900 E Manana Blvd, Clovis, NM 88101

Offering Summary:

Building: +-23,501 sf (124’ x 185’)

Year constructed: 1998 as a build to suit for OfficeMax

Property size: +-2.11 acres

Sale Price: $2,488,235 ($105 psf)

Cap Rate: 8.5%

Tenant: Office Depot Stores, Inc.

Remaining term: Approximately 2 years

Current Rent: $9.00psf, NNN

Landlord

responsibilities: Roof and structure

Intersection: NEQ of N. Prince at E. Manana Blvd

Zoning: Commercial General (CG), City of Clovis

Sub-market: North Plains Mall, N. Prince corridor

Property Overview:

The City of Clovis is located along the eastern boundary of central New Mexico and is 5 miles from the state line with Texas. The immediate trade area is within an approximate 25 mile radius of the subject property. This means both New Mexicans and Texans are included as part of the economic power of the City.

Clovis is one of New Mexico’s “Economic Islands” because it is the center for retail goods, services, medical, government, education, restaurants, entertainment, and hospitality for miles around.

For example, Albuquerque, NM is over 200 miles to the west. Lubbock, TX is 100 miles to the southeast and Amarillo is 120 miles to the northeast.

The immediate trade area population is 68,000 residents. This population base is the 25 mile radius (an approximate 35 minute drive) and 26,400 households, with an average income of $72,800 per year. This consumer base is larger than the population of Roswell and or Hobbs, NM.

Extended trade area population is over 100,000 residents. The extended trade area encompasses nine counties and contains a population over 100,000 residents.

A younger population and larger household size. These two unique demographic indicators reflect the up and coming nature of the community. The average age of the population at 33.2 years is 6 years or 16% younger than the average age of residents in New Mexico (39.9 years). Then the average household size is larger than typical for New Mexico. The average HH size for the Clovis trade area is 2.53 persons.