Commercial Land for Sale in Las Vegas, New Mexico
206-250 Mills Ave Las Vegas, NM 87701
Mills Plaza offers investors the unique opportuinty 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 36.2%. 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.
Directions
From Santa Fe, get onto I-25 N. Continue for 60 miles. Take exit 343 toward NM-283/I-25 BUS/NM-329/Las Vegas. Turn left onto I-25BL. Turn left onto New Mexico Ave. Continue onto Church St. Continue onto Mills Ave. Turn left into the parking lot.
Location
- Street Address
- 206-250 Mills Ave
- County
- San Miguel County
- Elevation
- 6,473 feet
Property details
- Zoning
- NR
- MLS Number
- SWMLS 1061334
- Date Posted
Parcels
- 1-094-093-179-250
Detailed attributes
Listing
- Type
- Commercial Sale
- Subtype
- Retail
Structure
- Stories
- 1
- Materials
- Stucco
Exterior
- Parking Spots
- 140
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Dec 12, 2024 | Price drop | $5,900,000 | $400,000 -6.3% | SWMLS |
| Apr 25, 2024 | New listing | $6,300,000 | — | SWMLS |
