Investment Property For Sale | Absolute Net

Retail-Commercial for Sale
Catylist Listing ID: 30269145
Property Subtypes: Restaurant, Retail-Pad
Building Status: Under Construction
Building Size (RSF): 2,890 SF
Gross Building Area: See Agent
Sale Price: $2,933,333
Unit Price: $1,014 PSF
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 2,890 SF
Sale Terms: Cash to Seller
Cap Rate: 5.25%
Last Updated: 12/17/2018

Overview / Comments

Property Highlights:
•Cap Rate: 5.25%
•NOI: $154,000
•20 Year Absolute Net Lease with 10% increases every 5 years
•Four 5 year options with 10% increases per term
•Operator has 34 stores in 3 states (NM, CO and CA)
•Institutional Location
•Nearby retailers include: Wendy's, McDonalds's, Domino's Pizza, Sears, Aaron's and Sonic

Area Summary
Carlsbad is the county seat of Eddy County, New Mexico and has a population of approximately 28,914 people. Carlsbad is located within the larger Permian Basin which covers much of west Texas and Southeast New Mexico. The Permian Basin is main economic driver in the region, with approximately 10 billion barrels of oil being produced annually. The oil basin is 250 miles wide and 300 miles long and has experienced major investments in 2018 from companies such as Exxon Mobile, Noble Energy, Parsley Energy and others.There are several other industries locally that benefit Carlsbad including the Potash Mine industry, Waste Isolation Pilot Plant (WIPP) and tourism industry which is anchored by the Pecos River and Carlsbad Caverns. Carlsbad is a regional city that draws residence from nearby communities such as Artesia, Loving and Pecos, TX.

Additional Details

Nearest MSA: Carlsbad-Artesia
County: Eddy

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,187 25,319 31,218
Median Age: 34.94 37.58 38.15
Households: 2,420 9,898 12,146


Photograph of Listing Agent

Jake Redfearn

NAI 1st Valley
Photograph of Listing Agent

Jacob Slavec

NAI 1st Valley
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.