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Listed by EXP Realty LLC
$5,900,000
Est. payment /mo
3.68 Acres Lot
Active
206-250 Mills AVE Las Vegas, NM 87701
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UPDATED:
02/18/2025 10:15 AM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1061334
HOA Y/N No
Annual Tax Amount $18,401
Lot Size 3.680 Acres
Acres 3.68
Lot Dimensions Public Records
Property Sub-Type Retail
Property Description
Mills Plaza offers investors the unique opportunity to achieve significant upside in the near term by leasing current vacancies and the newly approved drive-thru pad site. There are currently eleven vacancies, totaling 15,459 square feet, and a 9,000 square foot pad site with drive-thru, available to lease to a quick serve restaurant (QSR), bank, or car wash. Combined they equate to a physical vacancy of 32%. An investor will have the opportunity to increase the NOI by 27%, by leasing half vacant inline suites at $15 per square foot and the pad site at $5.56 per SF.Shopping center spans 58,460 SF on 3.68 acres and includes 9,000 SF padsite. Renovation work underway on vacant units.
Location
State NM
County San Miguel
Area 600 - San Miguel
Interior
Heating Electric
Cooling Other
Fireplace No
Exterior
Parking Features On Site
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Accessibility Wheelchair Access
Total Parking Spaces 327
Building
Story 1
Others
Tax ID 1-094-093-179-250
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional