813 1St St Grants, NM 87020
- Commercial real estate
- 990 SF
- 0.02 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 813 1St St
- Lot size
- 0.02 lot acres
- Property size
- 990 SF
- Property type
- Commercial real estate
- APN
- 2055062242395
- APU
- 2055062242395
Description
This 10,418-square-foot retail storefront in Grants, New Mexico, presents a compelling owner-user investment opportunity. Currently boasting 100% occupancy, the property generates a strong net operating income (NOI) of $22,338, translating to a 7.98% capitalization rate at an asking price of $280,000 ($26.88 per square foot). Three of the four tenants are secured by multi-year leases, providing excellent stability. While one suite operates on a month-to-month lease, it's a long-term tenant. Recent improvements include new exterior LED lighting and an upgraded pylon sign. The property also benefits from significant 2022 city upgrades to the surrounding infrastructure, including new sidewalks, repaved roads, updated plumbing and drainage, and modern LED streetlights along 1st Street, the town's main thoroughfare. This presents a value-add potential for a savvy investor seeking a strong return in a revitalized area. The property is located at 813 1st St, Grants, NM 87020.
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
- Grants
- County
- Cibola
- State
- New Mexico
- Longitude
- -107.844
- Latitude
- 35.1574
- CBSA code
- 24380
- CBSA name
- GRANTS, NM MICROPOLITAN STATISTICAL AREA
