260 Panorama Blvd Alamogordo, NM 88310
- Retail properties
- 6,500 SF
- 1.15 lot acres
Current Use by Public Records
- Johnny Carino's / Restaurant / Italian Restaurant
Property Details for 260 Panorama Blvd
- Lot size
- 1.15 lot acres
- Property size
- 6,500 SF
- Property type
- Retail properties
Description
This exceptional retail property, located at 260 Panorama Blvd in Alamogordo, New Mexico, presents a lucrative investment opportunity. The 6,500 square foot building sits on a 1.147-acre lot and boasts 76 parking spaces, ensuring ample customer convenience. Currently operating under a triple-net (NNN) lease, the property offers a secure and passive income stream with a remaining lease term of five years, expiring December 30, 2029. The asking price is $2,050,000, translating to a compelling price per square foot of $315.38 and a strong 6.88% capitalization rate. The lease agreement includes five-year renewal options, providing long-term stability and potential for future growth. Situated in Otero County, New Mexico, with a zip code of 88310, this property benefits from a strategic location within the Alamogordo market. This turnkey investment is ideal for those seeking a stable, high-yielding retail asset with significant upside potential. The property's size, parking availability, and favorable lease terms make it an attractive proposition for discerning investors. The strong cap rate and long-term lease provide a solid foundation for a secure and profitable investment. Don't miss this opportunity to acquire a prime retail property in a thriving New Mexico market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alamogordo
- County
- Otero
- State
- New Mexico
- Longitude
- -105.959
- Latitude
- 32.8758
