1266 Sumner Ave - Retail FOR SALE


Fort Sumner, NM 88119
$1,880,047 USD
734-755-6359
1266 Sumner Ave, Fort Sumner, NM for Sale
$1,880,047 USD
Retail - FOR SALE
1/4
null | 6.8% Cap Rate

1266 Sumner Ave
Fort Sumner, NM 88119


HIGHLIGHTS

  • Zero Landlord Responsibilities | Absolute NNN Lease
  • 5% Rental Rate Increases Every 5 Years!
  • Now Open | June 2024
  • 2 Points of Ingress/Egress | Accessible from 2 Streets
  • 5,925 Cars Per Day on Highway 60
  • Dollar General Corporate Guaranty

OVERVIEW

Fortis Net Lease is pleased to present this 2024 BTS 10,640 SF. Dollar General Plus store located in Fort Sumner, New Mexico. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has completed construction and successfully opened for business in June 2024. This Dollar General is highly visible as it is strategically positioned on the corner of Avenue G & 16th Street, just off of Highway 60 seeing 5,925 cars per day. The store is easily accessible from both streets with 2 points of ingress/egress. The 10 mile population from the site is 1,322 and the 3 mile average household income is $45,457 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.80% cap rate based on NOI of $127,843.20. Instate Broker of Record: Brian Brockman | Bang Realty

FOR SALE DETAILS

PRICE

$1,880,047 USD

PRICE/SF

$177 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Plus

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

Commercial

APN/PARCEL ID

0000115201545814800

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

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