1509 Santa Fe Ave Grants, NM 87020

Property Details for 1509 Santa Fe Ave

Lot size

4.25 lot acres

Property size

16,384 SF

Property type

Commercial real estate

APN

2054060235420

APU

2054060235420

Description

This exceptional investment opportunity presents a fee-simple interest in a ±16,419 square foot Walgreens located in Grants, New Mexico. The property sits on a substantial 4.25-acre lot at the high-traffic intersection of East Santa Fe Avenue and Interstate 40/Route 66, offering unparalleled visibility and accessibility. Built in 2014, this single-story building is a newer Walgreens prototype, complete with a convenient drive-thru pharmacy. The property benefits from a recently executed 15-year sale-leaseback agreement (commencing February 22, 2024, and expiring February 28, 2039), demonstrating Walgreens' long-term commitment to this strong-performing location. The absolute NNN lease structure ensures minimal landlord responsibilities, with rent bumps of 5% every 5 years. This location enjoys a significant competitive advantage, being the only Walgreens within a 75-mile radius. Nearby national retailers include Walmart, Tractor Supply, Dollar Tree, and several fast-food chains, further solidifying the area's robust retail environment. The asking price is $5,073,921, representing a compelling 6.25% cap rate. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with a long-term, secure lease. The property's size, location, and tenant strength make it an ideal addition to any diversified investment portfolio. This is a turnkey investment with significant upside potential.

Location Insight

City

Grants

County

Cibola

State

New Mexico

Longitude

-107.829

Latitude

35.1294

CBSA code

24380

CBSA name

GRANTS, NM MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments