2701 Prince St Clovis, NM 88101

Property Details for 2701 Prince St

Year built

1999

Lot size

1.05 lot acres

Property size

5,035 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a 5,035 square foot AT&T storefront in Clovis, New Mexico. Located on a high-traffic thoroughfare (Prince Street), this property boasts a strong 8% cap rate and a substantial NOI of $125,878. The building, constructed in 1999 and extensively renovated in 2024 (including a new roof and HVAC), is currently 100% occupied under a gross lease with a credit-rated tenant. The lease with AT&T, the world's largest telecommunications companies, extends until August 31, 2027, offering a remaining term of approximately 2.8 years. The property sits on a 1.05-acre lot and benefits from its prime location within a thriving retail corridor, surrounded by numerous national retailers and experiencing significant recent growth. The property's performance is further enhanced by the tenant's long-standing presence (nearly 17 years) and recent lease extension, demonstrating a strong commitment to the location. This is a rare opportunity to acquire a stable, high-performing investment in a dynamic retail market. The asking price is $1,573,000, translating to a price per square foot of $312.41. The property's recent renovations, coupled with its strategic location and strong tenant, make it an attractive investment prospect with significant potential for future appreciation. The surrounding area shows strong Placer.ai performance metrics for several key retailers, further validating the strength of the retail corridor. Recent additions to the immediate area include Texas Roadhouse, Popeyes, Dickey's Barbecue, and Big R Stores, highlighting the ongoing growth and development. Future additions include Marshalls and Ulta, further solidifying the area's retail dominance.