Shopping Strip

The Master's Centre

810 E 21st St, Clovis, NM 88101

Listing Price: $2,932,000

Cap Rate
7.82%
Gross SF
50,763
Rentable SF
50,763
Price/Gross SF
$57.76
Lot Size
3.30 acres
Year Built
1985

Investment Overview

The Master's Centre is a value-add 50,763-square foot, multi-tenant retail center located in Clovis, New Mexico. The center is currently 82 percent occupied, and 77 percent of the gross leasable area has triple-net leases. Anchored by Big Lots, other tenants consist of Java Loft Coffee Shop, Guadalajara restaurant, and Five S Properties (conference room). Big Lots has been at this location since 2005 and has two five-year options for renewal remaining. There is future upside potential in leasing the vacant suites. The building was originally constructed in 1985, has been well maintained, and is situated on 3.3 acres with ample paved parking. The subject property is located on East 21st Street, one lot east of the signalized intersection with Prince Street with access to the property from both streets. Cumulative traffic counts are approximately 20,000 vehicles per day. The Master’s Centre is adjacent to Advance Auto Parts, Citizens Bank of Clovis, and Arby’s. Numerous other national and regional tenants are in close proximity, including Walgreens, Hobby Lobby, Dollar General, Harbor Freight Tools, Albertson’s Market, AutoZone, Domino’s Pizza, Goodwill, T-Mobile, Sonic Drive-In, Allsup’s Convenience Store, KFC, Del Taco, Ashley HomeStore, and more. The subject property is also less than one-half mile south of North Plains Mall, the only enclosed regional mall within a 95-mile radius, serving nearly 120,000 customers across Eastern New Mexico and Western Texas. Anchored by Dillard’s, JCPenney, and Stage, the mall features a mix of national retailers, and an array of dining and entertainment offerings including North Plains Cinema 7.

Investment Highlights

  • Value-Add Multi-Tenant Retail Center
  • Anchored by Big Lots | Tenant has Two Five-Year Options for Renewal Remaining
  • 50,763 Square Feet | 82% Occupied | Upside Potential in Leasing the Vacant Suites
  • Located on East 21st Street | One Lot East of the Signalized Hard Corner of Prince Street with Access from Both Streets

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    License(s): NM: 19583

    New Mexico

Shopping Strip

The Master's Centre

Listing Price: $2,932,000

Cap Rate
7.82%
Gross SF
50,763
Rentable SF
50,763
Price/Gross SF
$57.76
Lot Size
3.30 acres
Year Built
1985

Investment Highlights

  • Value-Add Multi-Tenant Retail Center
  • Anchored by Big Lots | Tenant has Two Five-Year Options for Renewal Remaining
  • 50,763 Square Feet | 82% Occupied | Upside Potential in Leasing the Vacant Suites
  • Located on East 21st Street | One Lot East of the Signalized Hard Corner of Prince Street with Access from Both Streets

Investment Overview

The Master's Centre is a value-add 50,763-square foot, multi-tenant retail center located in Clovis, New Mexico. The center is currently 82 percent occupied, and 77 percent of the gross leasable area has triple-net leases. Anchored by Big Lots, other tenants consist of Java Loft Coffee Shop, Guadalajara restaurant, and Five S Properties (conference room). Big Lots has been at this location since 2005 and has two five-year options for renewal remaining. There is future upside potential in leasing the vacant suites. The building was originally constructed in 1985, has been well maintained, and is situated on 3.3 acres with ample paved parking. The subject property is located on East 21st Street, one lot east of the signalized intersection with Prince Street with access to the property from both streets. Cumulative traffic counts are approximately 20,000 vehicles per day. The Master’s Centre is adjacent to Advance Auto Parts, Citizens Bank of Clovis, and Arby’s. Numerous other national and regional tenants are in close proximity, including Walgreens, Hobby Lobby, Dollar General, Harbor Freight Tools, Albertson’s Market, AutoZone, Domino’s Pizza, Goodwill, T-Mobile, Sonic Drive-In, Allsup’s Convenience Store, KFC, Del Taco, Ashley HomeStore, and more. The subject property is also less than one-half mile south of North Plains Mall, the only enclosed regional mall within a 95-mile radius, serving nearly 120,000 customers across Eastern New Mexico and Western Texas. Anchored by Dillard’s, JCPenney, and Stage, the mall features a mix of national retailers, and an array of dining and entertainment offerings including North Plains Cinema 7.

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    License(s): NM: 19583

    New Mexico

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