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425 Pinon St is amulti-family property for lease in Las Cruces, NM. The property currently has 1 multi-family space for lease and is marketed by Steinborn/TCN Commercial Real Estate.
Are you looking to remodel or redevelop a property with a sense of style? Are you also in to properties that simply have that "cool" factor? If you are seeking this type of dynamic in a prime downtown location you just have to take a look at this site as the redevelopment opportunities are clearly evident. This is a highly visible multi-family property in a unique historic district. A community park exists directly in front of the location and properties adjacent to this are also up for a purchase discussion which could make expansion and the leverage factor very unique. The allowed use gamut and visibility could also lend itself well to unique community based project and desirable mixed use environment. You just have to see this location to get a vision for sure. The location is so visible and adjacent to uses that might allowed for increased zoning uses via a targeted zone change which would further enhance the experience. The current income is solid generating $1,300 monthly with four existing stand alone units in place generating an average per unit rent of $450. Development in the surrounding area is expanding and getting better all the time in lieu of a major community focus to revitalize the historic district in question and the ongoing revitalization of the Las Cruces Downtown market segment. The location is easily within walking distance of all the major attraction developing with quick access to general merchandise retail, numerous restaurants and major downtown local attractions. This one is possibly a "can't miss" for unique real estate investors. Give us a call today.
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