Shopping Community
Dona Ana Plaza - Grocery Anchored
1239 S 2nd St, Raton, NM 87740
Listing Price: $3,700,000
Investment Overview
We are pleased to present Dona Ana Plaza in Raton, New Mexico. The offering is grocery anchored community shopping center consisting of 77,289 square feet of improvements sitting on a 6.7-acre parcel. The real estate is a value-add necessity needs based center that has served the community for over 40 years. Dona Ana Plaza is comprised of a diverse tenant mix of grocery, discount goods, medical, restaurant, and other internet resistant services tenants. The vast majority of the tenants have been at this site for over a decade showing a commitment to the location. The large parking field offers potential for additional pad development along Second St. The property is being offered free and clear of any existing debt and has not sold in the last 50 plus years.
Dona Ana Plaza - Grocery Anchored
Investment Highlights
- GROCERY-ANCHORED CENTER: The only Grocery Store within a 20-mile Radius with an operating history of 40 Years, with Low Rents and Low Occupancy Cost
- BELOW REPLACEMENT COST: Price Per Foot of $47.48, far below cost to replace the property, reflecting the imbedded value and upside due to low rents
- HIGH YIELD: 8% Capitalization Rate and 9.21 % Cash on Cash
- VALUE ADD OPPORTUNITY: Current Occupancy of 83% representing Potential Upside in Lease up and converting existing leases to NNN
- COMMITMENT TO LOCATION: Family Dollar recently extended their lease, taking an additional 6,000SF for a full renovation, converting to the new Family Dollar & Dollar Tree format
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $3,700,000
Investment Highlights
- GROCERY-ANCHORED CENTER: The only Grocery Store within a 20-mile Radius with an operating history of 40 Years, with Low Rents and Low Occupancy Cost
- BELOW REPLACEMENT COST: Price Per Foot of $47.48, far below cost to replace the property, reflecting the imbedded value and upside due to low rents
- HIGH YIELD: 8% Capitalization Rate and 9.21 % Cash on Cash
- VALUE ADD OPPORTUNITY: Current Occupancy of 83% representing Potential Upside in Lease up and converting existing leases to NNN
- COMMITMENT TO LOCATION: Family Dollar recently extended their lease, taking an additional 6,000SF for a full renovation, converting to the new Family Dollar & Dollar Tree format
Investment Overview
We are pleased to present Dona Ana Plaza in Raton, New Mexico. The offering is grocery anchored community shopping center consisting of 77,289 square feet of improvements sitting on a 6.7-acre parcel. The real estate is a value-add necessity needs based center that has served the community for over 40 years. Dona Ana Plaza is comprised of a diverse tenant mix of grocery, discount goods, medical, restaurant, and other internet resistant services tenants. The vast majority of the tenants have been at this site for over a decade showing a commitment to the location. The large parking field offers potential for additional pad development along Second St. The property is being offered free and clear of any existing debt and has not sold in the last 50 plus years.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
