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Shopping Strip

Bel Aire Shopping Center

931 E Bender Blvd, Hobbs, NM 88240

Listing Price: $4,400,000

Cap Rate
7.83%
Gross SF
74,146
Rentable SF
74,146
Price/Gross SF
$59.34
Lot Size
8.68 acres
Year Built
1959

Investment Overview

Bel Aire Shopping Center is a 74,146-square foot, multi-tenant retail center in Hobbs, New Mexico. The center is 90 percent occupied, with upside potential in filling the vacant space and converting all leases to triple-net. Anchored by Big Lots and Family Dollar, other tenants consist of Tokyo Japanese Steak House, Aka To Kuro Martial Arts, Verizon, Zia Chiropractic, E-Clips, CBD American Shahman, Kingz Barbershop, Elite Nails, Watermill Express, and Erika Becerra Lashes. The building was constructed in 1959 and sits on a large 8.68-acre lot with ample parking.

Investment Highlights

  • Value-Add, 74,146-Square Foot, Multi-Tenant Retail Center
  • 90% Occupied | 50% of the Gross Leasable Area has Triple-Net Leases
  • Significant Upside Potential in Filling the Vacant Space and Converting All Leases to Triple-Net
  • Anchored by Big Lots and Family Dollar | Both Tenants Recently Extended Their Lease Terms for Five Years

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s) NM: 19583

    New Mexico

Shopping Strip

Bel Aire Shopping Center

Listing Price: $4,400,000

Cap Rate
7.83%
Gross SF
74,146
Rentable SF
74,146
Price/Gross SF
$59.34
Lot Size
8.68 acres
Year Built
1959

Investment Highlights

  • Value-Add, 74,146-Square Foot, Multi-Tenant Retail Center
  • 90% Occupied | 50% of the Gross Leasable Area has Triple-Net Leases
  • Significant Upside Potential in Filling the Vacant Space and Converting All Leases to Triple-Net
  • Anchored by Big Lots and Family Dollar | Both Tenants Recently Extended Their Lease Terms for Five Years

Investment Overview

Bel Aire Shopping Center is a 74,146-square foot, multi-tenant retail center in Hobbs, New Mexico. The center is 90 percent occupied, with upside potential in filling the vacant space and converting all leases to triple-net. Anchored by Big Lots and Family Dollar, other tenants consist of Tokyo Japanese Steak House, Aka To Kuro Martial Arts, Verizon, Zia Chiropractic, E-Clips, CBD American Shahman, Kingz Barbershop, Elite Nails, Watermill Express, and Erika Becerra Lashes. The building was constructed in 1959 and sits on a large 8.68-acre lot with ample parking.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    (505) 445-6333

    License(s): NM: 19583

    New Mexico

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