I25 @ US 70 is aland property for lease in Las Cruces, NM.
Listing stop 11/24/053.68 Acre Commercial Parcel
LAND FOR SALE
PARCEL SIZE: 3.68± ACRES
LOCATION: I-25 @ U.S. HIGHWAY 70
ZONING: C-2; Commercial
SALES PRICE: $1,509,0401.
ALLOCATION OF PURCHASE PRICE:
TOWER LEASE: $150,000.
SITE ENGINEERING: $95,000.
- Land valued @ $7.88 Per Square Foot
- A Lease Agreement and Options with Verizon Wireless for a
telecommunications tower placed on the parcel provides annual income of
$12,000. with provisions for lease extensions and incremental rental
increases. The $150,000 value of this lease is based on a capitalization
rate of 8.5%
- The $95,000. includes cost of a Site Engineering study, creation of site
ponding area and two curb cuts on Bataan Memorial West
- Additional access is provided through a right-of-way easement running
from Del Rey Boulevard through the Del Rey Plaza Shopping Center to the
Easterly edge of the property
Located in northeast Las Cruces, the fastest growing section of he city.
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