Hilltop Plaza Shopping Center, located at 2300 North Main Street, Clovis, New Mexico, is a heavy value-add retail center comprised of 69,613 square feet of gross leasable area on a 7.01-acre lot. Priced at $61 per square foot, significantly below replacement cost, the property is currently 41 percent leased presenting an excellent investment opportunity for future upside. The tenant base is a mix of national, regional, and local retailers, including Interim Healthcare, Little Caesar’s, Armstrong McCall, The Optical Center, Fortitude Fitness, Sierra Truck Licensing, and others. Little Caesar’s end cap suite features a drive-through window.
The shopping center is strategically situated near the signalized hard corner of North Main Street and West 21st Street, providing high visibility and access in a primary retail trade area. Its location ensures significant foot traffic and positioning in a well-established commercial zone, enhancing the potential for future tenant demand and long-term value. Nearby retailers include S & S Supermarket, Family Dollar, Dairy Queen, Hobby Lobby, Albertsons Market, Harbor Freight, Dollar General, IHOP, and more. The surrounding area has an estimated population of 40,328 within a five-mile radius, providing a solid consumer base with diverse demographics.
- Heavy Value-Add Opportunity | 14.38% Pro Forma Cap Rate
- Currently 41% Occupied, and priced at $61 per square foot, well below replacement cost, this property presents a significant value-add opportunity for investors seeking long-term appreciation and potential for increased cash flow.
- Prime Location on Large 7.1-Acre Parcel
- Situated near the signalized hard corner of North Main Street and West 21st Street, the center benefits from high visibility and direct access, driving foot traffic and enhancing its appeal to potential tenants.
- Recent Improvements Include New Roof in 2024
- Landlord reports a new TPO roof was installed in June 2024 and carries a 20-year transferrable guarantee.
- Dense Retail Trade Area
- Located in a dense retail trade area, the center is in close proximity to complementary businesses and residential neighborhoods. Approximately 1.5 miles from North Plains Mall, the only enclosed regional mall within a 95-mile radius.
- City is a Regional Hub to 120,000+ People
- Clovis is also home to Cannon Air Force Base, with approximately 5,900 active duty military and civilian personnel.
