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Hillcrest Complex 1104 Grand Ave 10,559 SF 100% Leased Retail Building Las Vegas, NM 87701 $2,186,920 CAD ($207.11 CAD/SF) 10.13% Cap Rate
Investment Highlights
- Income-producing property with restaurant, apartment, saloon, and event center, in business since 1975 with the current owners
- Easy access off Interstate I 25 with 3 Exits
Executive Summary
In Historic Las Vegas, NM sits the Hillcrest Complex on Grand Ave, the main corridor through Las Vegas. Since 1949 people have been meeting friends at the Hillcrest which serves a variety of food. The Hillcrest Main Building includes the coffee shop, lunch and dining area. The kitchen galley is between the Coffee Shop and the Flamingo Dining Room which has an entrance from the parking lot. The Flamingo Room lends itself to larger gatherings or Banquets. Upstairs you have a three-bedroom Apartment. The Main Building has a full basement with exterior exit for deliveries. Attached to the Main Building is the Trading Post Saloon where people gather for an afternoon drink, with an Outdoor Patio Area. If you want to book a graduation, wedding venue, walk across the ample parking lot to the Grand Street Station for your private party or reunion, with catering done by the Hillcrest. Liquor License included, that can be used for special events, as a picnic license, approved by the City of Las Vegas. This opportunity is not to be missed, if you are looking for a well-established income producing business this Complex might be the one. Las Vegas, New Mexico is a Small Historic Community: Higher Education with Highlands University, Luna Vocational Technical and United World College. A Small Airport, Hospital, with Businesses to meet every day needs. Easy access off Interstate I 25 with 3 Exits. To the South of Las Vegas is Santa Fe, NM approximately one hour and to the North...the Colorado border approximately 3 hours. The I 25 Interstate from Canada- Phoenix through Denver Parallels Grand Ave. Have a question, please call. Cap Rate 9% SQUARE FOOTAGE FROM ASSESOR
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
10,559 SF
Building Class
B
Year Built
1949
Price
$2,186,920 CAD
Price Per SF
$207.11 CAD
Cap Rate
10.13%
NOI
$221,564 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.30
Lot Size
0.81 AC
Zoning
C3 - C3
Frontage
240’ on GRAND AVE
Amenities
- Restaurant
- Security System
- Accent Lighting
- Storage Space
- Air Conditioning
Somewhat walkable
30/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 63700 | Improvements Assessment | $183,917 CAD |
| Land Assessment | $61,587 CAD | Total Assessment | $245,504 CAD |
Property Taxes
Parcel Number
63700
Land Assessment
$61,587 CAD
Improvements Assessment
$183,917 CAD
Total Assessment
$245,504 CAD
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Presented by
Duke Realty Group
Hillcrest Complex | 1104 Grand Ave
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