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    2350 Lohman Ave Las Cruces, NM 88001

    Sponsored
    For Sale
    $4,069,915

    Las Cruces, NM: High-yield, 20-year lease.

    Property size:
    22,991 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 22,991 square foot Big Lots convenience and grocery store in Las Cruces, New Mexico. Located at 2350 E Lohman Ave, 88001, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), providing significant long-term stability and income generation. The lease features a 2% annual rent increase, ensuring consistent NOI growth. The property sits on an 82,218 square foot lot, offering potential for future development. Currently operating at 100% occupancy, the property generates a substantial NOI of $254,370, representing a 6.25% cap rate on the asking price of $4,069,915 ($177.02/sq ft). The property is offered as a 1031 exchange opportunity and is free and clear of financing. The strong demographic profile of the area, with a high average household income within a 5-mile radius, further enhances the investment's appeal. This asset presents a compelling combination of secure income, growth potential, and a prime location within a thriving retail market. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval.

    Property Features for 2350 Lohman Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    22,991 SF

    HighLights

    • Fee‑simple ownership of a 22,991 square foot Big Lots store in Las Cruces, NM.
    • 20‑year absolute NNN lease with corporate guarantee from Big Lots, Inc. (NYSE: BIG), including a 2% annual rent increase.
    • Property generates a $254,370 NOI, representing a 6.25% cap rate on the $4,069,915 asking price ($177.02/sq ft).
    • Situated on an 82,218 square foot lot, offering potential for future development.
    • Currently 100% occupied and offered as a 1031 exchange opportunity, free and clear of financing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hobby Lobby Craft Store Las Cruces Rapid ... Emergency Dental Service Big Lots Discount Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Doña Ana
    State
    New Mexico
    Longitude
    -106.7486202
    Latitude
    32.3120229

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    FAQs

    What type of property is this?
    Individual retail property - Las Cruces, NM: High-yield, 20-year lease.
    Where is this individual retail property located?
    The property is located at 2350 Lohman Ave Las Cruces, NM.
    What is the asking price?
    The asking price for this property is $4,069,915.
    What are key features of this property?
    This property features: Fee-simple ownership of a 22,991 square foot Big Lots store in Las Cruces, NM.; 20-year absolute NNN lease with corporate guarantee from Big Lots, Inc. (NYSE: BIG), including a 2% annual rent increase.; Property generates a $254,370 NOI, representing a 6.25% cap rate on the $4,069,915 asking price ($177.02/sq ft).
    Request Owner's contact information
    2350 Lohman Ave Las Cruces, NM 88001
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2350 Lohman Ave Las Cruces, NM 88001
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