New 10-Year Lease Extension Executed – The tenant recently executed a new 10-year lease extension commencing July 1, 2026, demonstrating a long-term commitment to the location and providing investors with extended income stability and reduced near-term rollover risk.
3% Annual Rent Escalations – The lease structure includes 3% annual rent increases, providing consistent income growth throughout the lease term and serving as a strong hedge against inflation.
Recent Capital Improvements Reduce Near-Term CapEx – The property has undergone significant recent improvements including a new roof, two new HVAC systems, parking lot repairs, approximately $45,000 in interior upgrades, and new exterior paint, significantly reducing the likelihood of near-term capital expenditure requirements.
Located in Las Cruces, NM, the 2nd Largest City in New Mexico – The property is positioned in Las Cruces, a growing regional hub and the second largest city in New Mexico, and benefits from its proximity to New Mexico State University, which is less than one mile away and enrolls more than 15,000 students.
Positioned Within an Established Medical Park – The property is located within a large and established medical park surrounded by healthcare providers, professional offices, and service-oriented tenants, creating a strong daytime population and supporting long-term tenant demand.
Corporate Tenant with 85+ Locations Nationwide – The lease is executed by Choice Healthcare Services, a healthcare operator with approximately 85 locations across the United States, indicating operational scale and experience in the sector.