2900 Telshor Blvd Las Cruces, NM 88011-8239

Property Details for 2900 Telshor Blvd

Year built

1996

Construction

FRAME

Lot size

1.07 lot acres

Property size

5,205 SF

Zone code

M1C

Property type

Turn key restaurants

APN

4-008-132-142-273

APU

4008132142273

Description

This exceptional investment opportunity presents a fee-simple, single-tenant IHOP restaurant in Las Cruces, New Mexico. The 5,175 square foot building sits on a substantial 46,541 square foot lot at 2900 N Telshor Blvd, conveniently located off Interstate 25 and Highway 70, boasting approximately 32,000 vehicles per day. The property benefits from a strong location surrounded by complementary national retailers including Sam's Club, Starbucks, AT&T, Coldstone Creamery, Kohl's, and Lowe's, as well as several major hotels like Holiday Inn, Motel 6, Marriott, and Hilton. The IHOP operates under an absolute NNN lease with a credit-rated tenant, providing a secure investment. The lease has 14 years remaining, with two five-year renewal options. The property boasts a 9.00% cap rate and a net operating income (NOI) of $170,500, with an asking price of $1,895,000 ($366.18 per square foot). Built in 1994, this one-story building is currently 100% occupied. This property is part of a larger five-property portfolio, also available for purchase. The ample parking and high-traffic location make this a compelling investment prospect. The Doña Ana County property (APN: 02-24499) offers a stable, high-return investment with a well-established national tenant.