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Dollar General N Butler- Farmington NM
4651 N Butler Ave, Farmington, NM 87401
Listing Price: $2,275,000
Investment Overview
The subject property is a new freestanding Dollar General currently in
development and located in northeastern Farmington MSA, New Mexico. The 10,640 +/- square-foot
"plus" format store is situated directly on North Butler Avenue at the intersection of Sunrise
Parkway with excellent visibility to both traffic corridors.
Dollar General is subject to a new NNN lease and development agreement with store opening and rent
commencement anticipated for October 2024. The "Next Gen" lease features 5% scheduled rent
increases every 5 years and at the beginning of each renewal option period. 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.
Dollar General N Butler- Farmington NM
Investment Highlights
- New 15 year Triple Net (NNN) Lease
- Rare 5% Rent Increases Every 5 Years
- $77k Incomes and 47,000 People in 5-Miles
- 4 Miles to Four Corners Regional Airport
- New 2024 Build to Suit Construction
- New Large Format "Plus" Store Design
- No Landlord Responsibilities
- Investment Grade "BBB:" Rated Tenant
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $2,275,000
Investment Highlights
- New 15 year Triple Net (NNN) Lease
- Rare 5% Rent Increases Every 5 Years
- $77k Incomes and 47,000 People in 5-Miles
- 4 Miles to Four Corners Regional Airport
- New 2024 Build to Suit Construction
- New Large Format "Plus" Store Design
- No Landlord Responsibilities
- Investment Grade "BBB:" Rated Tenant
Investment Overview
The subject property is a new freestanding Dollar General currently in development and located in northeastern Farmington MSA, New Mexico. The 10,640 +/- square-foot "plus" format store is situated directly on North Butler Avenue at the intersection of Sunrise Parkway with excellent visibility to both traffic corridors. Dollar General is subject to a new NNN lease and development agreement with store opening and rent commencement anticipated for October 2024. The "Next Gen" lease features 5% scheduled rent increases every 5 years and at the beginning of each renewal option period. 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.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
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