70 NM-371 - Freestanding FOR SALE


Thoreau, NM 87323
$852,544 USD
248-419-3657
70 NM-371, Thoreau, NM for Sale
$852,544 USD
Freestanding - FOR SALE
1/7
null | 9% Cap Rate

70 NM-371
Thoreau, NM 87323


HIGHLIGHTS

  • Double Net (NN) Lease | Minimal Landlord Responsibilities
  • Recently Extended Primary Term Proving Commitment to the Site
  • Located in an Opportunity Zone!
  • 4 (5 Year) Options to Renew | 10% Rental Increases at Each Option
  • 3 Mile Household Income $41,524
  • 10 Mile Population 3,945

OVERVIEW

Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Thoreau, New Mexico - located in an Opportunity Zone! This store was rebuilt in 2015. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. Tenant is responsible for the HVAC system. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed which holds a credit rating of “BBB”, which is classi?ed as Investment Grade. The store is currently open and has been operating successfully since July 2008. It performs in the top 1/3 of all Family Dollar stores in the state. This Family Dollar is highly visible as it is strategically positioned off of I-40 which sees 20,010 cars per day, on NM-371 which sees 4,124 cars per day. It is conveniently located on the main thoroughfare surrounded by local schools, residential, & other retailers. The 10 mile population from the site is 3,945 while the 3 mile average household income is$41,524 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the ?nancial strength and the proven pro?tability of the tenant, one of the nation’s top dollar stores. List price re?ects a 9% cap rate based on NOI of $76,729. Owner is a license New Mexico Real Estate Broker.

FOR SALE DETAILS

PRICE

$852,544 USD

PRICE/SF

$93 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

Commercial

APN/PARCEL ID

R300777

ASK ABOUT THIS PROPERTY

Andrew BenderFortis Net LeaseMore Info
248-419-3657

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Andrew BenderFortis Net LeaseMore Info
248-419-3657

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