For Sale
$1,428,571

915 Silver Heights BlvdSilver City, NM 88061

High-performing convenience store, 19-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 1,544 square foot Fast Stop convenience store and gas station located at 915 Silver Heights Boulevard, Silver City, NM 88061. The property sits on a 0.66-acre lot and boasts a strong 7.00% cap rate with a Net Operating Income (NOI) of $100,000. The property is currently operating at 100% occupancy under a 20-year absolute triple-net (NNN) lease with Fast Stop Management, commencing October 27, 2023, and expiring October 31, 2043. This leaves approximately 19 years remaining on the lease term. The lease includes a 2% annual rent increase, providing protection against inflation. The tenant, Fast Stop Management, is a reputable and established business with a proven track record. The property benefits from its strategic location on Highway 180, surrounded by national tenants such as Domino's Pizza, Denny's, Comfort Inn, and more. Built in 1980, this well-established business offers a long-term operating history and significant tax incentives (consult your CPA). The asking price is $1,428,571, translating to a price per square foot of $925.24. The lease includes four 5-year renewal options. A comprehensive due diligence package will be provided upon execution of the purchase and sale agreement. This is a secure, low-maintenance investment with significant upside potential.

Highlights

  • 1,544 SF Fast Stop convenience store and gas station on a 0.66-acre lot, located at 915 Silver Heights Boulevard, Silver City, NM 88061.
  • Absolute triple-net (NNN) lease with approximately 19 years remaining, including four 5-year renewal options.
  • 2% annual rent increases built into the lease.
  • Corporate and personal guarantee from Fast Stop Management and its CEO.
  • Strong rent coverage ratio.
  • Excellent location on Highway 180, near Domino's, Denny's, Comfort Inn, and other national tenants.

Property Details for 915 Silver Heights Blvd

Property type
Retail properties, Retail space
Square Feet
1,544 SF
Year Built
1980
Lot Size (sq. ft)
28,750 SF

Location Insight

City
Silver City
County
Grant
State
New Mexico
Latitude
32.7837641
Longitude
-108.2661592
915 Silver Heights Blvd, Silver City, New Mexico

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915 Silver Heights Blvd
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