506 W Highway 66 - Convenience Store FOR SALE


Milan, NM 87021
$1,255,806 USD
586-350-8798
506 W Highway 66, Milan, NM for Sale
$1,255,806 USD
Convenience Store - FOR SALE
1/3
null | 7.75% Cap Rate

506 W Highway 66
Milan, NM 87021


OVERVIEW

Tenant: Dollar General has recently exercised a 5-year lease extension, demonstrating long-term commitment to the site. The lease includes 10% rental increases in each option period, providing strong built-in NOI growth. Lease Structure: Absolute NNN lease with zero landlord responsibilities, offering a truly passive investment. Tenant is responsible for all taxes, insurance, and maintenance, eliminating ownership risk. Traffic Counts: The property benefits from strong visibility with 15,916 vehicles per day. High traffic exposure supports consistent store performance and long-term tenant stability. Demographics: Over 13,139 people reside within a 5-mile radius, providing a solid consumer base. The surrounding population supports daily-needs retail and repeat visitation. Building Size: The 9,026 SF prototype store is a proven, efficient layout for Dollar General operations. This size aligns with the tenant’s most successful and widely utilized store format. Year Built: Constructed in 2011, the property offers relatively modern improvements with limited near-term capital needs. Newer vintage reduces risk compared to older Dollar General assets.

FOR SALE DETAILS

PRICE

$1,255,806 USD

PRICE/SF

$139 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

C

APN/PARCEL ID

R22387

ASK ABOUT THIS PROPERTY

Joe ShamounElevate Net Lease AdvisorsMore Info
586-350-8798

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Joe ShamounElevate Net Lease AdvisorsMore Info
586-350-8798

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