723 N New York Ave

Absolute Investment Realty is pleased to present this opportunity to acquire a rare single-tenant government leased building in Alamogordo, NM.

The property is 100% leased to New Mexico Corrections Department on a 10-year lease. A complete remodel of the building and property was completed in September 2024. The tenant took occupancy beginning October 2024.

The property is located just off the main road in Alamogordo NM, just east of Holloman AFB and White Sands National Monument and Missile Range.

The Tenant of this  Property is the State of New Mexico, Corrections Department and Adult Probation and Parole Division.  The Tenant entered into a 10-year lease commencing October 1, 2024.

The Tenant reimburses Landlord, on a monthly basis, in the amount of $4,124.04 for Tenant Improvement allowance over the initial 10 year term., for a total reimbursement of $494,884.20. The Monthly.

The Tenant reimburses Landlord for monthly operating expenses (including utilities, janitorial, building maintenance, property taxes, insurance)  in the amount of $1,833.30 (escalating 2.50% per year).

Please refer to the Lease for details. Lease available upon executed CA.

•10 Year Lease to the State of New Mexico Corrections Department

•Fresh complete remodel to suit Tenant completed Sept 2024.

•Stable community with strong long-term employment bases (Holloman AFB & White Sands Missile Range)