1509 E Santa Fe Ave - Freestanding FOR SALE


Grants, NM 87020
$4,878,769 USD
201-919-6148
1509 E Santa Fe Ave, Grants, NM for Sale
$4,878,769 USD
Freestanding - FOR SALE
1/1
null | 6.5% Cap Rate

1509 E Santa Fe Ave
Grants, NM 87020


HIGHLIGHTS

  • Long-Term Operating History & Commitment Through Sale-Leaseback
  • Rare, Absolute NNN Lease with Rental Escalations
  • Strong Performing Location w/ Drive-Thru
  • Large Lot Size
  • No Pharmacy Competition - Only Walgreens within 75 Mile Radius
  • Close Proximity to Walmart & Interstate 40/Route 66

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in the Walgreens asset located in Grants, NM (“The Property”). The Property consists of a ±16,419 square foot freestanding building, on a 4.25 acre parcel of land. Walgreens recently executed a 15-year saleleaseback, reaffirming the strength of this location and their long-term commitment despite broader company headwinds. Additionally, Walgreens has consistently reported strong sales at this location and the lease is an Absolute NNN Lease with no landlord responsibilities. See Lease Abstract for full details. The Property benefits from outstanding visibility fronting E Santa Fe Ave and is located at the Santa Fe Ave and Interstate 40/Route 66 interchange. Surrounding national retailers include Walmart, Tractor Supply, Dollar Tree, Taco Bell, Denny’s, Dairy Queen, and Subway. An original build to suit for Walgreens in 2014, the Property features Walgreens’ newer prototype with a drive-thru pharmacy.

FOR SALE DETAILS

PRICE

$4,878,769 USD

PRICE/SF

$297 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.25 AC

LAND SF

185,130 SF

ZONING

-

APN/PARCEL ID

R14319

ASK ABOUT THIS PROPERTY

Christian TremblayNorthmarqMore Info
201-919-6148

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Christian TremblayNorthmarqMore Info
201-919-6148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.