Skip to main content

Discount

Dollar General -Farmington

390 E 20th St, Farmington, NM 87401

Listing Price: $2,185,000

Cap Rate
4.75%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Gross SF
9,100
Guarantor
Corporate Guarantee
Rentable SF
9,100
Price/Gross SF
$240.11
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.41

Investment Overview

The subject property is a freestanding Dollar General recently build-tosuit constructed in 2021 and located in Farmington, New Mexico. The 9,100 +/- square-foot store is situated directly on E. 20th Street, a primary traffic corridor going west of NM State Road 516, with excellent visibility to 10,693 vehicles per day and adjacent to Kroger owned Smith’s Food and Drug. Strategically located 30 miles east of Shiprock, NM and 50 miles south of Durango, CO, this store is expected to do very well long-term given the captive audience and number of communities it will serve. The store is situated in close proximity to several Native American reservations including the Navajo Nation, also known as Navajoland, which is the largest in North America. New Mexico includes a population of 22 tribal communities and joins Arizona, California and Oklahoma as one of the states with the highest numbers of people who identify as American Indian. The steady traffic which results from the subject store’s proximity brings a steady flow of customers to the store particularly on weekends. Dollar General signed a new triple net (NNN) lease and development agreement in January 2020, with rent commencing in June 2021. The NNN lease provides for the tenant to be responsible for property expenses including CAM, taxes, insurance, roof and structure. Three (3) five-year renewal options follow the initial 15-year lease term. Rent is scheduled to increase by 10% at the beginning of each renewal period.

Investment Highlights

  • New 2021 Build to Suit Construction
  • NNN Lease with 14 Years remaining
  • 10% Increases at Each Renewal
  • 2 Miles from Regional Airport
  • Commercial Hub with 150,000 Weekend Shoppers

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s) NM: 20675

    New Mexico

Financing By

Discount

Dollar General -Farmington

Listing Price: $2,185,000

Cap Rate
4.75%
Tenant Name
Dollar General
Years Remaining On Lease
13.9
Gross SF
9,100
Guarantor
Corporate Guarantee
Rentable SF
9,100
Price/Gross SF
$240.11
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.41

Investment Highlights

  • New 2021 Build to Suit Construction
  • NNN Lease with 14 Years remaining
  • 10% Increases at Each Renewal
  • 2 Miles from Regional Airport
  • Commercial Hub with 150,000 Weekend Shoppers

Investment Overview

The subject property is a freestanding Dollar General recently build-tosuit constructed in 2021 and located in Farmington, New Mexico. The 9,100 +/- square-foot store is situated directly on E. 20th Street, a primary traffic corridor going west of NM State Road 516, with excellent visibility to 10,693 vehicles per day and adjacent to Kroger owned Smith’s Food and Drug. Strategically located 30 miles east of Shiprock, NM and 50 miles south of Durango, CO, this store is expected to do very well long-term given the captive audience and number of communities it will serve. The store is situated in close proximity to several Native American reservations including the Navajo Nation, also known as Navajoland, which is the largest in North America. New Mexico includes a population of 22 tribal communities and joins Arizona, California and Oklahoma as one of the states with the highest numbers of people who identify as American Indian. The steady traffic which results from the subject store’s proximity brings a steady flow of customers to the store particularly on weekends. Dollar General signed a new triple net (NNN) lease and development agreement in January 2020, with rent commencing in June 2021. The NNN lease provides for the tenant to be responsible for property expenses including CAM, taxes, insurance, roof and structure. Three (3) five-year renewal options follow the initial 15-year lease term. Rent is scheduled to increase by 10% at the beginning of each renewal period.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s): NM: 20675

    New Mexico

Financing By

MM Texture Background
MM Textured Background Lower