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804 S Main Street Single Tenant Retail

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ID: 32

804 S Main Street Single Tenant Retail

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$699,999.00

Earnest Money Deposit: $25,000

(Currently Sold Out. Inquire for availability)

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Property Description

Introducing an incredible investment opportunity located at 804 S Main Street, Belen, NM 87002.

This property features a single tenant - a Cannabis Dispensary, with a 5-year lease in place through May 2028, offering a guaranteed monthly rent of $6,365.40 and a total income of $76,384.80. With a total NOI of $73,684.80, this property boasts an impressive 10.5% cap rate. The tenant covers all utilities, ensuring minimal expenses for the owner.

Built in 1990, the 5,000 square foot building sits on a lot of approximately 21,780 square feet. Enjoy a well-maintained property with a brand-new build-out, making it a turnkey investment opportunity. Don't miss out on this high-yield property with a stable tenant and excellent returns.

Contact us today for more information on this prime commercial property in Belen, New Mexico.

BUILDING INFORMATION

Square Footage4,820
Units1
Year Built1990
Year Renovated2023
Buildings1
Stories1
Lot Size (sq ft)20,782
Parking (spaces)8
Occupancy100%

PROPERTY TYPE

Property TypeRetail
SubtypeConvenience Store, Grocery Store, Pharmacy/Drug
Investment TypeStabilized
ClassC
Lease TypeNNN
TenancySingle
Lease Term5 years
Lease Commencement06/01/2023
Lease Expiration05/31/2028
Remaining Term4 years
Ownership100%
ZoningC3

PRICING

Asking Price$699,999
Earnest Money Deposit$25,000 min.
Price/Sq Ft$145.23
Cap Rate10.53%
NOI$73,684
Rent Bumps3% annually

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