Medical Office For Sale - 1160 Mall Drive

Office for Sale
Catylist Listing ID: 28283511
Property Subtypes: Medical, Net Leased, Office Building
Building Size (RSF): 6,354 SF
Gross Building Area: See Agent
Gross Land Area: 21,780 SF
Sale Price: $857,790
Unit Price: $135 PSF
Property Use Type: Investment
Class of Space: Class A
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 7/19/2017

Overview / Comments

A very functional stand alone medical facility available for sale or lease. Currently occupied by one tenant, the facility has the ability to be divided into two separate suites. Located just off Telshor Blvd between Memorial Medical Center and Mountain View Hospital. Please also see other possibilities in same corridor: 1121 Mall Drive, 1141 Mall Drive and 1180 Mall Drive - all properties can be combined as one sale as they are held by the same ownership.

Financials

Finance Data Year 2011
Real Estate Taxes - Annual($) $7,226 (Annual)
Tax Value Land $147,000
Tax Value Improvements $535,703
Assessed Value - Total($) $682,703 (Annual)
Gross Operating Income $130,845 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Las Cruces Physician Practices
Is Renting? Yes
SF of Space Occupied 6,354 SF
Current Rent $16 PSF (Annual)
Lease Expiration 12/2013
Options Four (4) One (1) year options at CPI increase.
Tenant Notes Tenant pays property taxes and insurance, HVAC maintenance contract and interior general maintenance. Landlord is responsible for exterior maintenance and common area.

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Tax ID/APN: 02-17972
Zoning: C-3
Market Type: Medium
Property Located Between: Espina and Telshor on Mall Drive
Side of Street: West
Road Type: Paved
Property Visibility: Good
Highway Access: Close proximity to I-25, I-10 & Hwy 70
Airports: El Paso International Airport
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1998
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,677 69,106 106,105
Median Age: 30.32 33.89 34.86
Households: 7,054 28,514 42,538

Source

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