FleetPride
2001 N 1st Street, Artesia, NM 88210
Marketing description
This offering presents a compelling opportunity to acquire a single-tenant, net-leased industrial investment occupied by FleetPride, a nationally recognized leader in heavy-duty truck and trailer parts distribution. Strategically located at 2001 N. Artesia Blvd in Artesia, New Mexico, the property sits along U.S. Highway 285, a major north-south transportation corridor, and serves as a critical operational facility within the tenant’s regional network. The site has been continuously operated as a truck and trailer retail store since the 1980s, underscoring its longstanding functionality and relevance to the local market.
The asset consists of an approximately 10,000 square foot industrial building situated on approximately 0.93 acres, offering functional warehouse space, yard area, and excellent visibility and access along a primary commercial thoroughfare supporting logistics and distribution operations. The property is leased on a double net (NN) basis, providing for minimal landlord responsibilities and a stable, passive income stream.
The investment is offered at an attractive 7.50% CAP rate, delivering strong in-place yield relative to comparable net-leased industrial assets. FleetPride, backed by strong institutional ownership, operates an extensive nationwide footprint and has demonstrated a strong commitment to this location, reinforcing the long-term viability and stability of the tenancy. The lease structure offers predictable cash flow, with built-in attractive annual rent escalations, enhancing long-term income growth.
Artesia is a well-established energy and industrial hub in southeastern New Mexico, benefiting from ongoing activity in the oil and gas sector. The property’s location along U.S. 285 provides strong underlying real estate fundamentals, driven by consistent traffic flow and demand from industrial users tied to regional economic drivers.
This investment is well-suited for investors seeking a secure, long-term asset with a creditworthy tenant, limited management responsibilities, and exposure to the resilient industrial sector.
Investment highlights
- National Tenant - with 450 Locations Across 47 States
- Best in Class Parts and Service
- Nation's Largest Independent Distributor of Heavy-Duty Truck and Trailer Parts
- Established Long-Term Operating History | Since the 80's
- Specialized Property Improvements and Operational Integration Create High Tenant Stickiness and Significant Relocation Costs
- Zero Nearby Competition
- Strong Corporate Lease Guarantee
- Fleetpride Commitment to This Location Is Evidenced by A Recently Signed 7-Year Lease Extension with Annual Increases, a Distinction Reserved for The Chain's Top-Performing Stores Nationwide
- Net Lease Structure / Passive Ownership
- Limited Landlord Responsibilities
- Situated Along a Primary Corridor
- Direct Frontage on U.S. Highway 285 (north 1 St Street), a Major North-South Transportation Artery Serving Southeastern New Mexico and West Texas.
- Stratigic Location with Industrial Fundamentals
- Essential Transportation Infrastructure Use
- The Corridor Provides Efficient Connectivity to Regional Energy Production
- Artesia, New Mexico, Offers a Robust, Industry-Driven Economy Focused on Oil, Gas, and Agriculture, Providing Stable Employment and A Low Cost of Living
- Mission Critical Industrial Facility
- Skilled Workforce: The Presence of Industrial, Agricultural, and Federal Employers Contributes to A Diverse, Experienced, and Trained Local Workforce.
- The Location Supports Long-Term Viability for Distribution
- Fleetpride Supports the Trucking and Logistics Sector, a Critical Componant of The U.S. Economy.
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