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Shopping Neighborhood

Mountain Vista Plaza

3961 E Lohman Ave, Las Cruces, NM 88011

Listing Price: $10,200,000

Cap Rate
6.82%
Gross SF
35,308
Rentable SF
35,308
Price/Gross SF
$288.89
Lot Size
4.75 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to present Mountain Vista Plaza, a four-building multi-tenant retail office center with a gross leasable area of approximately 35,000 square feet, situated on a 4.75 acre lot. The property is located within a strong retail trade area along E. Lohman Avenue, just minutes east of the Can Am Highway (I-25), the Mesilla Valley Mall and shadowed by the Mountain View Regional Medical Center to the west. Mountain Vista Plaza is 100% occupied with 9 of the 10 tenants servicing NNN leases. The one tenant (Army Corp of Engineers) who is not, recently renewed their full service lease (related to repairs, janitorial, etc.) and pays a separate amount on top of the base rent for other related CAM costs. This asset has been professionally managed and well-maintained. Being in excellent condition, recent capital improvements include a full roof replacement (2016), 9 HVAC units (2016), exterior painting of the entire complex (2017) and sealing of the parking lot (2020). This investment property is also directly located within The City of Las Cruces' plan to guide the development of over 110 acres of city-owned property adjacent to the E. Lohman corridor. Mountain Vista Plaza will benefit and realize further long term upside with increased commercial and residential development, along with new economic drivers, bolstering the direct area. Nearby retailers include Walgreen's, Jason's Deli, Dunkin' Donuts, Jimmy John's, Pioneer Bank, Circle K, Ross, Petco, Big 5 Sporting Goods, Five Below among others.

Investment Highlights

  • Attractive, well-managed and maintained asset in excellent condition, with recent capital improvements
  • 100% occupied with 9 of 10 tenants servicing NNN leases
  • Located along a strong retail corridor
  • Minutes from Can Am Highway (I-25) and other major retail trade centers
  • Strategically located near Mountain View Regional Medical Center (over 1,200 employees, 223 physicians)
  • Directly located within the Las Cruces East Lohman Development Plan
  • Great opportunity with future upside

Exclusively Listed By

Financing By

Shopping Neighborhood

Mountain Vista Plaza

Listing Price: $10,200,000

Cap Rate
6.82%
Gross SF
35,308
Rentable SF
35,308
Price/Gross SF
$288.89
Lot Size
4.75 acres
Year Built
2005

Investment Highlights

  • Attractive, well-managed and maintained asset in excellent condition, with recent capital improvements
  • 100% occupied with 9 of 10 tenants servicing NNN leases
  • Located along a strong retail corridor
  • Minutes from Can Am Highway (I-25) and other major retail trade centers
  • Strategically located near Mountain View Regional Medical Center (over 1,200 employees, 223 physicians)
  • Directly located within the Las Cruces East Lohman Development Plan
  • Great opportunity with future upside

Investment Overview

Marcus & Millichap is pleased to present Mountain Vista Plaza, a four-building multi-tenant retail office center with a gross leasable area of approximately 35,000 square feet, situated on a 4.75 acre lot. The property is located within a strong retail trade area along E. Lohman Avenue, just minutes east of the Can Am Highway (I-25), the Mesilla Valley Mall and shadowed by the Mountain View Regional Medical Center to the west. Mountain Vista Plaza is 100% occupied with 9 of the 10 tenants servicing NNN leases. The one tenant (Army Corp of Engineers) who is not, recently renewed their full service lease (related to repairs, janitorial, etc.) and pays a separate amount on top of the base rent for other related CAM costs. This asset has been professionally managed and well-maintained. Being in excellent condition, recent capital improvements include a full roof replacement (2016), 9 HVAC units (2016), exterior painting of the entire complex (2017) and sealing of the parking lot (2020). This investment property is also directly located within The City of Las Cruces' plan to guide the development of over 110 acres of city-owned property adjacent to the E. Lohman corridor. Mountain Vista Plaza will benefit and realize further long term upside with increased commercial and residential development, along with new economic drivers, bolstering the direct area. Nearby retailers include Walgreen's, Jason's Deli, Dunkin' Donuts, Jimmy John's, Pioneer Bank, Circle K, Ross, Petco, Big 5 Sporting Goods, Five Below among others.

Exclusively Listed By

Financing By

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