1130-1104-1106 Grand Ave Las Vegas, NM 87701
- Land
Current Use by Public Records
- Land
Property Details for 0 1130-1104-1106 Grand Ave
- Year built
- 1949
- Property type
- Land
Description
This exceptional commercial property in historic Las Vegas, New Mexico, presents a unique investment opportunity. The Hillcrest Complex, situated on Grand Avenue, the city's main thoroughfare, comprises a main building housing a coffee shop, dining area, and a banquet-capable Flamingo Room. A full basement with exterior access is ideal for deliveries. Attached is the Trading Post Saloon, complete with an outdoor patio. The property also includes a three-bedroom apartment upstairs. A spacious parking lot connects to the Grand Street Station, perfect for private events. A vacant lot is included, offering potential for expansion. The sale includes a liquor license, usable for special events or as a picnic license, approved by the city. Established in 1949, the Hillcrest Complex offers a proven track record of income generation, with a reported 9% cap rate. Las Vegas, NM, boasts a vibrant community with higher education institutions (Highlands University, Luna Vocational Technical, and United World College), a hospital, and convenient access to I-25, providing easy connections to Santa Fe (approximately one hour away) and the Colorado border (approximately three hours away). This is a rare chance to acquire a well-established, income-producing business in a thriving historic community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- San Miguel
- State
- New Mexico
- Longitude
- -105.212
- Latitude
- 35.6031
