72 New Mexico 371, Thoreau, NM 87323 For Sale

Fortis Net Lease is pleased to present this 9,180 SF. freestanding Family Dollar store located in Thoreau, New Mexico - located in an Opportunity Zone! This store was rebuilt in 2015. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. Tenant is responsible for the HVAC system. The lease contains 4 (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed which holds a credit rating of "BBB", which is classified as Investment Grade. The store is currently open and has been operating successfully since July 2008. It performs in the top 1/3 of all Family Dollar stores in the state.

This Family Dollar is highly visible as it is strategically positioned off of I-40 which sees 20,010 cars per day, on NM-371 which sees 4,124 cars per day. It is conveniently located on the main thoroughfare surrounded by local schools, residential, & other retailers. The 10 mile population from the site is 3,945 while the 3 mile average household income is $41,524 per year, making this location ideal for a Family Dollar. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a "passive" investor to attain the fee simple ownership of a Family Dollar. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of the nation's top dollar stores. List price reflects a 11% cap rate based on NOI of $76,729. Owner is a license New Mexico Real Estate Broker.