Investment Overview

Marcus & Millichap is the exclusive listing agent for the Red Lobster in Farmington, New Mexico. The property operates under an Absolute NNN lease where the landlord has no maintenance or repairs responsibilities whatsoever. The corporate guaranteed lease currently has 13 years remaining and expires July 31, 2039. The lease also includes two percent (2%) annual rent bumps and the tenant has four 5-year options to renew the lease. The 6,014 square foot building sits on a 1.36 acre parcel of land and was built in 1996. The property is ideally located along Main Street and sits directly across from a Safeway anchored grocery center and a Home Depot power center. This Red Lobster location is one of the highest performing sites in the country; per Placer.ai the site ranks in the 94th percentile nationally (28th out of 515 restaurants) and reports extremely high store sales (see agent for more details). Farmington is the largest city in San Juan County and functions as the primary commercial and service hub for the Four Corners region, serving northwest New Mexico, southwest Colorado, northeast Arizona, and parts of the Navajo Nation. Its role as a regional center for healthcare, retail, education, and government services allows it to support a trade area significantly larger than its population of roughly 46,000 residents. Farmington acts as the primary retail center for the Four Corners region, drawing shoppers from surrounding rural communities and tribal lands.