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Listed by Exp Realty, LLC
$ 889,000
Est. payment | /mo
0.73 Acres Lot
$ 889,000
Est. payment | /mo
0.73 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20260967
HOA Y/N No
Year Built 1932
Annual Tax Amount $3,528
Lot Size 0.730 Acres
Acres 0.73
Source NMMLS
Property Description
Prime Downtown Clovis New Mexico Investment Opportunity | Stabilized Income with Significant Value-Add Potential. Positioned just steps from the courthouse in the heart of town, this 12,400 square foot two-unit commercial property offers immediate cash flow with substantial upside. Ideal for investors seeking strong returns or owner-users looking for a flagship location, this asset combines stability, scale, and opportunity. Unit 1 consists of a 6,700 square foot professional office complex currently leased to the Public Defenders Office on a 15-year lease through 2037, with an option extending to 2042. The lease renews annually on June 1 with 3% increases, with the lessor responsible for utilities, insurance, and taxes. Even with only one unit occupied, the property is producing approximately an 8% cap rate. Recent improvements include replacement of all three HVAC units and fresh exterior paint. The space is in excellent condition and includes a secure public entry and waiting area, two public restrooms, three reception areas, fifteen private offices, four records/storage rooms, two employee restrooms, a board room, meeting room, and a kitchen/breakroom with stove, oven, refrigerator, microwave, and sink. The property also provides 27 off-street parking spaces. Unit 2 is a 5,700 square foot historic 1930s brick building full of character and ready for renovation. Featuring hardwood floors, high ceilings, fireplaces, and an open floor plan, this space presents a compelling value-add opportunity. Its proximity to the courthouse makes it well suited for professional office use such as a religious institution, private law firm, mediation center, title company, CPA or financial services office, bail bonds, consulting firm, or co-working space. The buildings classic brick architecture and downtown presence also lend themselves to creative repositioning as a restaurant, bar, event venue, boutique retail space, or specialty business seeking a distinctive. Includes 17 off-street parking spaces. This property offers a rare combination of long-term government tenancy, built-in annual rent increases, ample parking, and untapped potential in a prime downtown setting. With stabilized income already in place and significant room to increase NOI through renovation and lease-up of Unit 2, this is a strategic investment opportunity in the Clovis commercial market. Additional financial details available.
Location
State NM
County Curry
Interior
Interior Features Audio/Video Surveillance
Exterior
View Y/N false
Private Pool No
Others
Tax ID 121101129005000
Virtual Tour https://Virtual Tour
Mindy Longmire
Owner/Qualifying Broker | License ID: NM19417
+1(575) 626-5411 | mindy@dynamicpropertiesofnm.com