2324 W Pierce St, Carlsbad, NM 88220

Property Description

Prime Investment opportunity in Carlsbad featuring two commercial buildings totaling 19,628 square feet, both secured with newly executed triple net (NNN) leases that include annual rental increases-providing immediate, stable cash flow. The 8,428 SF office building is well-appointed with a professional lobby, full kitchen, two sets of restrooms, 24 private offices, four large conference rooms, and multiple storage areas- ideal for administrative or corporate use. The adjacent 11,200 SF building functions as a climate-controlled medical warehouse, offering specialized infrastructure for long-term tenant retention. Both properties have been updated and offer ample on-site parking, enhancing tenant satisfaction and usability. Priced to deliver approximately a 9% cap rate, this asset presents a compelling blend of strong in-place income, quality improvements, and long-term lease security in a high-demand commercial corridor.