Maverik
4,425 SF | 100% Leased | Retail Building | Farmington, NM 87402 | $2,218,181 ($501/SF) | 5.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,218,181
- Property Type
-
Retail
- Square Feet
- 4,425 SF
- Price / Square Foot
- $501
Listing Contacts
Glen Kunofsky
Verified Profile
Judson Kauffman
Verified Profile
Hannan Ben Yosef
Verified Profile
Brian Brockman
Verified Profile
- Property Info
Property 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.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Service, Grocery/Convenience Store
- Lot Size (sq. ft)
- 62,726 SF
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
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