1005 Us-491 Gallup, NM 87301

Property Details for 1005 Us-491

Property size

40,256 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 40,256-square-foot shopping center situated on an expansive 8-acre lot in Gallup, New Mexico. Currently configured as three former auto dealerships, this Class B property offers significant potential for continued use or redevelopment. The asking price is $5,900,000, translating to $146.56 per square foot. Located at 1005 US-491, the property enjoys a highly visible position at the intersection of N Highway 491 and Jefferson Avenue, within Gallup's main retail corridor. This strategic location serves as a regional hub for western New Mexico and eastern Arizona, benefiting from exceptional accessibility and high traffic volume. The property's strong tenant mix includes prominent national retailers such as Safeway, Big 5 Sporting Goods, Walmart Supercenter, Home Depot, Harbor Freight, McDonald's, and Starbucks, ensuring a robust and established commercial environment. The property is zoned HC - Heavy Commercial, providing flexibility for a variety of retail uses. The ownership is held by DM & KC, LLC, and the property is offered for sale by owner. This is a rare opportunity to acquire a significant retail asset in a thriving market. The property's size, location, and surrounding commercial activity make it an attractive investment for both experienced and emerging investors seeking strong returns in a growing region. The 360,412 square foot lot provides ample space for expansion or future development. This is a turnkey opportunity to acquire a well-positioned retail property with significant upside potential.

Location Insight

City

Gallup

County

McKinley

State

New Mexico

Longitude

-108.759

Latitude

35.5364