701 N 5th St - Freestanding FOR SALE


Estancia, NM 87016
$619,994 USD
248-419-3657
701 N 5th St, Estancia, NM for Sale
$619,994 USD
Freestanding - FOR SALE
1/6
null | 10% Cap Rate

701 N 5th St
Estancia, NM 87016


HIGHLIGHTS

  • Double Net (NN) Lease | Minimal Landlord Responsibilities
  • Additional Vacant Land North of Paved Parking Lot 
  • Recently Extended Primary Term Proving Commitment to the Site
  • Located in an Opportunity Zone!
  • 3,911 VPD on 5th Street
  • Essential Retailer | On Main Thoroughfare

OVERVIEW

Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Estancia, New Mexico - located in an Opportunity Zone in the Albuquerque Market! The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. Tenant is responsible for 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. This Family Dollar is highly visible as it is strategically positioned on 5th Street which sees 3,911 cars per day. It is conveniently located on the main thoroughfare through town, next to the High School & across the street from Estancia Municipal Airport. The 10 mile population from the site is 3,029 while the 3 mile average household income is$46,605 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 9.23% cap rate based on NOI of $59,978. Owner is a licensed New Mexico Real Estate Broker.

FOR SALE DETAILS

PRICE

$619,994 USD

PRICE/SF

$68 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

R000050801

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.