3619 NW County Rd Hobbs, NM 88240

Property Details for 3619 NW County Rd

Year built

2018

Lot size

1.45 lot acres

Property size

3,622 SF

Property type

Banks

Description

This exceptional investment opportunity presents a 3,622 square foot McAlister's Deli located in Hobbs, New Mexico. The property sits on a 1.45-acre lot in a high-traffic retail corridor at a signalized intersection of NW County Rd and N Lovington Hwy, boasting 29,463 cars per day. This single-tenant, absolute NNN lease boasts a strong remaining term of eight years, extending to December 31, 2033, with three five-year renewal options and attractive 10% rent bumps every five years. The next rent increase is scheduled for January 1, 2029. The property features a 7.00% cap rate and a current NOI of $138,000. The lease is guaranteed by Best Choice Restaurants, a 63-unit McAlister's Deli operator and subsidiary of Sun Holdings, Inc., a major franchisee operating over 1,500 restaurants nationwide. Sun Holdings is expanding its McAlister's footprint, adding 35 more locations in the next four years. The property's prime location is adjacent to a Walmart Supercenter and near Lowe's and Home Depot, surrounded by other major retailers including Hobby Lobby, Albertsons, and numerous national brands. Hobbs, the largest city in Lea County, is a thriving community in the heart of the Permian Basin, benefiting from a strong local economy and a robust population of 47,422 within a five-mile radius, with an average household income of $180,889 within one mile. The property is also conveniently located near educational institutions and healthcare facilities, further enhancing its appeal and long-term stability. This is a rare opportunity to acquire a well-positioned, high-performing asset with significant upside potential. The property is zoned C and was built in 2018.