264 New Mexico Hwy Gallup, NM 87301
- Retail properties
- 9,100 SF
- 1.17 lot acres
Current Use by Public Records
- Retail properties
Property Details for 264 New Mexico Hwy
- Year built
- 2025
- Lot size
- 1.17 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 9,100-square-foot Dollar General store situated on a 1.17-acre lot in Tse Bonito, New Mexico. The property boasts a 15-year absolute NNN lease commencing February 1, 2025, and expiring February 1, 2040, with five 5-year renewal options. The lease includes a corporate guarantee and features a 5% rent increase every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its 7.00% cap rate and a substantial net operating income (NOI) of $151,548. Located on New Mexico Highway 264, a high-traffic thoroughfare with over 40,000 vehicles per day, this strategically positioned asset benefits from excellent visibility and accessibility. The property's proximity to a public airport and other major national retailers further enhances its appeal. The e-commerce resistant nature of Dollar General, a rapidly expanding national retailer, adds to the investment's long-term stability. This property is ideally suited for investors seeking a secure, high-yield, and low-maintenance retail investment within the thriving Navajo Nation market, home to a population exceeding 400,000. The asking price is $2,164,971, translating to a price per square foot of $237.91. The property is currently 100% occupied.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gallup
- County
- Mckinley
- State
- New Mexico
- Longitude
- -109.046
- Latitude
- 35.6618
