316 Cedar St Deming, NM 88030

Property Details for 316 Cedar St

Year built

2023

Lot size

0.92 lot acres

Property size

2,843 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new (2023) Popeyes restaurant in Deming, New Mexico. The property boasts a 2,843 square foot building situated on a 0.92-acre lot, enjoying a prime location with high visibility. The absolute NNN lease, with a prominent tenant, ensures minimal landlord responsibilities. The current lease term extends for 19.1 years, commencing December 27, 2023, and expiring December 30, 2043. This long-term lease includes attractive 7% rent bumps every five years, providing consistent income growth throughout the primary term and four 5-year options. The property generates a strong net operating income (NOI) of $180,000, resulting in a compelling 6.50% cap rate. The property's strategic location in a dense retail corridor, with high traffic volume from nearby businesses such as Tractor Supply and Walmart, further enhances its investment appeal. The site benefits from frontage on I-10 and Cedar Street, ensuring significant visibility and accessibility. Deming's stable population base, coupled with its role as the county seat and tourism draw for the Southwestern New Mexico State Fair, contributes to the property's long-term value and potential for appreciation. This is a rare opportunity to acquire a high-performing, low-maintenance, and strategically located QSR investment in a growing market. The asking price is $2,769,230, translating to a price per square foot of $974.05.