4901 E Main St - Service Station FOR SALE


Farmington, NM 87402
$2,218,181 USD
332-345-4222
4901 E Main St, Farmington, NM for Sale
$2,218,181 USD
Service Station - FOR SALE
1/2
null | 5.5% Cap Rate

4901 E Main St
Farmington, NM 87402


HIGHLIGHTS

  • Long-Term, 15-Year Absolute Triple Net (NNN) Ground Lease
  • Brand New Construction
  • Ten (10), Five (5)-Year Tenant Renewal Options, Bringing Potential Term to 65 Years

OVERVIEW

NNN Pro Group is pleased to present the exclusive listing for an Maverik located at 4901 East Main Street in Farmington, New Mexico, 87402. The site consists of roughly 4,425 rentable square feet of building space on estimated 1.44-acre parcel of land. This Maverik is subject to a 15-year absolute triple-net (NNN) lease, which is scheduled to commence upon store opening, approximately on September 1st, 2023. The current annual rent is $122,000 and is scheduled to increase by 8% every 5 years throughout the base term and in each of the 10, 5-year renewal options. Glen Kunofsky and Judson Kauffman, exclusive listing agents, are also principals of this property. They are licensed real estate salespersons for the NNN Pro Group in the state of New York.

FOR SALE DETAILS

PRICE

$2,218,181 USD

PRICE/SF

$501 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Maverik

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.44 AC

LAND SF

62,726 SF

ZONING

-

APN/PARCEL ID

0024557

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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