1509 Santa Fe Ave Grants, NM 87020-4005

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.