Rockridge Plaza
Heavy Value-Add Retail Center : 80% Occupied : 11.14% Pro Forma CAP : Priced at $72 PSF : Metal Roof
Marketing description
Rockridge Plaza is a heavy value-add, multi-tenant retail center located in the heart of Clovis, New Mexico. The property spans 50,763 square feet across a 3.3-acre parcel and is currently 80% occupied, anchored by a newly signed seven-year lease with Ollie’s Bargain Outlet, a nationally recognized discount retailer occupying 59 percent of the gross leasable area. The remaining tenancy includes one operating local tenant (Java Loft Coffee Shop), while additional square footage is either vacant or occupied by a non-rent-paying tenant (Guadalajara Restaurant), offering significant lease-up potential and net operating income upside.
Situated in Curry County, a key regional hub in Eastern New Mexico, the property enjoys a highly visible and accessible location along East 21st Street (Airport Highway), a primary retail and commuter thoroughfare. The site is just two blocks from North Plains Mall, the only enclosed regional mall within a 95-mile radius, and is surrounded by major national retailers, grocers, and service providers that help draw consistent daily traffic.
Investment highlights
HEAVY VALUE-ADD RETAIL OPPORTUNITY | PRO FORMA CAP RATE IS 11.14%
The asset offers immediate upside through the lease-up of approximately 10,191 square feet of vacant space and repositioning of 8,400 square feet currently occupied by a tenant not paying their obligated rent per lease terms.
ANCHORED BY A NEW 7-YEAR LEASE WITH OLLIE’S BARGAIN OUTLET
Ollie’s, a nationally recognized discount retailer, recently signed a seven-year lease for nearly 59% of the gross leasable area, providing stable long-term income and drawing consistent foot traffic to the center.
BUILDING HAS A METAL ROOF | SITUATED ON A LARGE 3.3-ACRE PARCEL WITH AMPLE PARKING
The property benefits from an efficient site plan with generous parking, wide drive aisles, and multiple points of ingress/egress, supporting strong tenant accessibility and potential future reconfiguration.
PRIME RETAIL LOCATION WITHIN DENSE TRADE AREA
Located just two block south of North Plains Mall, the region's only enclosed mall within a 95-mile radius, the property sits in one of Clovis’ busiest retail corridors, surrounded by national retailers, grocers, and service-based tenants that drive daily visits and cross-shopping traffic.
REGIONAL ECONOMIC HUB WITH STRONG DEMAND DRIVERS
Clovis is the primary retail, education, and healthcare center for over 120,000 residents across Eastern New Mexico and West Texas. The city also benefits from proximity to Cannon Air Force Base, a major employer and source of consistent consumer spending.
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