Hillcrest Complex 1104 Grand Ave

Investment Highlights

INCOME PRODUCING PROPERTY WITH RESTAURANT APARTMENT SALOON AND EVENT CENTER, IN BUSINESS SINCE 1975 WITH PRESENT OWNERS!

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. The Sellers have also included a vacant lot on the back of the property for your further growth. 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

• Sale Type    Investment or Owner User
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    10,000
• Year Built    1949
• Price    1,800,000
• Price Per SF    180
• Cap Rate    9
• NOI    162,000
• Percent Leased    100
• Building Height    3 Stories
• Building FAR    0.28
• Land Acres    0.81 AC

• Restaurant
• Security System
• Accent Lighting
• Storage Space
• Air Conditioning