For Sale
$7,200,000

120 Bent StTaos, NM 87571

Prime Retail Investment, 20+ Tenants

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional retail investment opportunity encompasses three buildings totaling 21,495 square feet in Taos, New Mexico's historic downtown, adjacent to the Taos Plaza. The property, featuring a beautifully landscaped pedestrian walkway, houses over 20 unique shops, galleries, and restaurants. Built in 1920 with renovations completed in 2013, the property includes the John Dunn House, listed on the State Historic Register. Currently boasting 100% occupancy, 87% of the gross leasable area operates under triple-net leases. The diverse tenant base includes long-term, established businesses; over ten tenants have occupied their spaces for 30 years or more. The property's exceptionally high historical occupancy rate demonstrates its enduring appeal and strong tenant relationships. Two remodeled second-story apartments, updated in 2023, add to the property's income stream. The property's prime location within walking distance of museums, hotels, and other attractions, coupled with Taos's thriving tourism industry, ensures continued strong performance. The 0.841-acre lot provides ample space for the three two-story buildings, and the property offers a compelling combination of historical charm, modern amenities, and exceptional financial performance, with a current NOI of $468,445 and a 6.51% cap rate. The asking price is $7,200,000.

Highlights

  • Rare investment opportunity in Taos, NM's historic downtown, adjacent to Taos Plaza.
  • Three-building shopping center totaling 21,495 square feet with 20+ shops, galleries, and restaurants, centered around a landscaped pedestrian walkway.
  • Includes the John Dunn House, listed on the New Mexico State Historic Register.
  • 100% occupied; 87% of the gross leasable area is under triple-net leases.
  • Strong tenant base with long-term occupancy; 10+ tenants have occupied their spaces for 30+ years.
  • Extremely high historical occupancy with minimal vacancy between tenant turnover for renovations.

Property Details for 120 Bent St

Property type
Lifestyle centers, Power centers
Square Feet
21,495 SF
Year Built/Renovated
1920/2013
Buildings
3
Stories
2
Lot Size (sq. ft)
36,634 SF
Units
20

Location Insight

City
Taos
County
Taos
State
New Mexico
Latitude
36.40804374
Longitude
-105.57417039
120 Bent St, Taos, New Mexico

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120 Bent St
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