Investment in Clovis, NM

Office for Sale
Sale Pending
Catylist Listing ID: 30712467
Property Subtypes: Governmental, Office Building
Status: Pending
Building Size (RSF): 5,680 SF
Gross Building Area: See Agent
Gross Land Area: 0.64 Acres
Sale Price: $775,000
Unit Price: $136.44 PSF
Property Use Type: Investment
Class of Space: Class A
Usable Size (USF): 5,680 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/9/2021

Overview / Comments

The property was built in 2004 and leased to the Social Security Office for an initial 10-year term, which began in May 2015. The property was remodeled for the Tenant and the tenant improvement allowance was paid out of the initial 5-year term and drops off for the remaining 5 years. The Tenant has a full-service lease in place with the Landlord paying property taxes, insurance, repairs, maintenance, utilities and janitorial. There are annual CPI increases that are automatically adjusted by the State.
4 years remaining on the Lease
Federal Lease with the Social Security Office
Remodeled in 2015 for the Tenant
Private parking lot and covered employee parking
Automatic Annual CPI Increases
Operating Expenses stated in lease, subject to change

Additional Details

Nearest MSA: Clovis
County: Curry
Tax ID/APN: 121201215325500
Property Located Between: Located just east of Prince Street and E Manana Blvd in Clovis, New Mexico.
Year Built: 2004
Year Renovated: 2015

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,143 35,138 36,565
Median Age: 37.84 32.83 32.78
Households: 3,815 13,405 13,914

Contact

Photograph of Listing Agent

Karen Higgins, CCIM

WestMark Commercial | TCN Worldwide West Texas CIE Member
Photograph of Listing Agent

Alison Blalock, CCIM

WestMark Commercial | TCN Worldwide West Texas CIE Member
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