Shopping Strip

Hilltop Plaza Shopping Center

2300 N Main St, Clovis, NM 88101

Listing Price: $4,417,000

Cap Rate
7.88%
Gross SF
69,613
Rentable SF
69,613
Price/Gross SF
$63.45
Lot Size
7.01 acres
Year Built
1967

Investment Overview

Hilltop Plaza Shopping Center is a 69,613-square foot, multi-tenant retail center with tremendous upside potential located in Clovis, New Mexico. The center is currently 76 percent occupied with a complementary mix of tenants, and approximately 38 percent of the gross leasable area has triple-net leases. Tenants include Jump Off, Go Fitness, Interim Healthcare, Kirby Company, Little Caesar’s Pizza, VIP Nails and Spa, Nutrition Break, The Optical Center, National Truck Services, and Options Home Health. Originally constructed in 1967 with extensive renovations in 2012, the center is situated on a large 7.01-acre lot. The subject property is located at the signalized hard corner of North Main Street and West 21st Street, with additional access from Mitchell Street. Neighboring retailers include Red Arrow Entertainment, S & S Supermarket, Taco Box, and Hilltop Bottle Shop. Numerous 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, Big Lots, and more. The subject property is also less than 1.5 miles southwest 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

  • 69,613 Square Foot, Value Add Multi-Tenant Retail Center
  • 76% Occupied | 38% of the Gross Leasable Area has Triple-Net Leases
  • Tremendous Upside Potential | Pro Forma Cap Rate is 12.72%
  • Priced at $63 per Square Foot | Well Below Replacement Cost

Exclusively Listed By

Broker of Record

  • Matt Reeves

    Senior Associate

    License(s): NM: 19583

    New Mexico

Shopping Strip

Hilltop Plaza Shopping Center

Listing Price: $4,417,000

Cap Rate
7.88%
Gross SF
69,613
Rentable SF
69,613
Price/Gross SF
$63.45
Lot Size
7.01 acres
Year Built
1967

Investment Highlights

  • 69,613 Square Foot, Value Add Multi-Tenant Retail Center
  • 76% Occupied | 38% of the Gross Leasable Area has Triple-Net Leases
  • Tremendous Upside Potential | Pro Forma Cap Rate is 12.72%
  • Priced at $63 per Square Foot | Well Below Replacement Cost

Investment Overview

Hilltop Plaza Shopping Center is a 69,613-square foot, multi-tenant retail center with tremendous upside potential located in Clovis, New Mexico. The center is currently 76 percent occupied with a complementary mix of tenants, and approximately 38 percent of the gross leasable area has triple-net leases. Tenants include Jump Off, Go Fitness, Interim Healthcare, Kirby Company, Little Caesar’s Pizza, VIP Nails and Spa, Nutrition Break, The Optical Center, National Truck Services, and Options Home Health. Originally constructed in 1967 with extensive renovations in 2012, the center is situated on a large 7.01-acre lot. The subject property is located at the signalized hard corner of North Main Street and West 21st Street, with additional access from Mitchell Street. Neighboring retailers include Red Arrow Entertainment, S & S Supermarket, Taco Box, and Hilltop Bottle Shop. Numerous 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, Big Lots, and more. The subject property is also less than 1.5 miles southwest 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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