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Dollar General- E Murray Dr- Farmington

1410 E Murray Dr, Farmington, NM 87401

Listing Price: $2,138,000

Cap Rate
6.73%
Tenant Name
Dollar General
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.52

Investment Overview

The subject property is a new freestanding Dollar General currently in development and located in southeastern Farmington MSA, New Mexico. The 10,640 +/- square-foot store is situated directly on East Murray Drive (US-64 Bypass) at the intersection of South Carlton Avenue with excellent visibility to both traffic corridors.

Strategically located 30 miles east of Shiprock NM, 12 miles west of Bloomfield NM, and 50 miles south of Durango CO, this store is expected to do very well long-term given the recurrent 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 tra?c which results from the subject store’s proximity brings a regular ?ow of customers to the area particularly on weekends.

Dollar General is subject to a new triple net (NNN) lease and development agreement with store opening and rent commencement anticipated for 2nd quarter 2024. The NNN lease provides for the tenant to be responsible for property expenses including CAM, taxes, insurance, roof and structure. Five 5-year renewal options follow the initial 15-year lease term. Rent is scheduled to increase by 5% every 5 years and at the beginning of each renewal option period.

Investment Highlights

  • New 2024 Build to Suit Construction
  • New Larger Format Store Design
  • Investment Grade BBB Rated Tenant

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- E Murray Dr- Farmington

Listing Price: $2,138,000

Cap Rate
6.73%
Tenant Name
Dollar General
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.52

Investment Highlights

  • New 2024 Build to Suit Construction
  • New Larger Format Store Design
  • Investment Grade BBB Rated Tenant

Investment Overview

The subject property is a new freestanding Dollar General currently in development and located in southeastern Farmington MSA, New Mexico. The 10,640 +/- square-foot store is situated directly on East Murray Drive (US-64 Bypass) at the intersection of South Carlton Avenue with excellent visibility to both traffic corridors. Strategically located 30 miles east of Shiprock NM, 12 miles west of Bloomfield NM, and 50 miles south of Durango CO, this store is expected to do very well long-term given the recurrent 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 tra?c which results from the subject store’s proximity brings a regular ?ow of customers to the area particularly on weekends. Dollar General is subject to a new triple net (NNN) lease and development agreement with store opening and rent commencement anticipated for 2nd quarter 2024. The NNN lease provides for the tenant to be responsible for property expenses including CAM, taxes, insurance, roof and structure. Five 5-year renewal options follow the initial 15-year lease term. Rent is scheduled to increase by 5% every 5 years and at the beginning of each renewal option 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

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