Current Use by Public Records
- IHOP / Restaurant
Property Details for 105 1St St
- Year built
- 2013
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 4,010 square foot IHOP restaurant situated on a 27,500 square foot lot in Artesia, New Mexico. The property, built in 2013, boasts a strong 8.99% cap rate and a substantial net operating income (NOI) of $93,500. The single-tenant, credit-rated IHOP operates under a NNN lease with 14 years remaining, plus two five-year renewal options, ensuring long-term stability. Located at the intersection of Highways 82 and 285, this prime location benefits from high visibility and traffic flow. The property is part of a larger five-property portfolio, offering potential for portfolio acquisition. Surrounding national retailers include McDonald's, Wells Fargo, and others, creating a synergistic and desirable retail environment. The asking price is $1,040,000, translating to $259.35 per square foot. The property's APN is 008684. This is a rare chance to acquire a well-established, high-performing restaurant investment with significant upside potential. The property is 100% occupied.
Value Estimations
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Artesia
- County
- Eddy
- State
- New Mexico
- Longitude
- -104.397
- Latitude
- 32.8417
