1655 Valley Dr Las Cruces, NM 88005

Property Details for 1655 Valley Dr

Year built

2023

Lot size

0.39 lot acres

Property size

1,430 SF

Property type

Auto shops

Description

This exceptional investment opportunity presents a brand-new, 1,430-square-foot auto shop in Las Cruces, New Mexico. Located at 1655 S Valley Dr, this property boasts a prime location with excellent visibility and access, situated directly across from a Walmart Supercenter-anchored shopping center and near other major retailers including Starbucks, Cracker Barrel, and more. The property is also conveniently located near Las Cruces High School and New Mexico State University, ensuring a consistent flow of customers. The building, constructed in 2023, sits on a 0.39-acre lot and includes 7 parking spaces. The property is currently 100% occupied by a Take 5 Oil Change franchisee under a 15-year absolute NNN lease with 10% rent increases every five years. This provides a strong, stable income stream with minimal landlord responsibilities. The franchisee is part of a rapidly expanding company with plans to open 50+ units by the end of 2024, providing a robust financial backing for the lease. The current Net Operating Income (NOI) is $145,250, yielding a 6.00% cap rate at the asking price of $2,421,000. The lease includes six, 5-year renewal options, further securing long-term returns. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a thriving market. The property's strong demographics, with over 65,500 residents within a 3-mile radius and an average household income exceeding $58,400, contribute to its exceptional investment potential. The "contactless, stay-in-your-car, 10-minute oil change" model offers a Covid-resistant business model.