Mills Plaza Shopping Center | 208-250 Mills Ave
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Mills Plaza Shopping Center 208-250 Mills Ave
58,460 SF 74% Leased Retail Building Las Vegas, NM 87701 $5,900,000 ($101/SF) 7.10% Cap Rate
Investment Highlights
- Property is 74% leased. Great upside opportunity
- 9000 SF Padsite for sale or lease.
- Nice upside in a town with 3 colleges, a State Hospital and a University.
Executive Summary
Popular Strip center with Big R anchor and long term national tenancy with Auto Zone and Family Dollar. FEMA just leased additional space becoming the largest tenant at the center.
Owners have invested $650,000 in capital and tenant improvements with new LED lighting, sewer lines, plumbing, electrical, gas, windows, doors, and updated roof.
Owners have invested $650,000 in capital and tenant improvements with new LED lighting, sewer lines, plumbing, electrical, gas, windows, doors, and updated roof.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Building Size
58,460 SF
Building Class
B
Year Built/Renovated
1979/2018
Price
$5,900,000
Price Per SF
$101
Cap Rate
7.10%
NOI
$418,900
Percent Leased
74%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
3.68 AC
Parking
327 Spaces (5.59 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Monument Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 27020 | Total Assessment | $493,685 |
| Land Assessment | $126,347 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $367,338 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
27020
Land Assessment
$126,347
Improvements Assessment
$367,338
Total Assessment
$493,685
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Mills Plaza Shopping Center | 208-250 Mills Ave
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