$ 6,300,000
206-250 Mills AVE Las Vegas, NM 87701
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Listed by EXP Realty LLC
$ 6,300,000
Est. payment /mo
Active
206-250 Mills AVE Las Vegas, NM 87701
3.68 Acres Lot
UPDATED:
09/30/2024 05:01 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1061334
HOA Y/N No
Lot Size 3.680 Acres
Acres 3.68
Lot Dimensions Public Records
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.
Location
State NM
County San Miguel
Area 600 - San Miguel
Interior
Heating Electric
Cooling Other
Fireplace No
Exterior
Garage On Site
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Accessibility Wheelchair Access
Total Parking Spaces 140
Building
Story 1
Others
Tax ID 1-094-093-179-250
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional