Indian Wells Blvd @ Scenic Drive
Potential Uses
Restaurant - Fast Food/Dining/Brewing, Entertainment, Retail - Freestanding, Retail - Convenience Store, Retail - Grocery Store/Supermarket, Retail - Strip Mall/Shopping Center, Automobile Dealership, Automotive Services, Hospitality - Hotel/Motel, Assisted Living - Nursing Home, Bank/Financial Institution, Offices, Professional Offices, Doctors Office, Pharmacy, Medical Services, Residential - Apartments/Multi-Family, Church/Worship, Government
Property Description
The north east corner of the intersection of two of the major arterial thoroughfares in Alamogordo, Indian Wells Blvd. and Scenic Drive, is one of the most diverse building sites in the city. Located at the top of Indian Wells Blvd., this 5.3 acres offers a panoramic view of the Tularosa basin and the White Sands National Park to the west, and the rugged Sacramento Mountains to the east. It will be an architects delight to develop, because of these extraordinary views. And its gentle slope from its uppermost easterly boundary, West, to scenic Drive, will give buildings throughout this site, equally-breathtaking views.
Some of Alamogordo‘s most important institutions neighbor this property: the New Mexico Museum of Space History, the Tays Special Events Center, the Alamogordo branch of New Mexico State University and Gerald Champion Regional Medical Center. Gerald Champion Regional Medical Center was recently purchased by Christus Health, and employs 1,300 people. The traffic and the business generated by these institutions add to the diverse development potential this 5.3 acres, 230,000 ft.², offers. And as one drives east on Scenic Drive, approaching this property, one will pass the very popular Walmart Neighborhood Market and numerous medical offices.
It is entirely possible that no other building site in Alamogordo offers this much opportunity from its diversity of development.
This property is covered by three Otero County Assessor property accounts, R010333, R019111 and R020281. The 5.3 acres is available for purchase at a price of $7.50 per square foot, $1,750,000. It is also available on an unsubordinated ground lease at a base lease rate of $11,000 per month.
Property Size
5.3 acres, 230,850 SF with 200 feet of frontage on Scenic Drive and 750 feet of frontage on Indian Wells Blvd.
Price
$1,750,000
Utilities
Three phase electricity provided by PNM, sewer and water provided by the City of Alamogordo, and telephone are on the property. Natural gas, provided by the Gas Company of New Mexico, is in the immediate area. AS one moves over this property to the east, the elevation gradually increases, providing excellent drainage to the sewer line near Scenic Drive, its west boundary.
Zoning
All of this 5.3 acre tract except the east five percent of the property is zoned C-3 commercial. The east end of the property is zoned R-4 allowing multi-family and professional offices.
Access & Easements
Access is by Indian Wells Blvd and Scenic Drive. A north-south utility easement parallels Scenic Drive, approximately 150 feet to the east.
Flood Zone
This property is Flood Zone X. This property benefits from a major north-south flood control channel located just east of its easterly boundary.
Neighbors
This 230,000 SF building site has some of the City’s most important institutions as its neighbors: the New Mexico Museum of Space History, the Tays Special Events Center, the Alamogordo branch of New Mexico State University and Gerald Champion Regional Medical Center. Gerald Champion Regional Medical Center was recently purchased by Christus Health, and employs 1,300 people.
Detriments
750 feet of the south boundary of this overall 5.3 acre tract fronts on Indian Wells Blvd, one of Alamogordo’s major arterial thoroughfares, which originates at White Sands Blvd, (US Highways 54, 70 and 82). However only the first approximately 150 feet of Indian Wells has been paved. The remainder would have to be paved to fully-develop this property.
Significant Benefits
1) The stand-out location of this property at this key intersection near the New Mexico Museum of Space History, the Tays Special Events Center, the Alamogordo branch of New Mexico State University and Gerald Champion Regional Medical Center makes this property desirable for many development purposes.
2) Scenic Drive is one of Alamogordo’s two primary north-south arterial thoroughfares; Indian Wells Blvd is one of the city’s three major east-west arterials.
3) The New Mexico Museum of Space History receives over a quarter million visitors yearly. An attractive building on this corner will capture their attention for your commercial benefit.
4) With its close proximity to the Gerald Champion Regional Medical Center, this acreage is ideal for subdivision and development into medical and professional office building sites.
5) Physical therapy facilities and numerous medical offices are on Indian Wells Blvd, west of this property.
6) Walmart Neighborhood Market, ¼ mile to the west, is very popular.
7) This corner location is also well suited for retail, convenience store, restaurant and multi-family development. Current zoning allows all these uses.
8) Architecturally, this site offers panoramic views in all directions. White Sands National Park is even visible to the west.
For a single sale, the property is priced at $7.50/SF, $1,750,000, or it is available to develop at a base lease rate of $9,500/month on an unsubordinated ground lease. Owner will consider dividing the 5.3 acres at a price to-be-determined.
