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2001 N Prince St
Clovis, NM 88101
Asking Price
$3.36M
Cap Rate
7.3%
Asset Type
Shopping Center Retail
Class
Class B
What's Special
Hobby Lobby | Recent Lease Extension <ul><li>Recent Lease Extension - 8.5 Years Remaining – 20+ Year Operating History</li><li>Strong Rent Increases Every 5 Years – 11% in 2029 & 15% in First Option</li><li>Limited Landlord Responsibilities – Roof & Structural Component</li><li>Roof Replaced in 2022 - 20 Year Roof Warranty</li><li>Low Annual Rent of $4.25 PSF - Below Replacement Cost at $58 PSF</li><li>57,703 SF Building – Ample Parking Spaces – Excellent Ingress & Egress</li><li>Largest Privately Owned Arts & Crafts Retaile
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NOI
$80,000
Cap Rate
2.38%
DSCR
0.40
Underwater
Cash-on-Cash
-11.85%
Monthly Payment
$16,623.447
Annual Cash Flow
$-119,481.361
