$6,300,000 $33,820 est/mo Sourced by Back At You

206-250 Mills Avenue,Las Vegas, NM 87701

Las Vegas NM, 87701

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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.

Details

MLS#1061334
Listing TypeFor Sale
StyleRetail
Sub-TypeResale
StatusActive
Days On Site27
Listing Provided ByEXP Realty LLC | Coralee H Quintana

Features

Story(s)1
ZoningNR
Acreage3.68

Market Activity 87701

MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by the Greater Albuquerque Association of REALTORS®.

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Learn More About This Property

StateNM
CountySan Miguel
CityLas Vegas
Zip Code87701
Area600 San Miguel
Listing VS Median (in 87701)
Price:
$6,300,000
low | high
Med:
$264,950
100% of Average
On Site:
27
low | high
Med:
58.500000
46.153846153846% of Average
Sourced by Back At You
Listing Updated: May 1, 2024 at 10:11:38 AM PDT
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