Clovis Shopping Center

Price: $1,446,000
Sq. Ft.: 7,200
Cap Rate: 8.00%
Built: 2004

The subject property is a 7,200-square foot multi-tenant retail center located in Clovis, New Mexico. The center is 100 percent occupied with credit tenants, and all of the leases are triple-net. Tenants consist of GameStop, Papa Murphy’s Take ‘N’ Bake Pizza, The Cash Store, and Payless ShoeSource. The building was constructed in 2004 and sits on 0.7 acres.

The subject property is located on North Prince Street, and is an out parcel to a Walmart Supercenter.  Traffic counts  are approximately 8,600 vehicles per day in front of the property. Numerous national and regional tenants are in the neighboring area, including OneMain Financial, Dollar Tree, Chili’s Grill & Bar, Big 5 Sporting Goods, Lowe’s Home Improvement, RibCrib BBQ & Grill, Petsense, Check ‘n Go, Verizon, Stripes, Pizza Hut, and others. The five mile population is 42,810 with a one mile average household income of $66,000.

Clovis is located in the New Mexico portion of the Llano Estacado in the eastern part of the state, about nine miles west of the Texas border. The city is the county seat of Curry County.  Clovis is known for its proximity to Cannon Air  Force Base, with a population of 4,711 active duty service members; 5,416 family members; and 630 civilians. The  BNSF Railway operates a division point and large freight classification yard on its Southern Transcon at Clovis, with a dispatchers office here monitoring traffic over the Belen Cutoff. This 235-mile rail corridor is one of the most heavily trafficked routes in the western United States, often with more than 100 mostly intermodal freight trains arriving and leaving Clovis daily.