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Listed by Found Real Estate
$ 678,000
Est. payment /mo
Active
1111 S LEECH ST Hobbs, NM 88240
0.43 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20262367
HOA Y/N No
Year Built 1970
Annual Tax Amount $7,796
Lot Size 0.430 Acres
Acres 0.43
Property Sub-Type Industrial
Source NMMLS
Property Description
Cintas-occupied industrial investment opportunity in Hobbs, New Mexico, offered at $678,000. The property combines an established national tenant, more than 20 years of continuous occupancy, recent capital improvements, fenced industrial space and rail infrastructure immediately behind the property. Cintas has occupied this location continuously since 2005 and currently pays $5,650 per month, representing $67,800 in annual base rent. The current lease runs through July 2027, with renewal discussions anticipated to begin in early 2027. The lease is reported as triple net, with the landlord retaining certain insurance obligations. Prospective purchasers should review the existing lease for complete terms and expense responsibilities. Significant improvements were completed in 2026, including new electrical, new plumbing and a new concrete loading dock. The property also features a fenced yard and functional loading and operational areas suitable for industrial use. A rail spur is located directly behind the property, providing potential strategic value for industrial and distribution users. Buyer should independently verify rail access, service availability and use rights. Cintas' occupancy since 2005 provides a substantial operating history at this location. The July 2027 lease expiration also creates potential upside for a purchaser through lease renewal, renegotiation or future repositioning. The adjacent 11,400 SF warehouse at 1119 S Leech Street is also offered for sale at $299,000. Seller will consider a package transaction for both properties, creating an opportunity to acquire adjacent industrial assets with approximately 22,000+ SF of combined building area.
Location
State NM
County Lea
Exterior
View Y/N false
Private Pool No
Others
Tax ID 4000706220001