Newly Built 1031 Exchange
For Sale
$850,000
1116 N Chicago, Portales, NM 88130
Commercial Sale, Portales, NM
Property SizeContact for details
Days on Market520
Property Features for 1116 N Chicago
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Interior features
Audio/Video Surveillance, Security System
Appliances
Water Heater
Directions
On Hwy 70 on the Northeast side of Portales
Subdivision
New Mexico Mls
Standard status
Active
APN
121201101040300
Taxes and HOA fees
Tax Description
EAST PORTALES Block: 27 LOTS 7,8 & 9
Tax Annual Amount
7827
Legal Description
EAST PORTALES Block: 27 LOTS 7,8 & 9
Building Details
Year built
2022
Building materials
Block - Cinder, Brick, Brick Wainscot, Concrete, Crawlspace, Floor - Slab, Floor - Wood, Frame, Log, Masonry, Metal Frame, Siding, Siding Masonite, Slump Block, Fiberglass, Styrofoam, Aluminum Siding, Asbestos Siding, Clay Tile, Concrete Block, Mission Stone
Listing Agency:
Town & Country Real Estate, Inc.
(575) 762-7776
Listed By:
Lonnie Mitchell · License #16716
(575) 693-3287
Added: Apr 2, 2025
Changed: Sep 2
Last Checked: Sep 3 at 4:06AM
MLS# 20251859
Copyright © 2026 New Mexico MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2022, this 1031 exchange property is located at 1116 N Chicago in Portales, New Mexico. The improvements include audio/video surveillance and a security system, supporting controlled access and operational security.
The property is subject to a new five-year lease with three additional five-year renewal options. Because of the tenant’s security requirements, showings are scheduled by appointment. The lease structure provides a defined initial term along with multiple renewal periods for consideration by a buyer evaluating the asset for an exchange transaction.
The property is subject to a new five-year lease with three additional five-year renewal options. Because of the tenant’s security requirements, showings are scheduled by appointment. The lease structure provides a defined initial term along with multiple renewal periods for consideration by a buyer evaluating the asset for an exchange transaction.
Key Highlights
- 2022 construction
- New five‑year lease in place
- Three additional five‑year renewal options
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 88130, NM
18,027
Population
7,985
Households
2.3
Avg Household Size
31
Median Age
22%
College-Educated
86%
High-School Grad
632.1 sq mi
ZIP Area
29
Density / Sq Mi
$52,420
Median Household Income
$29,958
Median Earnings
$865
Median Rent
$136,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
1031 exchange property - Audio/video surveillance and a security system support controlled access to the property.
Where is this 1031 exchange property located?
The property is located at 1116 N Chicago Portales, NM.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2022 construction; New five‑year lease in place; Three additional five‑year renewal options
