RARE MESILLA RESTAURANT/BAR & DUPLEX IN THE MIDST OF IT ALL!
Retail-Commercial
for Sale
Also listed as Multi-Family
| Catylist Listing ID: |
30662963 |
| Property Subtypes: |
Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
|
| Building Size (RSF): |
4,035 SF
|
| Gross Building Area: |
4,043 SF |
| Gross Land Area: |
6,765 SF
|
| Sale Price: |
$700,000 |
| Unit Price: |
$173.48 PSF |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
7/11/2021 |
Overview / Comments
|
If you are a believer in the Town of Mesilla, and frankly it is really hard to not be a fan, this is definitely something you should buy. This is a unique opportunity with a lot of flexibility pending a parties investment intent. The property consists of a 2000+ SQFT full service restaurant with a generous patio and available parking. It also has a duplex unit to the rear of the location for additional income potential. The location has great visibility and is within a comfortable walking distance to all significant Mesilla landmarks and destinations. More importantly, this site is beyond accessible to the most affluent demographics and housing base in all of Mesilla and Mesilla Park. Business establishment and retail concepts that are near this location have thrived for many years and continue to do so with numerous recent wins in terms of new establishments. The immediate area simply keeps the local residents craving more unique options. No other corridor in all of the Las Cruces MSA attracts a more unique customer base than Mesilla. It routinely has a trade range that goes well beyond residents and business that are five minutes away. Potential customers include but are not limited to travelers, tourists, and regional residents that are craving a Mesilla recreational experience that will definitely make a site like this part of rotation. This being said the site is immediately surrounded by 400+ business establishments within 5 minutes of the site that employs 5900+ individuals. You can definitely create both a local and expansive relationship with the local and regional community. Forty percent of the immediate area is college educated with an additional 30 percent of the 5 minute population having some level of advanced or college education. The immediate area incomes per household are some of the highest in the area. The typical resident by a high percentage has a substantial net worth and income supported by investments. The majority of residents are singles or professional couples who have a limited household size and good discretionary income. A more detailed analysis also indicates a $300,000+ food and beverage gap within 5 minutes of the site and a $900,000+ gap for unique small grocery concepts. The site simply screams that something unique could play very well in the neighborhood and beyond. The existing operator at the site is still in business and has been there for almost 5 years. They have recently renewed their lease for another 5 years at the site, but the existing lease allows for flexibility in termination. The existing operator runs a solid business, but the current ownership simply desires to sell and would like to keep their options open pending the buyer's potential intent. This is great opportunity to discuss and we look forward to your inquiries.
|
Additional Details
| Nearest MSA: |
Las Cruces |
| County: |
Dona Ana |
| Taxing Authority: |
Dona Ana County |
| Tax ID/APN: |
4006138196026 |
| Retail Clientele: |
General, Business, Traveler, Tourist, Recreation, Convention, Other |
| Property Visibility: |
Good |
| Airports: |
ELP & Las Cruces International |
| Total Number of Buildings: |
2 |
| Number of Stories: |
1 |
| Property Condition: |
Good |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,811 |
37,835 |
89,883 |
| Median Age: |
39.9 |
32.85 |
34.84 |
| Households: |
1,203 |
15,284 |
36,098 |
|
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Neither Commercial Association of REALTORS® New Mexico nor
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