Leased 1031 Exchange
1116 N Chicago, Portales, NM 88130
For Sale
$850,000
Commercial Sale, Portales, NM
Property SizeContact for details
Lot Size0.42 Acres
Days on Market591
Property Features for 1116 N Chicago
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Listing Agency:
Town & Country Real Estate, Inc.
(575) 762-7776
Listed By:
Brett Johnson · License NM #9031
(575) 760-3654
Added: Apr 2, 2025
Changed: Nov 5
Last Checked: Nov 13 at 8:06PM
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.
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Investment Insights
Based on property information with market context.
Built in 2022, this 1031 exchange property occupies a 0.42-acre site in Portales, New Mexico. The property is subject to a new five-year lease with three renewable five-year periods.
Access to the property is appointment-only because of the security requirements and nature of the tenant. Audio/video surveillance and a security system are among the listed features.
Access to the property is appointment-only because of the security requirements and nature of the tenant. Audio/video surveillance and a security system are among the listed features.
Key Highlights
- New five‑year lease with three renewable five‑year periods
- Built in 2022 on a 0.42‑acre site
- Audio/video surveillance and security system
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
1031 exchange property - A recently built commercial property has a five-year lease and three additional five-year renewal periods.
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: New five‑year lease with three renewable five‑year periods; Built in 2022 on a 0.42‑acre site; Audio/video surveillance and security system
