719 Main St Farmington, NM 87401
- Banks
- 2,517 SF
- 0.61 lot acres
Current Use by Public Records
- Starbucks / Coffee Store / Espresso Bar
Property Details for 719 Main St
- Year built
- 1979
- Lot size
- 0.61 lot acres
- Property size
- 2,517 SF
- Property type
- Banks
- APN
- 2076171397319
- APU
- 2076171397319
Description
This exceptional investment opportunity presents a 2,331 square foot Starbucks located at 719 W Main St, Farmington, NM 87401. The property boasts a 10-year corporate net lease with Starbucks, minimizing landlord responsibilities. The lease commenced on February 23, 2024, and extends to March 31, 2034, offering a remaining term of approximately 9.4 years. The property sits on a 1.06-acre lot and enjoys a prime location between Main Street and Broadway, benefiting from high visibility to 20,298 vehicles per day (VPD). Its proximity to the San Juan Regional Medical Center (2,000+ employees, 198 beds) further enhances its strategic positioning. The average household income within a 5-mile radius is $87,629. The property features a single, 1-story building constructed in 2024, with a 100% occupancy rate. The Net Operating Income (NOI) is $135,000, resulting in a 5.25% capitalization rate. The asking price is $2,571,429, translating to a price per square foot of $1,103.14. This investment offers a compelling combination of a strong tenant, a desirable location, and a substantial return on investment. Farmington serves not only its immediate area but also surrounding communities including Bloomfield, Shiprock, Aztec, Fruitland, and Durango, CO.
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
- Farmington
- County
- San Juan
- State
- New Mexico
- Longitude
- -108.216
- Latitude
- 36.7287
- CBSA code
- 22140
- CBSA name
- FARMINGTON, NM METROPOLITAN STATISTICAL AREA
