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Sportsman's Warehouse 2230 N Telshor Blvd 26,763 SF Retail Building Las Cruces, NM 88011 $6,700,000 ($250.35/SF) 6.99% Cap Rate
Investment Highlights
- Fresh 10-Year Term With Fixed Rental Increases
- Frontage along I-25 and N. Telshor Blvd. with combined traffic counts of ±63,137 VPD
- Nearby national co-tenants include Sam’s Club, Lowe’s, Kohl’s, Telshor Allen Theatres, and Starbucks
- Sportsman’s Warehouse is publicly traded (NASDAQ: SPWH)
- Excellent visibility and pylon signage from US-70 Freeway (±40,474 VPD)
Executive Summary
Colliers is pleased to exclusively represent a single-tenant, net-leased Sportsman’s Warehouse located in Las Cruces, NM. This ±26,763 SF freestanding building is strategically located off of the I-25 and N. Telshor Boulevard with combined traffic counts of ±63,137 VPD. Sportsman’s Warehouse (NASDAQ: SPWH) is an outdoor specialty retailer that carries outdoor sporting gear, gunsmithing, and supplies for camping, hiking and birdwatching.
The property benefits from a recently renewed NNN lease for a fresh 10-year term, and two (2) 5-Year options with fixed rent increases. With excellent access, signage, and visibility, the trade area is surrounded by well-recognized national co-tenants such as Sam’s Club, Lowe’s, Kohl’s, Telshor Allen Theatres, Starbucks, and several Hilton and Marriott hotels.
The subject property services ±160,329 residents with an average annual household income of ±$83,074 within a 10-mile radius and is located in one of the most vital shopping and business districts in the region. The asset is just 4-miles away from New Mexico State University (±15,400 students) and the Pan American Center with ±13,140 stadium capacity.
The El Paso-Las Cruces MSA is a vibrant part of the local economic region and boasts a combined population of over ±2.7 million residents and more than $45 billion in annual GDP.
The property benefits from a recently renewed NNN lease for a fresh 10-year term, and two (2) 5-Year options with fixed rent increases. With excellent access, signage, and visibility, the trade area is surrounded by well-recognized national co-tenants such as Sam’s Club, Lowe’s, Kohl’s, Telshor Allen Theatres, Starbucks, and several Hilton and Marriott hotels.
The subject property services ±160,329 residents with an average annual household income of ±$83,074 within a 10-mile radius and is located in one of the most vital shopping and business districts in the region. The asset is just 4-miles away from New Mexico State University (±15,400 students) and the Pan American Center with ±13,140 stadium capacity.
The El Paso-Las Cruces MSA is a vibrant part of the local economic region and boasts a combined population of over ±2.7 million residents and more than $45 billion in annual GDP.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
26,763 SF
Building Class
B
Year Built
2016
Price
$6,700,000
Price Per SF
$250.35
Cap Rate
6.99%
NOI
$468,620
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
2.52 AC
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-08455 | Improvements Assessment | $632,623 |
| Land Assessment | $256,286 | Total Assessment | $888,909 |
Property Taxes
Parcel Number
02-08455
Land Assessment
$256,286
Improvements Assessment
$632,623
Total Assessment
$888,909
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Sportsman's Warehouse | 2230 N Telshor Blvd
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