasing current vacancies and the newly approved drive-thru pad site. There are currently eleven vacancies, totaling 15,459 square feet, and a 9,000 square foot pad site with drive-thru, available to lease to a quick serve restaurant (QSR), bank, or car wash. Combined they equate to a physical vacancy of 36.2%. An investor will have the opportunity to increase the NOI by 27%, by leasing half vacant inline suites at $15 per square foot and the pad site at $5.56 per SF.Shopping center spans 58,460 SF on 3.68 acres and includes 9,000 SF padsite. Renovation work underway on vacant units.
Exterior Features

Parking Features On Site Parking Total 140 Stories Total 1

Interior Features

Cooling Other Heating Electric Heating YN Yes

Property Features

Accessibility Features Wheelchair Access Gross Income 479703.26 Land Lease YN No Leasable Area 74 Lease Considered YN No Lease Term None Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional Operating Expense 154605.86 Property Sub Type Retail Tax Annual Amount 0 Utilities Electricity Connected Sewer Connected Water Connected Zoning Description NR

Southwest MLS] logo Listing courtesy of EXP Realty LLC: (505) 554-3873. © 2024 Southwest Multiple Listing Service, Inc.


IDX information © 2024 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2024-05-26T07:05:13.033.
 
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Campbell & Campbell Real Estate Services
5716 Osuna Rd NE
Albuquerque NM, 87109