Current Use by Public Records
- Retail properties & Spaces
Property Details for 1605 Vicki Dr
- Year built
- 2023
- Lot size
- 4.16 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a newly constructed, 21,930-square-foot retail building in Grants, New Mexico, leased to Tractor Supply Company (TSCO) under a net lease. The property, situated on a 4.16-acre lot, boasts a prime location adjacent to Interstate 40's on/off ramp, ensuring high visibility and accessibility. Built in 2023, the single-story concrete block structure incorporates Tractor Supply's innovative Fusion and outdoor garden center design, along with a large secured outdoor sales area. Ample parking is available on-site. The 16-year lease, commencing September 1, 2023, and expiring August 31, 2039, includes four 5-year renewal options with 5% rent bumps each. The tenant, a publicly traded company with a strong credit rating, provides a corporate guarantee. The property benefits from its location within a thriving commercial corridor near other national retailers such as Walmart, Walgreens, and Dollar Tree, serving a population of 11,987 within a five-mile radius with an average household income exceeding $62,000. This presents a compelling investment with significant long-term potential, offering a stable income stream and minimal landlord responsibilities. The asking price is $7,084,000, resulting in a price per square foot of $323.03. The property's strategic location and strong tenant provide a secure and attractive investment opportunity.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grants
- County
- Cibola
- State
- New Mexico
- Longitude
- -107.825
- Latitude
- 35.1276
